Bitcoin ($BTC) has tumbled close to the key $100,000 mark — its most critical psychological and technical level this quarter. Over the past 48 hours, BTC fell from around $107K to just above $100K, breaking below major supports around $104K and $106K.
BTC/USD 2-hour chart - TradingView
The daily chart shows a confirmed bearish crossover between the 9-day and 21-day moving averages, both now trending below the 200-day SMA at $109K. This alignment confirms short-term momentum has shifted firmly to the downside.
RSI (Relative Strength Index):
On the 2-hour chart, RSI sits around 33.6, approaching oversold levels, which often precede short-term relief rallies. On the daily timeframe, RSI has slipped to 31.8, signaling that BTC is in oversold territory but not yet showing bullish divergence.
BTC/USD 1-day chart - TradingView
MACD (Moving Average Convergence Divergence):
The MACD lines remain sharply below zero on both short and long-term timeframes, with histogram bars widening. This reflects intensifying bearish momentum — a sign that the downtrend could extend if volume remains high.
If $Bitcoin fails to defend the $100K area, the next potential downside targets are:
A sustained close below $100K would likely confirm a deeper corrective leg, potentially extending to $85K, marking a 50% retracement from the $125K highs.
If Bitcoin manages to stabilize above $100K, a short-term rebound could form.
Resistance levels to monitor:
A breakout and daily close above $110K could shift sentiment back toward bullish, targeting $120K and potentially retesting $124K–$125K, the previous all-time high region.
