🔥 #SEC has announced the resignation of Gary Gensler.
🍿 Melania Trump launches her token: a new "meme-token" on the market.

🇺🇸 Blogger Layergg has published a map of the connections between Donald Trump's new administration and crypto projects, with direct and indirect ties of some officials.

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n has hit a new all-time high (ATH) above $109,000!

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he is officially the President of the United States: the inauguration took place at the Capitol.

💰 The Trump Family with the World Liberty Financial project has purchased

#bitccoin #BTCPricePredictions #BTCDROPING #btcdumping $BTC
Bitcoin Price Under Pressure as Bears Dominate
The price of Bitcoin has continued its downward trajectory, falling below the $95,000 threshold. As BTC attempts to correct its recent gains, it may face challenges in climbing back above the $96,500 mark.
Key points:
Bitcoin initiated a new decline from the $97,500 resistance level.
The price is currently trading below $97,000 and the 100-hourly Simple Moving Average (SMA).
A bearish trend line with resistance around $94,900 is forming on the hourly BTC/USD chart (data from Kraken).
The pair could see a rebound if it maintains above the $92,500 support level.
Bitcoin's Descent Below $95K
Bitcoin failed to sustain a recovery wave above the $98,000 resistance, keeping it within a short-term bearish phase and pushing it further below the $96,500 mark.
The price experienced a noticeable drop below the $95,000 support, reaching as low as $92,501. It is now consolidating below the 23.6% Fibonacci retracement level of the recent decline from the $102,760 high to the $92,500 low.
Currently, Bitcoin is trading below $96,500 and the 100-hourly SMA. Immediate resistance lies near the $95,000 level, with a connecting bearish trend line at $94,900 on the hourly chart.
A significant resistance level is at $96,500. Breaking through this level could propel the price higher, with the next resistance near $97,500, aligning with the 50% Fibonacci retracement of the recent drop from $102,760 to $92,500.
A close above $97,500 might drive Bitcoin towards the $98,800 resistance. Further gains could target the $100,000 level.
Potential for Another Decline?
If Bitcoin cannot surpass the $95,000 resistance, it may face another decline. The immediate support is around $93,500, with major support at $92,500. A breach below this could push the price towards the $91,500 support in the short term.
Technical Indicators:
Hourly MACD: The MACD is gaining momentum in the bearish zone.
Hourly RSI: The RSI for BTC/USD is below 50.
Key Support Levels: $93,500 and $92,500.
Key Resistance Levels: $95,000 and $96,500.