Bitcoin failed to break the $100,000 mark and sees a correction, trading currently below $96,500. This decline started from the $99,400 level, and BTC fell below a key bullish trend line, indicating bearish pressure. Bitcoin needs to stay above $95,000 to prevent further losses.
The price reached as high as $99,400 before succumbing to downward pressure. Support levels now lie at $95,000 and $93,800. On the upside, Bitcoin faces resistance beginning at $96,400, with a potential climb up to $97,750. A move above this could edge BTC closer to challenging the $100,000 barrier again.
Technical indicators, such as the MACD and RSI, show bearish tendencies as BTC/USD struggles below the 100-hourly Simple Moving Average. Investors should watch these metrics for insights into Bitcoin’s potential moves.
