Bitcoin Price Plummets to Bearish $93K

Bitcoin Faces Potential Downtrend Amid Bearish Indicators

• Bitcoin has fallen about 7% from its recent all-time high.
• The current price of Bitcoin is approximately $104,000, marking a nearly 2% decline in the past 24 hours.
• The daily Relative Strength Index (RSI) is around 51 points, below the 14-day simple moving average.
• Fixed Range Volume Profile (FRVP) indicates a heavy trading zone at $103,500.
• Analyst Burak Kesmeci suggests a potential downturn to $93,000 based on technical indicators.

Technical indicators suggest that Bitcoin’s price may face a correction to the $91,000 – $93,000 range, with current bearish signals pointing to weakening bullish momentum.