Oh dear, oh dear, what have we here? 🙈 Bitcoin‘s price has taken a tumble, failing to scale the lofty heights of $107,200. It seems our dear BTC is having a spot of bother, correcting its gains and eyeing that $100,000 support zone with a rather worried expression. 😱
- Bitcoin began a downward correction from the $107,200 region. Quite the drama queen, our BTC!
- The price is now below $104,500 and the 100 hourly Simple moving average. It’s like a schoolboy caught out of bounds! 🏃♂️
- A bearish trend line has formed, with resistance at $103,650 on the hourly chart of the BTC/USD pair. The bears are out in full force, I’m afraid! 🐻
- The pair may begin another increase if it remains above the $100,500 support zone. Fingers crossed, chaps! 🤞
Bitcoin’s price did make a gallant attempt to climb higher, breaking through the $104,500 and $105,000 levels. Alas, the bulls’ efforts were thwarted by the pesky bears near the $107,200 zone. A high was formed at $107,200 before the price began correcting its gains. Poor thing, it’s like watching a puppy chase its tail! 🐶
Immediate resistance is now near the $103,000 level. A key resistance is at $103,500, with a bearish trend line forming at $103,650. If BTC can clear this hurdle, it might just find its way back up. But, if not, well, we might see some more losses in store for our dear friend. 😢
A close above $104,500 could send the price soaring towards $107,200 and perhaps even a new all-time high. However, if Bitcoin fails to rise above $104,000, it could start a downward correction. The first major support is near the $100,500 level. Any further losses might push the price towards the $88,500 support. Oh, the suspense! 🎭
Technical indicators suggest the MACD is gaining pace in the bearish zone, while the RSI for BTC/USD is below the 50 level. Major support levels are at $101,650 and $100,500, with major resistance levels at $103,650 and $104,500. Will Bitcoin’s luck run out? Only time will tell! ⏳
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2025-01-23 06:05