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Bitcoin Price Update: Will BTC Bounce or Fall Further?

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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