Headline: Bitcoin Slides Below Key Support as Bears Test $100K Barrier
Bitcoin slipped through a critical support cluster, extending a pullback that now sits roughly 26% below October’s peak. The latest leg lower saw BTC breach a confluence of technical markers, shifting near-term momentum in favor of sellers and putting the cryptocurrency’s uptrend under pressure.
The breakdown came through a pivotal zone that included the 38.2% Fibonacci retracement around $96,975 and a prior swing area near $98,240, both reinforced by a rising trendline. Losing that band suggests a change in market bias, with traders treating it as resistance until price can reclaim and hold above it. Momentum remains fragile while BTC trades beneath this zone.
For buyers to reassert control, Bitcoin would need to recover back into the broken range and sustain a move above the $100,000 psychological level. A decisive close over that threshold would strengthen bullish sentiment and re-open the path toward higher highs. Until then, the risk backdrop favors cautious positioning, with support and resistance levels guiding short-term cryptocurrency trading strategies.
Key Points – BTC is down about 26% from its October all-time high, extending the correction. – Price fell below the 38.2% Fibonacci retracement near $96,975 and a prior swing area around $98,240. – The break under a rising trendline reinforces a bearish near-term bias. – Reclaiming the broken zone and holding above it is key for a bullish turnaround. – A sustained move over the $100,000 psychological level would confirm improving momentum. – Traders are focusing on support/resistance and trend structure to gauge risk in the crypto market.
