Analysis: Bitcoin is facing resistance from the descending trendline, with short-term support in the $84,000-$84,500 range.

According to CoinDesk analyst Omkar Godbole, Bitcoin's price has been resisted by the downtrend line from its all-time high of $126,000, failing to break through the $90,000 mark and continuing its downward trend from the fourth quarter. Currently, Bitcoin's short-term support level is in the $84,000 to $84,500 range; a break below this level could test the November low of $80,000. The analysis indicates that only a break above this trendline resistance could allow Bitcoin to return to an upward trend, potentially targeting $100,000.