From the data, the support for Bitcoin is quite stable in the range of 96000 - 98500.
The 98000 level is both a technical accumulation area and the average cost line for short-term funds.
There is significant resistance above, mainly concentrated in the range of 103000 - 105200, and it will likely take a considerable amount of time to break through.
Yesterday, it dropped to 98200 and held. As long as the situation in the Middle East does not worsen further, it should stabilize around 98000.
Yesterday, MicroStrategy also released a Bitcoin tracker, indicating that they are buying the dip again, and the short-term buying pressure is quite strong.
This recent drop is mainly due to the negative impact of the Middle East conflict, as people are worried about escalating tensions and are seeking safety.
The cryptocurrency market has taken a bit of a hit this time, while other markets have not dropped much. It seems the cryptocurrency space is still too immature and easily influenced by emotions.
