Bitcoin dips again, the $100,000 mark is precarious

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Recent trend summary

Bitcoin (BTC) attempted to break through $108,000 but failed, quickly retreating and falling below key supports at $105,000 and $102,500, reaching a low of $98,728. Currently, the price is oscillating around $100,000, showing signs of consolidation.

Resistance and support analysis

Upper resistance

$100,500: Initial resistance in the short term.

$101,000: Key pressure point at the trend line.

$102,250: If this point is broken, it could reach $103,500.

Lower support

$98,500: Current short-term support level.

$98,000: Major support area, breaking below this may trigger greater downward pressure.

$96,200 and $95,500: Deep support zones, potentially the bottom of the downtrend.

Future trend outlook

Rebound conditions: If the price breaks above $101,000, it may initiate an upward trend, targeting $103,500 and higher levels.

Downward risk: If it cannot hold the $98,000 support, the price may further drop towards $96,200, or even test $95,500.

The short-term trend for Bitcoin is unclear; investors should proceed with caution and pay attention to key levels at $101,000 and $98,000. Short-term traders can adjust strategies based on support and resistance, while medium to long-term investors may wait for clearer trend signals.

The Bitcoin market is currently turbulent; avoid chasing prices and making impulsive trades to prevent losses.

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