Bitcoin price could be a sign of a deeper correction as it has failed to maintain the $100,000 level. 📉 The recent decline has caused the price to fall to $92,000. If the market cannot regain this area soon, a drop towards the $90,000 and even $80,000 support zones can be expected.

On the 4-hour chart, the price action looks mixed. The movement within the ascending channel was rejected around $108,000. The RSI shows that the market momentum is decreasing. However, the lower trend line is still intact, which could offer a chance for a quick recovery. If this line is broken, a drop below $90,000 can be expected.

In the on-chain analysis, the 100-day moving average of active addresses is recovering rapidly with the price increase. However, it has not reached its all-time high. This shows a mismatch between price action and network activity. If the network activity does not break a new record, Bitcoin may experience a long correction process.