The current price of Bitcoin has been trading within a narrow range in the past hour, reflecting subdued activity in the market. Over the last 24 hours, Bitcoin has fluctuated between $94,898 and $98,467, remaining 12.6% below its previous peak. The trading patterns in the one-hour and four-hour timeframes suggest a bearish trajectory, with sellers gaining ground over buyers. A breach below $94,500 may lead to a further decline towards the $92,000 support level, while the $98,500-$100,000 range poses a significant resistance. The daily chart shows a sharp sell-off, indicating short-term negativity, with sellers preventing notable price increases. Oscillators provide mixed signals, but shorter-term moving averages support a somber outlook. However, if Bitcoin manages to break above $98,500 and regain key moving averages with increased volume, there is still the potential for a rally towards $100,000. Nevertheless, the inability to hold critical support levels and the presence of bearish indicators suggest continued downside risk, with a potential drop towards $92,000 or lower.



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