Bitcoin $100,000 Rejection Triggers Sell-Off
Bitcoin’s momentum in trying to maintain above the highly anticipated $100,000 mark has faced stiff resistance, resulting in a sharp decline. Its rejection at this psychological level exacerbates bearish pressure, pushing BTC to a correction phase as sellers control it. Now all attention turns to key Support area This can determine whether Bitcoin is stable or expanding its decline.
If buyers step in at critical support levels, they may see a strong rebound in BTC, rebooting the bullish momentum. However, failure to hold above these areas may open the door further shortcomingmay test lower price levels. As uncertainty approaches, Bitcoin’s next move will be key to shaping its short-term trend.
Bearish pressure is increasing as Bitcoin strives to keep earnings
Bitcoin is currently under strong bearish pressure, reaching $93,257 in trading below the 100-day Simple Moving Average (SMA). This decline reflects weakness momentum As the seller continues to dominate the price action. It cannot cross the $100,000 mark and re-establish the 100-day SMA suggests that unless buyers step in at critical support levels, BTC may still be prone to further declines.
Related Readings
Downward movement shows that market sentiment has changed as bullish forces decline and volatility increases. If Bitcoin cannot stabilize in the $93,257 range, it may open the door for a higher downtrend, thus testing lower support levels. However, the strong defense of buyers within this range will indicate a reversal attempt that brings Bitcoin a chance to lose ground and restore its uptrend.
In addition, Bitcoin’s Relative Strength Index (RSI) is also declining from neutral territory to oversold areas. This shift indicates a weakening Buy Pressure, allowing the seller to decide on price action. The continued decline in RSI may strengthen the downward trend, indicating that there may be further declines if bearish sentiment persists.
However, if RSI is close to overselling conditions, it may indicate that Bitcoin is close to a tired place where buyers can step in to trigger a short-term rebound. The next few trading courses are crucial to determine whether Bitcoin is supported under installation or expanding its decline Bearish pressure.
What’s next for Bitcoin? Key key level
As bearish pressure intensifies, Bitcoin’s recent rejection of $100,000 has put key support levels in the spotlight. The $93,257 level is now a key test-holding on top of the possible rebound, while A break down Loss may be accelerated toward lower support zones.
Related Readings
Should be priced reduce Below the critical support level of $93,257, bearish momentum may accelerate, increasing the possibility of a deeper correction. Such a crash could trigger further sales pressure, pushing Bitcoin to the next key support zone at $85,211.
However, if Bitcoin’s support level is higher than $93,257, it may trigger Rebound Going to the $100,000 mark. Breakthrough above this key Resist Bolsters move upward, paving the way for profits.
Featured images from Adobe Stock, charts from TradingView.com
