Bitcoin bulls must protect $100,000 to keep the bull market going
Bitcoin is facing a critical test of support around $100,000, which, if lost, may signal the end of its bull market. Popular trader Roman recently warned that a drop below this level would confirm a bearish trend reversal. Following a recent price dip of 15% from all-time highs above $125,000, traders are watching the $98,000-$100,000 zone closely for potential buy opportunities. Despite the current downtrend, some traders see signs of hope with bullish divergences appearing on the RSI indicator, suggesting a possible rebound. Positive sentiment remains among those who believe that if Bitcoin can hold this support level, new all-time highs could be achieved in the near future. Notably, Michaël van de Poppe advised that the $102,000-$104,000 area might serve as an ideal buying point, emphasizing the importance of current market conditions for future price movements.
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