Critical BTC Price Points to Monitor Today

Bitcoin Traders Watch Key Levels as Moving Averages Define the Battle

Bitcoin BTC traders are keeping a close eye on key price levels as optimism over potential Fed rate cuts fuels hopes for a recovery. Major moving averages are emerging as critical battlegrounds where bulls and bears fight for control.

The first level to watch is the 200-hour simple moving average (SMA) near $88,000. This level has capped upside moves since Monday but has recently stabilized, signaling that selling pressure may be easing. A break above this could boost trader confidence and trigger a sharper recovery.

Next resistance sits in the $98,000–$99,000 zone, a range that has repeatedly tested BTC in June and earlier this month. Beyond that, the 50-week SMA just above $102,000 represents a pivotal level. It served as strong support throughout 2023, and reclaiming it would signal a potential revival of the broader bullish trend after November’s bearish breach.

On the downside, critical support lies near $83,680, where the 100-week SMA intersects a major bullish trendline. Falling below this could confirm the bearish shift, with the next safety net at $74,500, a level that previously halted sellers and sparked an upswing.

These moving averages and key price points define the tug-of-war between bulls and bears, setting the stage for a potentially volatile and decisive period in Bitcoin trading.