After briefly stabilizing near $102K–$103K earlier in the week, the market has flipped decisively bearish, with price losing three major support zones in less than 48 hours.
The latest move takes Bitcoin back to levels last seen in early October, reflecting a rapid shift in trader sentiment.
Bitcoin attempted to reclaim $105K earlier in the week but faced consistent supply pressure, leading to a rounded top structure visible on the chart. Each bounce produced lower highs, signalling fading conviction among buyers.
Yesterday’s breakdown below $100K triggered accelerated selling, turning the retracement into a clearer downtrend. The move pushed BTC to $97,300 at the time of writing, where the market is attempting to stabilize, but with weak buy-side energy.
Trading volume has increased steadily throughout the decline, signalling that the move is driven by active selling rather than passive drift.
This matters: rising volume during downward moves often confirms trend strength, not exhaustion.
The bottom of the chart shows a thickening volume profile on the decline, suggesting that sellers remain in control.
BTC now sits directly on top of a support pocket stretching from:
A clean break below $96,500 would weaken the broader structure and expose:
If BTC attempts a recovery, it must reclaim:
Failing to flip these will keep momentum bearish.
The sharp reversal from above $105K to below $100K has shifted sentiment firmly toward caution. Funding rates have normalized, and traders who were aggressively long earlier in the week are now reducing exposure.
Importantly, no strong bullish divergence has formed yet.
The market is watching closely for:
Bitcoin is at a pivotal point:
Hold $97K, and a short-term rebound toward $100K becomes likely.
Lose it, and the next meaningful support does not appear until the $94K–$92K range.
Right now, the trend favours sellers, but the next 6-12 hours will determine whether BTC stabilizes or continues deeper into correction territory.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
The post Bitcoin Slides to $97K as Momentum Weakens: Key Levels Now in Focus appeared first on Coindoo.
