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BTCUSD Buyers Lose Steam
BTCUSD is once again approaching the pivotal $100,000 level, though bullish momentum appears to be fading. After facing stiff resistance near this milestone last week, the market retreated to $91,180. Despite the pullback, buyers have regrouped and are cautiously advancing toward the psychological threshold.
BTCUSD Key Levels
Resistance Levels: $100,000, $103,500 Support Levels: $91,180, $88,000
The recent bullish rally, which had gained traction over the past weeks, has started to weaken as buyers encounter mounting resistance near the $100,000 zone. This level has proven difficult to break, triggering a temporary correction. Despite the waning momentum, buyers continue to push upward, signaling a cautious but determined advance.
The Momentum Indicator reflects this slowdown, showing reduced bullish energy following the initial peak near $100,000. Meanwhile, the Stochastic Oscillator, though still in the buy zone, is weakening, indicating that sellers may begin to gain traction in the short term.
The immediate outlook for Bitcoin depends on its ability to retest and break the $100,000 resistance. A successful breakout could reignite bullish momentum, with $103,500 as the next target. However, if buyers fail to maintain control, a reversal toward the $91,180 or $88,000 support levels is likely.
Market Expectation
In shorter time frames, bearish pressure is becoming more evident as sellers drive prices lower, accompanied by declining momentum. The downward trend of the Stochastic Oscillator also suggests that sellers are currently in control. Traders should monitor these developments closely, especially for potential crypto signals that could indicate the next major move.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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