Bitcoin $100,000 Rejection Triggers Sell-Off – Key Support In Sight

Source Newsbtc

Bitcoin attempt to sustain momentum above the highly anticipated $100,000 mark has faced stiff resistance, leading to a sharp pullback. Its rejection at this psychological level has fueled bearish pressure, pushing BTC into a corrective phase as sellers take control. Now, all attention turns to key support zones that could determine whether Bitcoin stabilizes or extends its decline.

BTC might see a strong rebound if buyers step in at critical support levels, reigniting bullish momentum. However, a failure to hold above these zones may open the door for further downside, potentially testing lower price levels. As uncertainty looms, Bitcoin’s next move will be pivotal in shaping its short-term trend. 

Bearish Pressure Mounts As Bitcoin Struggles To Hold Gains

Bitcoin is currently experiencing strong bearish pressure, approaching the $93,257 level while trading below the 100-day Simple Moving Average (SMA). This downward move reflects weakening momentum as sellers continue to dominate price action. Its inability to break above the $100,000 mark and reclaim the 100-day SMA suggests that BTC may remain vulnerable to further declines unless buyers step in at key support levels.

The downward movement suggests a shift in market sentiment, with declining bullish strength and increased volatility. If Bitcoin fails to stabilize near $93,257, it could open the door for more downtrend, testing lower support levels. However, a strong defense by buyers at this range would signal a reversal attempt, offering a chance for Bitcoin to reclaim lost ground and regain its uptrend.

Bitcoin

Furthermore, Bitcoin’s Relative Strength Index (RSI) is also gaining bearish traction declining from the neutral territory toward the oversold zone. This shift suggests weakening buying pressure, allowing sellers to dictate price action. A continued drop in the RSI could reinforce the downward trend, signaling the potential for further declines if bearish sentiment persists.

Nonetheless, if the RSI approaches oversold conditions, it may indicate that Bitcoin is nearing a point of exhaustion, where buyers could step in to trigger a short-term rebound. The next few trading sessions will be crucial in determining whether Bitcoin finds support or extends its decline under mounting bearish pressure.

What’s Next For Bitcoin? Critical Levels To Watch

Bitcoin’s recent rejection at $100,000 has put key support levels in the spotlight as bearish pressure intensifies. The $93,257 level now serves as a crucial test—holding above it is likely to signal a possible bounce, while a breakdown may accelerate losses toward lower support zones.

Should the price drop below the crucial $93,257 support level, bearish momentum could accelerate, increasing the likelihood of a deeper correction. Such a breakdown may trigger further selling pressure, pushing Bitcoin toward the next key support zone at $85,211. 

However, if Bitcoin holds above the $93,257 support level, it could trigger a rebound toward the $100,000 mark. A breakout above this key resistance bolsters upside movement, paving the way for gains.

Bitcoin
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
WTI Crude Prices Capped at $100, Has the Rally Ended? How to Trade the Short Term? Today (March 18), WTI crude oil continued to exhibit significant short-term volatility, driven by a tug-of-war between headlines and data. Intraday, prices retreated from Tuesday's high o
Author  TradingKey
9 hours ago
Today (March 18), WTI crude oil continued to exhibit significant short-term volatility, driven by a tug-of-war between headlines and data. Intraday, prices retreated from Tuesday's high o
placeholder
Silver Price Forecast: XAG/USD consolidates above $79.00; bearish bias intact ahead of FedSilver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.
Author  FXStreet
17 hours ago
Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.
placeholder
WTI rises above $95.00 as Iran's attacks on facilities fuel supply fearsWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.00 during the early Asian trading hours on Wednesday. The WTI price climbs amid intensifying Middle East conflict and severe supply disruptions.
Author  FXStreet
18 hours ago
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.00 during the early Asian trading hours on Wednesday. The WTI price climbs amid intensifying Middle East conflict and severe supply disruptions.
placeholder
Surging Over 20%. Ethereum Crushing Bitcoin, What Does This Really Mean?Ethereum has surged over 20% in the past eight days, far outpacing Bitcoin's gains, suggesting that capital is favoring more volatile altcoins.On March 17 (GMT+8), the crypto market ralli
Author  TradingKey
Yesterday 10: 28
Ethereum has surged over 20% in the past eight days, far outpacing Bitcoin's gains, suggesting that capital is favoring more volatile altcoins.On March 17 (GMT+8), the crypto market ralli
placeholder
Gold rises on Middle East tensions; inflation fears temper rate cut bets and cap gainsGold (XAU/USD) edges higher during the Asian session on Tuesday, though it lacks follow-through and remains close to an over three-week low, touched the previous day.
Author  FXStreet
Yesterday 05: 50
Gold (XAU/USD) edges higher during the Asian session on Tuesday, though it lacks follow-through and remains close to an over three-week low, touched the previous day.
goTop
quote