Bitcoin's Bearish Pressure Builds: Key Levels to Watch

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·@hooiyewlim·
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Bitcoin's Bearish Pressure Builds: Key Levels to Watch
![IMG_20250205_092215.jpg](https://images.hive.blog/DQmcezqNaFp7v7EcncZC8GcUTGi1tnTKGCN8CqYvQeNupsU/IMG_20250205_092215.jpg)


### Technical Analysis:
1. **Price Movement**: Bitcoin (BTC) is trading at $98,312, showing a 2.70% drop over the last 4 hours. 
2. **Moving Averages**:  
   - EMA(7) at $98,668.06 (short-term resistance).  
   - EMA(25) at $99,574.30 and EMA(99) at $101,225.37, indicating a bearish crossover with prices trading below key EMAs.  
3. **Support and Resistance**:  
   - Immediate support at $96,150 (24-hour low).  
   - Resistance at $101,732 (24-hour high).  
4. **Volume**: Declining 24-hour trading volume (40,147 BTC), reflecting weakening market momentum.  
5. **RSI(6)**: At 45.07, signaling neutral to slightly bearish momentum, with room for potential downside.  
6. **Candlestick Pattern**: Recent red candles with long wicks suggest rejection of higher prices and seller dominance.

### Conclusion:
Bitcoin faces bearish pressure as it struggles to reclaim EMA levels. Traders should monitor $96,150 for a potential breakdown or $101,732 for signs of recovery. Caution is advised until a clear trend emerges.
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