Bitcoin has faced challenges in maintaining a price above $100,000, with multiple breakouts followed by rejections. The bearish case for BTC has become more prominent, with a 50/50 chance of a further drop or a bounce according to technical analysis. The $90,000 level is seen as crucial support, with Bitcoin making repeated attempts to test it. A break below $90,000 could lead to a cascade of price drops to $87,000 and potentially $75,000. Bitcoin needs to close above resistance levels at $103,000, $106,400, and particularly $108,500 to confirm a bullish trend. The current technical indicators suggest low chances of a price increase, and sentiment is now neutral. The upcoming inauguration of Donald Trump could potentially trigger a short-term rally or worsen the decline. Bitcoin is currently trading at $94,400.



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