Bitcoin Holds At $93,257 As Bulls Struggle To Avoid Deeper Losses

Quick Summary:

As the battle between bulls and bears intensifies, the stakes are high: a successful defense could spark renewed momentum, while a break below might trigger significant losses.  As the market navigates this pivotal moment, this article aims to analyze BTC’s current position at the critical $93,257 support level, exploring the factors influencing its price movement.

Related Reading: Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance However, if selling pressure intensifies and BTC successfully breaks below the $93,257 mark, it could drop through key support zones, potentially triggering further declines toward the $85,211 support range and beyond.

Related Reading: Bitcoin Rally Pauses Before $100K—Here’s What Could Happen Next Despite trading above the key 100-day SMA, Bitcoin is showing strong negative momentum on the daily chart, highlighted by bearish candlesticks and increasing selling pressure.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: SMA BTCUSDT Bitcoin Btcusd Btc Relative Strnegth Index RSI Simple Moving Average Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 15:00:21 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 431 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23891278

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 9 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 8 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #102

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