NewsBTC
10 January 2025
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Bitcoin Price Falls Below $93,500 Amid Ongoing Decline

Bitcoin price dropped below $93,500 and faces challenges in recovering above $95,000.

  • Bitcoin declined from the $95,500 resistance zone.
  • The price is under $95,000 and the 100-hourly Simple Moving Average.
  • A bearish trend line is forming with resistance at $93,500.
  • The price could recover if it stays above the $91,200 support zone.

Current Bitcoin Price Action

Bitcoin's recent performance shows a failure to recover above the $95,500 resistance. The price fell below the $92,000 support zone, reaching a low of $91,168.

Currently trading below $95,000, immediate resistance is at $93,500. If Bitcoin surpasses $95,000, the next significant resistance could be at $97,000 or the 50% Fibonacci retracement level from the recent high of $102,761 to the low of $91,168.

Bitcoin Price

If Bitcoin fails to break above $95,000, it may face further declines. Immediate support is near $92,500, followed by $92,000 and $91,200. Further losses could lead to a drop towards the $90,000 level.

Technical indicators show:

  • MACD indicating increased bearish momentum.
  • RSI below 50 for BTC/USD.
  • Major support levels are at $92,500 and $91,200.
  • Major resistance levels are at $93,500 and $95,000.