Bitcoin price has experienced a decline from the $102,500 zone and is struggling to stay above the $96,500 support level. The bears have pushed the price below key levels and there is a new bearish trend line forming. BTC is currently trading below the 100 hourly Simple Moving Average and immediate resistance is near the $98,000 level. If Bitcoin fails to rise above the $99,000 resistance zone, it could initiate a fresh decline with support levels at $96,500, $95,500, and $93,750. Technical indicators show a loss of momentum in the bullish zone with the MACD and the RSI below the 50 level.



Other News from Today