Bitcoin Price Struggles Below $97,000 Resistance, Faces Potential Decline

Bitcoin Price Analysis

• Bitcoin is facing resistance near $100,000 and has started a decline from $98,500.
• The price is currently below $97,000 and the 100 hourly Simple Moving Average.
• A break occurred below a bullish trend line at $97,500 on the BTC/USD hourly chart.
• Potential downside support levels are at $96,150 and $95,000.
• Immediate resistance levels are at $96,800 and $97,000, with further resistance at $98,000.
• If Bitcoin remains above $96,000, it could see upward movement; otherwise, further declines may occur.

Technical indicators show bearish momentum, with the MACD in the bearish zone and RSI below 50.