Bitcoin is struggling to maintain gains above $100K and has adjusted over the past week. However, a bullish trend may soon emerge. 📈
- **Daily Chart**: Bitcoin has dropped below the $100K level and has not been able to surpass this mark. Although the $90K support zone has prevented a deeper decline, if it cannot break above $100K, the price may continue to drop below $90K and head towards $80K in the coming weeks.
- **4-Hour Chart**: The price has broken the upward channel pattern, which could be a reversal signal. The $100K resistance level has pushed the price down, potentially leading to a drop to $90K or lower in the short term.
- **On-Chain Analysis**: The SOPR indicator shows that selling pressure from long-term investors is not strong enough to drive down prices, opening up the possibility for prices to increase in the coming weeks. 🚀