Bitcoin Rejects Descending Trendline at 88,802

Bitcoin is at a pivotal moment, testing key levels that could determine its next major move. Here's a breakdown of the scenario I’ve outlined:
Resistance at 88,802: Bitcoin hit a descending trendline and was rejected, suggesting strong overhead resistance at this level.

Key Support at 85,000: This appears to be a critical threshold short term. Holding above it could maintain bullish momentum, while a failure to do so might signal a breakdown.

Ascending Trendline from March 11 (76k): A break below 85,000 could lead to this trendline being tested. If it gives way, the next stop would be a retest of 76,000 as support.

Further Downside Risk: If 76,000 fails to hold, we're anticipating a drop to 69,000, indicating a potential deeper correction.

Upside Potential: If Bitcoin breaks above the descending trendline at 88,802, it could target higher resistance levels.

The yellow-circled area is the confluence zone where these trendlines and key levels intersect, making it a high-probability spot for volatility or a breakout in either direction over the next couple of weeks. Keep watch for confirmation as to which way bitcoin may go.