Bitcoin (BTC) is currently trading at approximately $95,266, with a 2.89% decline over the last day. After reaching $99,650 and breaking the dynamic resistance of the Tenkan-sen line, it saw a short-term upward trend. However, failure to sustain above $102,000 led to a price drop.
The recent formation of a rising wedge pattern and a break below $97,799 increased the likelihood of further declines. Traders have shifted to short positions targeting $95,521 and $93,099.
Given the bearish momentum and ongoing price correction, key support levels around $95,700 are critical. If these break, further declines are expected. Traders should approach the market cautiously and monitor support and resistance levels closely. 3 replies
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