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Bitcoin Price Update: Will Key Support Hold or Break?

Bitcoin is currently trading at $102,895, showing some weakness as it moves below the 50 EMA on the 4-hour timeframe. 

BTC Chart (Source Coingecko)

This indicates that short-term momentum is turning bearish.

The Relative Strength Index (RSI) is neutral, suggesting there's no strong buying or selling pressure at the moment. However, the MACD indicator is showing a negative signal, which could point to a potential bearish move ahead.

A critical support level lies at $100,450. If Bitcoin fails to hold this level, we might see a deeper pullback, possibly testing the $95,000 zone.

Key Levels to Watch:

  • Support: $100,450
  • Next Major Support: $95,000

Conclusion:

Bitcoin is at a crucial point. A break below $100,450 could trigger more downside. Traders should keep a close eye on price action around this level to plan their next move.

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