Today's Highlights, BTC Price 🔥🔥🔥

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From the price trend, Bitcoin has been consolidating in a horizontal range between $86,050 and $108,353. After reaching an average selling price of $100,111, the price faced a significant drop, triggering a downward trend.

This consolidation phase reflects the market's indecision, with buyers and sellers competing for dominance within this range.

Despite facing downward pressure, there are still signs of recovery. The red arrows on the chart indicate a bullish scenario, suggesting that BTC may rebound to the level of $98,017. A breakthrough at this level would signal a resurgence of strength and could lead to a retest of the resistance level at $100,111.

However, failing to hold the key level of $96,000 could result in a bearish move towards the support area at $86,050, which has proven to be a reliable zone for buyer intervention.

Moving averages also provide useful insights. The short-term moving average (MA5) indicates weak momentum, while the slightly longer-term moving average (MA10) reflects a recent downward trend. A breakthrough at $98,000 may reverse this trend and restore bullish momentum, but the price is still facing pressure at the moment.

In the short term, Bitcoin needs to maintain above $96,000 to sustain its position and avoid further declines. A breakthrough at $98,017 could lead to a retest of the resistance level at $100,111, which would be a positive signal for bulls.

On the other hand, if the price fails to hold current levels, it may return to the support area at $86,050. The market may continue to consolidate between $86,000 and $100,000 until a clear breakthrough occurs.

Live on Ddian Ddian, Don't Miss the Bull Market