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Bitcoin Reclaims $100K: Bulls Gaining Strength

Bitcoin is trading above $100,500, supported by the 100-hour Simple Moving Average. 
A breakout above $102,000 could push the price to $104,000 and possibly $106,000.

Key Levels:

🔸Resistance: $102,000 and $104,000.

🔸Support: $100,000 and $95,500.

Bitcoin remains bullish as long as it holds above $100,000.

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Bitcoin Price Analysis: Key Support and Resistance Levels to Watch

 Bitcoin (BTC) is currently trading around $90,800 after facing a strong rejection near the $94,800 resistance zone. The recent pullback suggests increasing sell pressure as the market cools down from overbought conditions. BTC Chart (Source TradingView) From a technical perspective, momentum indicators are showing weakness. The MACD has turned negative , signaling a possible short-term bearish trend, while the RSI is moving lower , indicating that bears are gaining control. These signals suggest caution for traders in the near term. However, Bitcoin is approaching a critical support level at $90,288 , which remains a strong demand zone. If this support holds, BTC could see a rebound and make another attempt to break above the $94,800 resistance . A successful breakout above this level may open the door for further upside momentum. On the downside, if Bitcoin fails to hold the $90,288 support , selling pressure could intensify, pushing the price toward the $88,000 support zone ...