Market Overview
Bitcoin (BTC) has experienced a 1.5% decline over the past 24 hours, dipping below $106K** and threatening to fall further toward **$100K. The failure to hold critical support levels has intensified bearish sentiment, with selling pressure dominating the market.
Key Points
- Current BTC Price: $105,503 (as of press time).
- Critical Support Lost: $105,800, with a brief drop to $105,250 on Tuesday.
- Potential Downside Target: $100K if bearish momentum continues.
Price Analysis and Forecast
Bearish Signals on the 4-Hour Chart
- MACD: Entered the negative zone, signaling stronger selling pressure.
- RSI: Weak at 46, indicating limited buying interest.
Key Levels to Watch:
- Support: $104,500 (next major level).
- Resistance: $106,719 (EPA level) and $107,866 (ILQ).
👉 Track Bitcoin’s live price action for real-time updates.
Scenarios
- Bearish Continuation: A sustained drop below $104,500 could accelerate losses toward $100K.
- Bullish Reversal: A breakout above $107,866 may invalidate the downtrend and push BTC toward $109K.
FAQs
Q: What caused Bitcoin’s recent drop?
A: Failed support at $105,800 and broader market bearishness triggered the sell-off.
Q: Is $100K likely for BTC?
A: Yes, if selling pressure persists and $104,500 support breaks.
Q: How can traders prepare?
A: Monitor liquidity sweeps and key resistance levels for reversal signals.
Conclusion
Bitcoin’s short-term trajectory hinges on its ability to reclaim lost support. Traders should watch for liquidity shifts and decisive breaks above/below critical levels.
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