Bitcoin Price Drops Below $100,000 Support Level Amid Bearish Pressure
Bitcoin has fallen below the $100,000 support level, raising concerns about its price sustainability. This breach is critical, as it historically served as a psychological barrier for traders.
Key Points
- The current price action indicates Bitcoin is in a bearish phase.
- Breaking below $100,000 signifies increased selling pressure and bearish sentiment.
- The Relative Strength Index (RSI) is in oversold territory, indicating low buying interest.
- If Bitcoin remains below $100,000, further declines toward $90,000 or $85,000 are possible.
- A failure to reclaim the $100,000 level suggests continued bearish control.
- If BTC recovers above $100,000, it may lead to renewed bullish momentum towards an all-time high of $109,577.
