Bitcoin Price Forecast: The Next 24 Hours Are Crucial After The Latest Decline

Bitcoin has just gone through another slight correction. However, looking at the overall picture, the general trend of the market has not changed much. The price is still fluctuating within a familiar zone, indicating that the sell pressure is still present and the market is not ready for a strong breakout. In the short term, Bitcoin may be approaching a temporary turning point in the next 24 hours, which is considered a critical phase. If buying pressure is strong enough, the price has the potential to recover and test a rally before the market establishes its next major direction. However, it is important to emphasize that any short-term increase is likely just a part of the accumulation process – moving sideways, and not yet a signal for a new bull cycle. Important Price Levels to Watch Above, Bitcoin continues to face a strong resistance zone ranging from 92,800 USD to 111,200 USD. This is an area that has repeatedly halted the price's upward momentum over the past few weeks. As long as Bitcoin remains below this zone, the potential for significant increases will be greatly limited. On the contrary, the important support zone is around the mark of 85,470 USD. The price may temporarily dip below this zone for a short time, but the important question is whether Bitcoin will break and maintain below this support mark. If a clear breakdown occurs, the risk of a deeper decline will increase significantly. Possible Scenarios That May Occur in the Future In the short-term scenario, Bitcoin may continue to adjust to the zone of 86,000 – 87,000 USD before a price reaction occurs. If the buyers successfully defend this area, the price could bounce back and head towards the zone of 95,000 – 96,000 USD in the following days. Even if this recovery scenario occurs, it is likely to only help extend the current range of fluctuations, rather than open up a sustainable upward trend. The overall trend of the market is still leaning negative, and Bitcoin could very well continue to move sideways until the end of the year. A clearer trend – either a strong increase or decrease – may only truly emerge when the market enters the new year. Current Situation At the time of writing, Bitcoin is trading around 88,100 USD, slightly down and returning to the red zone. This reflects the cautious sentiment of investors, as the market is still waiting for a strong enough signal to confirm the next direction.