If Bitcoin fails to rise above the $102,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $101,250 level.
The first major support is near the $100,000 level. The next support is now near the $98,550 zone. Any more losses might send the price toward the $96,500 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $101,250, followed by $100,000.
Major Resistance Levels – $102,500 and $103,200.