Bitcoin Price Falls Below $100,000, Testing $91,200 Support Level

Bitcoin price extended losses, trading below the $100,000 zone, with bearish signs indicating a potential decline toward the $91,200 support zone.

Bitcoin declined from the $100,000 resistance zone.
Current trading is below $98,000 and the 100 hourly Simple Moving Average.
A key bearish trend line has formed with resistance at $95,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could initiate an increase if it remains above the $92,000 support zone.

Bitcoin Price Dips Again

Bitcoin failed to initiate gains, extending losses below the $100,000 zone. The price showed bearish momentum below the $98,000 and $96,500 levels, forming a low at $92,159 before a minor recovery.

Bears remained active near the $100,000 level, leading to another decline after reaching a high of $99,575. The price fell below the 50% Fib retracement level from the $92,159 swing low to the $99,575 high, confirming a bearish trend.

Bitcoin is currently trading below $98,000 and the 100 hourly Simple Moving Average, testing the 76.4% Fib retracement level from the same recovery wave.

Immediate resistance is near $95,000, with the first key resistance at $95,850. A move above this level could lead to further increases, targeting $97,800 and potentially $98,500. Continued gains may approach the $100,000 level.

More Downsides In BTC?

If Bitcoin does not rise above the $95,850 resistance zone, it may continue to decline. Immediate support is near $93,800, followed by major support at $92,500 and then $91,200. Further losses could push the price toward the $90,000 support in the near term.

Technical indicators:

Hourly MACD – Gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – Currently below the 50 level.
Major Support Levels – $92,500 and $91,200.
Major Resistance Levels – $95,850 and $97,800.