Bitcoin is showing some early signs of weakness on the daily chart, with a potentialdeath cross formation looming between its 23-day and 50-day moving averages. The pattern with ominous naming could pull the price of the major cryptocurrency toward the 200-day moving average, which is currently stretching at $95,868.
For now, theBitcoin price is just above the $100,000 psychological threshold, but there is clearly some pressure building up. The 23-day moving average is starting to dip and might cross below the slower 50-day trend line soon, which is a bearish sign historically linked to downward momentum.
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As of Thursday, the price was around $104,000, but the chart shows a drop of about -8% from recent levels. If the death cross happens, Bitcoin could test the zone between $95,700 and $96,000, right in line with its 200-day moving average. This average is a longer-term support level and could be a battleground for bulls and bears.
The key level to keep an eye on in the short term is around $99,000, which is a line that aligns with short-term support. Shouldthe price of BTC close below this level, a decline could speed up toward the 200-day average.
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Sentiment is still linked to macro uncertainty and ETF flows, so any sudden weakness could speed up the technical setup into an actual death cross within days.
While the bulls might still try to defend the six-figure mark, the charts are sending a warning. Bitcoin at $100K is now at risk, and the technical floor is slipping lower.
