Bitcoin continues its downward spiral, hitting new lows after the broader market structure crumbled. Sellers remain dominant despite signs of oversold conditions. While a potential bottom remains uncertain, lack of pronounced futures capitulation fuels downside risk. 💰 📉 📉. By Shayan. The Daily Chart. On the daily timeframe, Bitcoin broke below its long-standing ascending channel, signaling a significant shift in momentum after the 50-day moving average crossed below the 200-day. Support levels around $100K and $86K were breached easily, pushing BTC towards the $76K demand zone. RSI is deep in oversold territory but no sharp reversal candle or volume spike indicates a clear capitulation yet, so more downside might occur in the short term.