Bitcoin Price Dips Below $100K, Eyes $91K-$95K; RSI Diverges
Bitcoin price dipped below $100,000 after trading near $107,000 over the weekend, pressured by weak buying and risk-off macro sentiment. The Bitcoin price fell about 7% this week, hitting its lowest levels in months. Analyst Crypto Tony warns of a slide toward $95,000â$91,000. In contrast, Daan Crypto Trades highlights strong support at $105,000, with a potential rebound if global equities rally. The four-hour RSI hit its lowest since April and shows bullish divergence, indicating easing selling pressure. Meanwhile, the Crypto Fear & Greed Index plunged to 22, entering extreme fear and signaling oversold conditions. Traders should monitor key support levels around $105,000, watch RSI trends, and track equity market movements for potential short-term rebounds.
Bearish
The news highlights renewed downward pressure on Bitcoin price, with a weekly drop of around 7% and forecasts of further slides to $95Kâ$91K if key levels fail. Although the RSI divergence and extreme Fear & Greed Index suggest an oversold bounce, the dominant risk-off sentiment and weak buying leave the path of least resistance to the downside in the short term. Long-term recovery depends on equity market strength and the $105K support holding.