Crypto_Bee
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#AirdropStepByStep Bitcoin Price Update โ Bears Maintain Control Below $98K
Bitcoin ($BTC) encountered firm resistance near the $97,895 mark, leading to a gradual downward drift. On the 2-hour chart, the price has been forming a steady sequence of lower highs and lower lows. Currently, BTC is trading around $95,560, down approximately 2.4% from its recent high, with the 24-hour low at $95,423.
Despite multiple recent efforts to reclaim the $98,000 level, BTC has been unable to sustain momentum. This price zone now shows a double-top formation, indicating a weakening bullish trend. While trading volume has stayed consistent, selling pressure is mounting as traders secure profits from earlier gains.
If the downward trend persists, key support levels to watch include $94,270 and the psychological $93,000 mark. A decisive drop below these could lead to a sharper correction. On the upside, if bulls defend the $95K level effectively, a short-term rebound toward $96,500โ$96,800 could unfold.
At present, caution is advised. Bitcoin remains in a consolidation phase, and without a strong move above $98K on increased volume, bearish sentiment is likely to dominate.
$BTC
Bitcoin ($BTC) encountered firm resistance near the $97,895 mark, leading to a gradual downward drift. On the 2-hour chart, the price has been forming a steady sequence of lower highs and lower lows. Currently, BTC is trading around $95,560, down approximately 2.4% from its recent high, with the 24-hour low at $95,423.
Despite multiple recent efforts to reclaim the $98,000 level, BTC has been unable to sustain momentum. This price zone now shows a double-top formation, indicating a weakening bullish trend. While trading volume has stayed consistent, selling pressure is mounting as traders secure profits from earlier gains.
If the downward trend persists, key support levels to watch include $94,270 and the psychological $93,000 mark. A decisive drop below these could lead to a sharper correction. On the upside, if bulls defend the $95K level effectively, a short-term rebound toward $96,500โ$96,800 could unfold.
At present, caution is advised. Bitcoin remains in a consolidation phase, and without a strong move above $98K on increased volume, bearish sentiment is likely to dominate.
$BTC
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