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Bitcoin Faces Technical Support Test at $104K Amid Downtrend
The recent drop in Bitcoin's value has caused it to dip below the $107,500 mark and hover around $104,604. The immediate resistance level is set at $107,500, with critical support levels at $104,000 and $103,200. Should the decline continue, the price could potentially approach $102,500.
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AI Analysis
The recent decline in Bitcoin's price indicates a significant short-term bearish trend, especially with the move below the critical resistance of $107,500. The support zones at $104,000 and $103,200 a...
AI Recommendation
Given the current technical setup, it is advisable to exercise caution and wait for confirmation of the support levels holding or breaking. If support at $104,000 is confirmed to hold, there may be an...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.