The price of Bitcoin has declined below the $100,500 zone and is expected to continue moving down towards the $95,000 zone. BTC failed to sustain its upward momentum and broke below several support levels. It is currently consolidating losses with a bearish angle and is trading below the 100 hourly Simple Moving Average. The immediate resistance is near the $98,000 level, with the next key resistance at $99,500. If Bitcoin fails to rise above the $98,000 resistance, it could start a fresh decline and find support near the $96,500 and $95,000 levels. The technical indicators suggest a bearish trend, with the MACD gaining pace in the bearish zone and the RSI below the 50 level.



Other News from Today