High
Bitcoin is under significant selling pressure, extending declines below key support levels ($112,500, $112,000). the market is exhibiting a 'risk-off' tone, with technical indicators like macd and rsi confirming bearish momentum, indicating a potential for further substantial drops.
High
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Bearish
Bitcoin failed to hold pivot levels and has entered a bearish zone, trading below $112,000 and the 100-hourly simple moving average. a bearish trend line is forming, macd is bearish, and rsi is below 50. if $108,800 is breached, further losses towards $106,500 and even $103,500 are expected.