Bitcoin Tumbles Below $100,000, Raising Concerns Among Traders

Bitcoin price began a fresh decline on Monday, falling below the critical $100,000 level. BTC price now risks sliding further towards the $92,000 support zone.

Bitcoin price started a new decline on Monday, as the bears continue to put pressure on the dominant cryptocurrency. BTC price dropped below the $100,000 level once again, and it is now approaching a crucial support zone.

Bitcoin price began a strong上涨上周五未能维持其势头，未能突破 102,000 美元的上方阻力。从那里开始，BTC 价格开始下跌。

BTC price dropped below the $100,000 level and the 100 hourly simple moving average (SMA). The first major support is forming near the $98,500 level, which is close to the 23.6% Fib retracement level of the downward wave from the $108,295 high to the $95,586 low.

If Bitcoin fails to break the $98,500 resistance, it could continue to slide. On the downside, immediate support is near the $96,200 level. Major support lies afterwards near the Fib retracement levels of 38.2%, 50%, and 61.8% at $95,500, $93,200, and $92,000, respectively.

Any further slide will likely push Bitcoin towards the $92,000 level. From there, the bulls might step in to defend the round number support, highlighting the volatility of the crypto markets.

On the upside, Bitcoin price could find resistance near the $98,500 level. The first major resistance is forming near the $100,000 level. If Bitcoin clears the $100,000 resistance, a rally is on the cards. The next crucial resistance is near the $102,000 level. Breaking this barrier could send the price higher.

In some cases, the price may rally to test the $103,400 resistance, or the 61.8% Fibonacci retracement level. Any further gains could potentially push the Bitcoin price towards the $105,000 mark.