Bitcoin dropped to $ 93,300 in a flash

Bitcoin BTC $98,226.29 Bitcoin 1.61% Market capitalization $1.95 trillion VOL. 24 hours $1.66 billion continues to be under pressure, having tested the support level around $ 95,000. After unsuccessful attempts to gain a foothold above $ 98,000, the BTC price began a new decline, breaking through $ 96,200 and falling to a low of $ 93,388.

The asset is now trying to recover, rising above $ 95,000, but key resistance levels remain strong. The nearest barrier to growth is at $ 96,000, where a bearish trend line has also formed. Additional resistance is located in the $ 96,750 area, which, if overcome, could give rise to a test of $ 97,500. In the event of further strengthening, bitcoin could reach $ 98,200 or even $ 98,500.

If BTC fails to break through $ 96,000, there is a risk of a new decline. The first level of support is at $ 95,000, and the main protection zones are located at $ 94,200 and $ 93,400. If the selling pressure continues, the rate could drop to $ 92,200, and in extreme cases, to $ 91,000.

Technical analysis indicators point to market uncertainty. The MACD is gradually losing momentum in the bearish zone, and the RSI has dropped below 50, indicating that buyers are weak. To change the dynamics, BTC needs to gain a foothold above $ 96,750, otherwise the risks of further decline remain high.