BlockBeats reports on November 26th that Coindesk analyst Omkar Godbole stated that Bitcoin's first resistance level to watch is the 200-hour Simple Moving Average (SMA), currently near $88,000. This level has been acting as resistance for upward price movement since Monday, limiting gains. The next resistance level to watch is in the $98,000–$99,000 range, an area that previously formed intraday lows multiple times earlier this month and in June.
Furthermore, the most crucial support level 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 the recent bearish reversal and potentially leading to a deeper decline. The next support level is around $74,500, where selling pressure subsided in early April, paving the way for a subsequent price rebound.