CandleFocus Bitcoin Price Under Pressure: BTC Struggles to Stay Afloat
2025-01-10
Author: Content Editor
The Bitcoin price has continued to decline, falling below the $93,500 level and struggling to recover above $95,000. The price is currently consolidating losses below the 23.6% Fib retracement level. It is trading below the 100 hourly Simple moving average and faces immediate resistance at the $93,500 level. If the price manages to break above $95,000, it could test the $97,000 resistance level, followed by $98,000 and $98,800. On the downside, immediate support is at the $92,500 level, with major support at $92,000 and $91,200. Technical indicators show bearish momentum with the MACD in the bearish zone and the RSI below 50.
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