Bitcoin price failed to sustain its upward move above $100,000 and is now correcting lower. It struggled to clear the $102,500 resistance level and started a fresh decline. The price is currently consolidating losses below $98,500 and the 100 hourly SMA. The immediate support is near $96,500, followed by $95,500. On the upside, the first key resistance is at $97,500, followed by $98,500. If the price fails to rise above $97,500, it could start a fresh decline towards $93,500 in the near term. The technical indicators suggest a bearish trend, with the MACD in the bearish zone and the RSI below 50.



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