Bitcoin faces intensified selling pressure as technical indicators point to potential downside movement. The cryptocurrency recently breached its 20-day moving average near $118,100, shifting focus toward crucial support levels amid expanding volatility as measured by Bollinger Bands.
The immediate technical floor appears at $116,300, with analysts warning that failure to hold this level could trigger further declines toward $112,000. Should bearish momentum accelerate significantly, Bitcoin could revisit $76,000—a zone aligned with the weekly Bollinger Band’s lower boundary that represents a critical mid-term support area without reversing the broader bullish market structure.
In an extreme downturn scenario, monthly Bollinger Band analysis identifies $35,000 as a potential technical bottom. However, market observers emphasize this outcome remains a low-probability event under current conditions. The Bollinger Bands expansion underscores growing near-term risks but suggests cascading selloffs to the $35,000 range would require severe market dislocation.
Traders are monitoring these technical thresholds closely as Bollinger Band volatility continues influencing price discovery mechanisms across cryptocurrency markets.