The current price action of Bitcoin indicates a bearish trend across various timeframes, with selling pressure evident in technical indicators. The one-hour chart shows lower highs and lower lows, struggling to break the resistance zone of $98,500 to $100,000. The four-hour chart also paints a bearish outlook, with Bitcoin failing to hold above key resistance zones. The daily chart shows a sharp decline and increasing bearish volume, suggesting that sellers are in control. The presence of long-term support levels could potentially lead to a rebound if buyers step in. However, if market sentiment does not improve, there could be a drop below $91,500 and a further decline towards long-term support levels.



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