Analyst Forecasts Bitcoin Price Will Break This Support Level, Can $100,000 Hold?

The Bitcoin price is once again under heavy pressure in the ￰0￱ analyst has warned that the coin shows strong bearish signs after being rejected at a resistance ￰1￱ price has now fallen to a critical support area, where buyers are trying to hold the ￰2￱ to the analyst, if the level fails, the price could drop even lower, raising doubts about whether the key levels will remain ￰3￱ Says Bitcoin Price Turned Bearish After $121,000 Rejection The analyst explained that the bearish trend began when Bitcoin strongly rejected the $121,000 resistance ￰4￱ to the analyst, that rejection forced the coin to break down from its earlier upward channel, which had guided the price during its last ￰5￱ this breakdown happened, the mood in the market shifted, and a new bearish phase took ￰6￱ Reading: VanEck CEO Reveals Which Altcoin Is “The Wall Street Token”, It’s Not XRP The analyst added that Bitcoin first moved within a downward channel, but even that structure could not ￰7￱ selling pressure increased, the coin also broke below the support level of this ￰8￱ downward move marked a shift in sentiment, as buyers could not keep the price ￰9￱ to the analyst, Bitcoin’s fall may now follow a steep local trend line, which could cause the coin to decline ￰10￱ kind of move shows that sellers are firmly in control for ￰11￱ analyst’s view is that the rejection at $121,000 was a turning point, and the coin has been unable to regain strength since ￰12￱ many traders, this level has become a clear resistance that won’t break again without strong demand. $109,700 Support Under Pressure, Analyst Targets $104,000 Next The analyst also pointed out that Bitcoin is now directly testing the key buyer zone at $109,700.

The level acts as a horizontal support, and the analyst says that if it fails, the bearish case could only grow ￰13￱ there may be a short period of sideways movement or a minor retest of the nearby trend line, the analyst believes the dominant force in the market remains downward ￰14￱ Reading: Bitcoin OG Who Told People To Buy BTC At $1 Reveals How High XRP Price Will Go In simple terms, the analyst expects the weight of selling to break the $109,700 ￰15￱ that happens, the path to $104,000 becomes the next logical ￰16￱ analyst explained that this lower zone could be the next support area where buyers might try to fight back. However, if $109,700 does not hold, the move to $104,000 could come ￰17￱ that, the market will begin to ask a bigger question — can Bitcoin hold the critical $100,000 level?

Traders are watching closely, because a break below that level would mark a significant shift in the broader ￰18￱ image from DALL. E, chart from ￰19￱