Bitcoin Crash Near $100K as Bears Tighten Grip: Is the Crypto Crash Confirmed?
Bitcoin's price has sharply declined, nearing the critical $100,000 level amid strong selling pressure. Over the last 48 hours, Bitcoin fell from $107K to just above $100K, breaching key support levels at $104K and $106K. Technical indicators like the RSI (33.6 on 2-hour chart, 31.8 on daily) suggest oversold conditions, while the MACD indicates strong bearish momentum. If Bitcoin fails to hold the $100K level, potential downside targets include $97K–$95K, $92,870, and $90K–$88K. Conversely, stabilization above $100K could lead to a rebound, with resistance levels at $104K, $106K–$109K, and $112K–$114K. A breakout above $110K could signal a bullish reversal, targeting $120K and $124K–$125K.
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Bitcoin Price Crashes Towards Key $100K Level
Bitcoin ($BTC) has tumbled close to the critical $100,000 mark, which represents its most important psychological and technical level this quarter. Over the past 48 hours, Bitcoin fell from around $107K to just above $100K, breaking below major support levels at $104K and $106K.
Bearish Momentum on Bitcoin Daily Chart
The daily chart indicates a confirmed bearish crossover between the 9-day and 21-day moving averages, both of which are now trending below the 200-day SMA ($109K). This alignment signals that short-term momentum has firmly shifted to the downside.
Technical Indicators Hint at Further Downward Pressure
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RSI (Relative Strength Index):
- On the 2-hour chart, RSI is around 33.6, approaching oversold levels, which may precede short-term relief rallies.
- On the daily timeframe, RSI has dropped to 31.8, signaling that Bitcoin is in oversold territory but with no indication of a bullish divergence yet.
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MACD (Moving Average Convergence Divergence):
- MACD lines are sharply below zero on both short- and long-term timeframes, with widening histogram bars. This demonstrates intensifying bearish momentum, suggesting the downtrend could persist if volume remains high.
Next Downside Targets for Bitcoin
If Bitcoin ($BTC) fails to hold above the $100K level, the next potential downside targets include:
- $97K – $95K: Initial liquidity pocket that might trigger a short bounce.
- $92,870: Significant historical support from previous accumulation phases.
- $90K – $88K: A stronger demand zone where buyers could return aggressively.
A sustained close below $100K would likely confirm a deeper corrective move, potentially extending to $85K, representing a 50% retracement from its $125K all-time high.
Upside Scenarios if Bitcoin Holds $100K
Should Bitcoin stabilize above $100K, a short-term rebound could occur, targeting the following resistance levels:
- $104K: A former support now turned resistance.
- $106K – $109K: Confluence zone with key moving averages.
- $112K – $114K: Reclaiming this zone would restore the mid-term bullish structure.
A daily close above $110K would signal a shift in sentiment back toward bullish, opening the door to testing $120K or even retesting the $124K–$125K region, the previous all-time high.