Bitcoin (BTC) News: Prices May Tank to $100K
Bitcoin's recent crash has signaled the third failure of maintaining gains above a critical trendline established from the 2017 and 2021 highs, suggesting the possibility of a deeper drop to $100,000 or lower. The indicator reflects persistent resistance, defining the limits of bullish strength this cycle. The trendline's resistance noted in previous months suggests bullish attempts have faltered. Although the MACD histogram remains positive, it has decreased compared to prior periods, indicating weakening upward momentum. The daily chart analysis confirms a bearish outlook, with downward momentum suggested as BTC prepares for potential testing of lower levels, particularly noted at $100,000. Support may emerge at the 200-day moving average at $107,000, while bulls need to surpass $121,800 to change the current bearish sentiment. As of the latest reports, BTC is trading around $114,800, amidst a broader market context influenced by high trading volumes and external factors affecting crypto markets.
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