Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency is moving within a rectangle formation between support at 88190 and resistance at 96635. A decisive break through one of these levels indicates the new direction for the currency. The currency has marginally broken down through support at points 93300. An established break predicts a further decline. The currency is overall assessed as technically neutral for the short term.