Bitcoin has recently breached key support levels, indicating a possible drop to $100,000. In August, Bitcoin fell 6.5%, breaking a four-month winning streak, as U.S.-listed spot ETFs experienced significant losses. This price decline led to breaks below crucial moving averages and horizontal support zones established at previous highs. Technical indicators such as the GMMA and MACD histogram suggest a bearish momentum shift, raising concerns of a sustained sell-off toward the 200-day SMA at $101,366 and possibly to $100,000. Historically, September is considered bearish for Bitcoin, with an average return of -3.49%, worsening the outlook. For bullish momentum, surpassing the recent high of $113,510 is necessary to negate this bearish trend. Key support levels noted include $105,240, $101,366, and $100,000, while resistance levels are framed at $110,756 and above.

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