3 min readBITCOIN (BTC/USD):
Bitcoin experienced a sharp sell-off during this morning’s London session, with its price slipping and dropping below $100,000 for the first time in several weeks.
A closer analysis of the technicals reveals that we appear to be retesting the ascending trend line we previously broke above. However, the resistance zone at the prior all-time highs (ATHs) remains firmly intact. I’ll be closely monitoring whether the price can maintain support at the daily 50 EMA or possibly dip into the lower demand zone around $95,000. Additionally, the price has reached the 50% Fibonacci level and seems to be rejecting it for now. I’ll continue watching to see if we can resume upward momentum from this point.
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