Bitcoin ($BTC ) is facing a critical breakdown, trading at $98,332 after a sharp drop from its recent peak of $102,724, hitting a low of $97,153 before finding temporary support. The 1-hour chart indicates strong bearish pressure, and traders should watch the $98,917 resistance level closely for potential recovery signs, which could trigger a short-term bounce towards $100,960 and $102,724.
๐ฅ A break below $97,150 could signal further downside, targeting $96,875 and $95,500. With high volatility in this zone, traders should be prepared for both breakout and reversal strategies, ensuring they manage risk with tight stop-losses at $97,150 for longs and $98,350 for shorts to safeguard against market reversals.
