CandleFocus Bitcoin Price Under Pressure: Could The Slide Continue?
2024-12-23
Author: Content Editor
The price of Bitcoin has fallen below the $100,000 mark and is showing bearish signs, with potential further decline towards the $91,200 support zone. The price failed to start an increase and dropped below the $98,000 and $96,500 levels. There was a slight recovery, but it was met with resistance near $100,000. The price is currently below the 100 hourly Simple Moving Average and testing the 76.4% Fib retracement level. Immediate resistance is near $95,000, with key resistance levels at $95,850 and $97,800. If the price fails to rise above the $95,850 zone, it could continue to move down, with support levels at $92,500 and $91,200. Technical indicators suggest a bearish trend with the MACD gaining pace in the bearish zone and the RSI below 50.
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