Bitcoin (BTC) price today witnessed a decrease of 3.03%, as it is currently trading at around $102,017. During the daily trading, the highest price was $105,218, while the lowest was $98,809.
Technical Analysis:
50-period moving average: It acts as a good support near the $98,800 level, which may contribute to limiting potential declines.
Stochastic indicator: It got rid of the negative momentum and reached the oversold areas, indicating a possible bullish rebound soon.
Forecast:
Uptrend: If the price manages to stabilize above the $100,000 level and regains positive momentum, it may target the $105,000 and then $110,000 levels.
Downtrend: If the negative pressure continues and the price breaks the support level at $98,800, it may head towards the $95,000 levels or lower.
