Bitcoin is currently valued between $96,512 and $97,121 with a market cap of $1.91 trillion and a trading volume of $59 billion. The cryptocurrency is experiencing a downward trajectory, stabilizing around $96,000, indicating a bearish trend. Support is at $96,000 while resistance is seen at $97,500 to $98,000. The breach from a consolidation phase suggests a continued downward force with a potential drop below $96,000 leading to even lower thresholds. The daily chart shows a wider bearish engulfing pattern with resistance at $108,000 and support at $93,000. Oscillator readings indicate neutral momentum, while moving averages suggest a complex market with short-term indicators signaling sell and long-term indicators indicating bullishness. Bitcoin could reverse toward higher resistance levels if it consolidates above $96,000 to $97,000, but a breakdown below $96,000 could result in further downside movement to $91,000 or lower.



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