Bitcoin Price Falls Short Again—Is a Deeper Decline Coming?

The article discusses the current struggle of Bitcoin price to clear the $100,000 resistance zone. Bitcoin started a fresh decline from the $98,500 zone and is now trading below $97,000 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support at $97,500 on the hourly chart. If Bitcoin stays above the $96,000 zone, it could start another increase.

However, if Bitcoin fails to rise above the $97,000 resistance zone, it could start a fresh decline. Immediate support is near the $96,150 level, followed by the $95,500 level and then the $95,000 zone. Further losses might send the price toward the $93,500 support in the near term, with the main support at $92,200.

Technical indicators show the MACD gaining pace in the bearish zone and the RSI for BTC/USD below the 50 level. The major support levels are $96,000 and $95,000, while the major resistance levels are $97,000 and $98,000.