Analyst: Bitcoin Key Support at $83,680, Resistance Near $88,000

BlockBeats News, November 26th, Coindesk analyst Omkar Godbole stated that Bitcoin's first key resistance is the 200-hour simple moving average (SMA), currently near $88,000. Since Monday, this level has been acting as a resistance to the price upside, capping the upside momentum. The next resistance to watch is in the $98,000–$99,000 range, a zone that has repeatedly capped intraday lows earlier this month and in June this year.

Furthermore, the most critical support is around $83,680, where the 100-week SMA intersects with the macro bullish trendline. A break below this level would send a clear risk signal, confirming a recent bearish shift and potentially leading to a deeper decline. The next downside support is around $74,500, a level where selling pressure waned in early April, setting the stage for subsequent price rebounds.