Bitcoin (BTC) price has recently witnessed a significant decline, breaking the support level at $95,195, indicating the possibility of continuing the downside correction towards the $90,750 and then $87,055 levels as the next negative targets.
On the chart, Bitcoin is seen moving within an ascending channel, however, the recent break of the mentioned support level could lead to more selling pressure. It is important to monitor the $95,195 level, as stability below it could enhance the chances of a decline towards the mentioned targets.
On the other hand, if the price manages to rebound above this level and regain the upward momentum, it could target the $100,220 levels as the first target, followed by $106,161 as the second target.
In general, investors are advised to monitor key technical levels and make their decisions based on the price action and ensure that risks are managed appropriately in light of the current volatility. $BTC
