Bitcoin Price Declines Below $100,000 Amid Bearish Momentum

Bitcoin Price Update

• Bitcoin is experiencing a decline below $100,000.
• The current price is below $99,500 and the 100 hourly Simple Moving Average.
• A bearish trend line has formed with resistance at $96,200.
• Support levels are critical at $90,000 and $92,500.

Bitcoin has dropped nearly 10%, reaching a low of $90,944. It is currently consolidating losses, with resistance near $95,000 and potential recovery if it stays above $90,000. Failure to break through $95,000 may lead to further declines, targeting support around $88,500.

Technical Indicators

• Hourly MACD indicates increasing bearish momentum.
• RSI for BTC/USD is below 50.