‎Bitcoin (BTCUSD) Trends Bullish Amid Short-Term Bearish Pressure

‎BTCUSD Market Analysis- September 29

‎Bitcoin (BTCUSD) is at a key juncture where its strong long-term bullish structure faces short-term bearish pressure.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $100,000.00, $88,000.00
‎Resistance Levels: $113,000.00, $128,000.00

‎BTCUSD Long-Term Trend: Bullish

‎On the daily timeframe, Bitcoin continues to maintain a bullish outlook as price action extended above the $113,000 supply level after rebounding strongly from the $100,000 demand zone. This movement confirmed buyers’ dominance and reinforced the broader bullish sentiment that has defined recent market structure.
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‎Despite this upward strength, the intermediate bullish trend has weakened following a decisive breach of the trendline support. Adding to this development, a double-top formation occurred before the breach, signaling the first clear signs of bearish presence in the market. This shift has given sellers more influence in the short term, creating the possibility of deeper retracements.
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‎The ongoing decline is therefore viewed as a corrective retracement rather than a full reversal, provided the $100,000 demand level remains unbroken. As long as this key level holds, the overall bullish trajectory remains intact, keeping the long-term structure favorable to buyers.

BTCUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, the bearish shift becomes more evident as price trades below the broken trendline support, confirming the short-term downward structure. After the initial drop, Bitcoin reached the oversold region on the Relative Strength Index (RSI), which triggered a temporary bullish bounce.
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‎This recovery is best interpreted as a corrective retracement within the broader bearish setup. Price is expected to retest the breached trendline before continuing its decline, with sellers likely to maintain control unless buyers can reclaim higher ground above the broken structure.
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