NewsBTC
8 hour ago
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Bitcoin Falls Below $100K Amid Increased Bearish Pressure

Bitcoin's price experienced a decline, failing to surpass the $104,000 mark, and is now down over 4%, with potential further declines below $98,000.

  • BTC fell below $102,000 and $100,000.
  • The price is beneath $100,000 and the 100-hourly Simple Moving Average.
  • A bearish trend line has formed, showing resistance around $102,200 on the BTC/USD hourly chart.
  • If it breaks below $98,500, further downward movement is possible.

Current Price Status

  • Bears pushed Bitcoin below $100,000, reaching a low of $98,000.
  • Price consolidates near the 23.6% Fib retracement level from the recent drop.
  • A recovery attempt may face resistance at $100,500 and $101,000.

Bitcoin Price

Potential Downward Movement

  • If unable to break above $102,200, BTC might decline again.
  • Immediate support lies near $98,500, main support at $98,000.
  • Further losses could target $96,500 and $95,000, with major support at $92,500.

Technical Indicators:

  • Hourly MACD: Gaining pace in the bearish zone.
  • Hourly RSI: Below 50 for BTC/USD.
  • Key Support Levels: $98,500 and $98,000.
  • Key Resistance Levels: $100,500 and $101,000.