Bitcoin Price Could Drop Below $100,000 Amid Bearish Pressure

The price of Bitcoin is experiencing a sharp decline, with expectations of a potential drop below $100,000. Despite this forecast, a recovery to new all-time highs is anticipated following the pullback.

Immediate Crash Risk

Bitcoin entered a cooling phase after reaching an all-time high of nearly $112,000.
Analyst 'MelikaTrader94' predicts a bearish takeover that could push Bitcoin below $100,000.
A descending trendline has been acting as resistance, indicating short-term bearish pressure.
As of the analysis, Bitcoin was trading at $106,432 and may face rejection at this level.
If rejected, Bitcoin could correct towards the $99,000 support zone.

Bullish Continuation Expected After Pullback

A drop to $99,000 is deemed critical for Bitcoin’s next rally.
A successful defense of this support could lead to a bullish continuation structure.
A rebound above the descending trendline could invalidate short-term bearish trends and aim for prices beyond $114,000.
Current consolidation around $104,500 suggests preparation for a significant market movement.

This projected pullback may precede a healthy upward move in Bitcoin's price trajectory.