Bitcoin has once again encountered resistance at the $100K level, leading to price fluctuations and creating market uncertainty.
Bitcoin Faces Resistance
Recently, Bitcoin reached $99,750 but faced resistance between $99,750 and $100,000. This caused a price drop and subsequent rebound. Experts believe that the current market structure could lead to a retest of these levels. However, failure to break the resistance could result in a pullback.
Descending Triangle and Market Uncertainty
Analysis of Bitcoin's four-hour chart on Binance shows a descending triangle forming. This pattern indicates ongoing bearish pressure. If the support level at $94,000 breaks, the price could drop to $91,000. So far, buyers have defended this area, causing short-lived recovery rallies.
Bitcoin Price Movement Prospects
Based on the current market pattern, a breakout above the descending trendline is possible. If bulls can maintain momentum, the price may retest the $100,000 level. Otherwise, persistent selling pressure may exacerbate the downward trend.
Bitcoin remains within a fluctuation range below the $100K mark, with its future trajectory depending on its ability to breach key resistance and support levels.
