Currently, Bitcoin is facing the challenge of the $100,000 resistance level and has shown a slight pullback.
The key observation point is whether the daily close can stabilize above $95,000.
If the price can recover $95,000, the bullish trend is expected to continue, and there is still a possibility of breaking through the $100,000 and $108,000 resistance levels.
Conversely, if the daily close fails to hold the $95,000 support, the market trend may reverse to a bearish trend, and the price might further retrace to the two support levels around $88,500 and $81,600 near the 20-day EMA.
Therefore, whether today’s closing price can recover $95,000 will have a significant impact on the future market trend.
I personally tend to believe that if $95,000 cannot be held, the price may retrace to $88,500 or $81,600, and such a pullback could be a healthier correction for the market.
