Bitcoin Price Falls Below Key Support Levels
- Bitcoin price declined below the $105,000 support level.
- BTC is trading below $104,000 and the 100 hourly Simple moving average.
- A bearish trend line is forming with resistance at $103,500 on the hourly chart of BTC/USD.
- The price spiked below the $100,000 support to a low of $98,900.
- Immediate support is near the $100,200 level, with major support at $95,500.
Bitcoin’s recent decline has pushed it into a bearish zone as it struggles to maintain above key resistance levels such as $103,500 and $105,000. The cryptocurrency’s inability to recover above these levels could lead to further declines towards significant supports like $95,500.
