Bitcoin has recently struggled to break through a key price level, as seen on the daily chart. There is significant selling pressure in this area, and several attempts to move upward have been thwarted. The red arrows on the chart indicate these challenging spots, which any discerning observer can notice something is off.

The real turning signal is the breach of the previous upward trend line; it’s like suddenly missing a step while climbing a mountain, indicating that the momentum to rise has weakened. It’s very likely that the price will begin to move downward.

Looking at the Relative Strength Index, it is currently at 42.74, gradually declining, and still far from the oversold territory—this means that even if there is an occasional bounce, it is highly probable that the price will continue to drop, so don’t rush to buy the dip.

The most crucial aspect to watch now is the 200-day exponential moving average, which is around 103179 points. This line acts like a temporary step; if Bitcoin falls below this level, it will be difficult for the bulls to hold their ground.

The target for this drop is around 100720 to 100419, a range that has previously provided support, and may hold for a while.

For those holding positions, it’s important to keep a close eye; if the 200-day moving average cannot hold, it may very well drop even harder. Those feeling bullish should not be too impulsive—take a moment to assess the situation, especially at this critical juncture, as waiting an extra day might save significant losses.

To put it bluntly, Bitcoin's current upward momentum is showing signs of fatigue. Whether it can stabilize at this key support level in the coming days will directly determine whether prices continue to decline or gradually recover. Whether you want to enter or exit the market, keep an eye on these price levels; don’t act impulsively as the market is not so easy to manipulate right now.

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