Bitcoin Price Update: Will BTC Bounce or Fall Further?

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Bitcoin (BTC) is currently trading around 101,820, after dropping sharply from 103,775. 


BTC Chart (Source Coingecko)

This sudden fall has pushed the price below two important moving averages — the EMA50 and EMA200 — which signals some short-term weakness in the market.

However, it’s important to note that the EMA50 is still above the EMA200, which means the bigger trend is not fully bearish yet.
A strong support zone lies at 100,728, and what happens at this level will likely decide Bitcoin’s next move.

Key Levels to Watch:

  • Support: 100,728
    If Bitcoin holds above this support, we could see a bounce back toward the 103,000 zone.

  • Breakdown Risk: If it fails to hold above 100,728, BTC may drop further to test the next support around 97,750.

RSI Indicator:

The Relative Strength Index (RSI) is close to the oversold zone. This is usually a good sign for buyers, as it can lead to a short-term bounce if demand returns.

Summary:

Bitcoin is under pressure after a sharp fall, but support at 100,728 and the nearing oversold RSI give hope for a possible recovery.
Keep an eye on how BTC reacts at this support level — it could decide whether we see a bounce or a deeper pullback.

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