Bitcoin encounters resistance after a surge, falling below key support! Is it likely to drop to 10,000?

Bitcoin just attempted to break through $105,000 before facing strong resistance, causing the short-term market to weaken again. The current price has dropped below $103,500, shaking the bullish position and exposing the market to significant volatility.

Failed to peak, bears retaliate

After briefly breaking above $104,200, Bitcoin reached a high of $104,980 but failed to hold the key resistance. The price then fell below the support at $103,800 and the 100-hour moving average, even breaching the upward trend line, showing signs of technical weakness.

Currently, BTC has fallen below $103,500, with bears in control and clear short-term pressure signals.

Downward risks emerge, support levels are precarious

If it cannot return to $104,200, the market may further decline. The first support level is at $102,850, followed by $101,750. If it falls below $100,500, the price is highly likely to retest $100,000, and even approach the critical bottom line of $98,800.

From a technical indicators perspective, the MACD has entered an accelerated bearish zone, and the RSI has dropped below 50, indicating a bearish market sentiment.

Hope for a rebound remains, but resistance is heavy

If the bulls regroup, the price needs to regain $103,600 and $104,200 to challenge $105,000. Breaking through this level may open up space above $106,500 or even $108,000.

However, in the current landscape of tension between bulls and bears, even a slight disturbance could trigger significant fluctuations, and the current uncertainty is extremely high.

Conclusion: The volatile market has begun, and the battle to defend the 10,000 mark may soon commence!

Bitcoin is on the edge of rising and falling, with short-term bears prevailing and the bullish counterattack lacking strength. The next few days will be a critical moment for the bulls to hold the 10,000 mark. If lost, the market may face the eye of a deep correction storm.