Bitcoin Technical Outlook: BTC Dips Toward $100K Support as Selling Pressure Intensifies

Bitcoin (BTC) has extended its downside correction, dropping sharply below $105,000, testing the 0.236 Fibonacci support at $104,806. The breakdown below key EMAs — 20 EMA ($109,839), 50 EMA ($111,972), and 100 EMA ($112,081) — confirms sustained bearish momentum in the short term.
BTC is now hovering above the major demand zone between $104,000–$102,000, where the 200 EMA ($108,283) previously provided strong support but has now turned into resistance. A decisive daily close below $104,000 could open the door toward $100,000–$98,200, marking a deeper retracement phase.
The RSI (30.8) has entered the oversold territory, suggesting the potential for a technical rebound or short-term consolidation. However, upside momentum remains capped unless BTC reclaims $108,900 (0.382 Fib) and $112,000 (0.5 Fib) levels.
On the bullish side, a confirmed move above $112,000 could signal renewed momentum toward $115,500 (0.618 Fib) and $120,200 (0.786 Fib), while rejection here would likely extend the correction phase.
📊 Key Levels
Resistance: $108,900 → $112,000 → $115,500 → $120,200
Support: $104,000 → $102,000 → $98,200
RSI: 30.8 — Oversold zone, potential short-term bounce
Overall: Bitcoin is approaching a critical support zone near $104K, where bulls must defend to prevent a deeper drop toward $100K. While short-term oversold conditions hint at a possible rebound, the broader tone stays bearish below $112K.
$BTC
#Bitcoinpriceanalysis