Bitcoin (BTC) is currently trading near $100,480.38, representing a 0.87% decline. The market is under bearish pressure, and BTC is approaching a key support zone. This support zone, labeled Support Zone 1, is between $99,400.68 and $101,500, and has historically shown strong buying interest. If this zone fails to hold, a retest of Support Zone 2, between $92,000 and $94,000, is likely. The current decline in BTC's price suggests weakened momentum, and there is a battle for liquidity within the current range. Analysts believe that BTC's dip towards Support Zone 1 could be a necessary liquidity grab, potentially setting the stage for a move towards range highs. However, failure to hold Support Zone 1 could shift focus towards Support Zone 2 and test broader market sentiment.



Other News from Today