{"id":665642,"date":"2024-12-20T17:00:57","date_gmt":"2024-12-20T17:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=665642"},"modified":"2024-12-20T10:51:52","modified_gmt":"2024-12-20T10:51:52","slug":"bearish-pressure-keeps-bitcoin-below-99575","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/btc\/bearish-pressure-keeps-bitcoin-below-99575\/","title":{"rendered":"Bitcoin Under Siege: Bearish Pressure Keeps Price Below $99,575"},"content":{"rendered":"

Bitcoin<\/span><\/a> is under intense bearish pressure as it struggles to reclaim the $99,575 mark, a key resistance level that has proven to be a significant hurdle. After an impressive <\/span>rally<\/span> earlier in the month, BTC’s momentum has slowed, with sellers taking control and keeping the cryptocurrency in a tight range below this critical threshold.<\/span><\/p>\n

The current price action highlights growing uncertainty in the market, as bulls attempt to regain strength while bears capitalize on every opportunity to push prices lower. With $99,575 marked as a pivotal point, the next moves could set the stage for Bitcoin’s short-term <\/span>trend<\/span><\/a>. Will the bulls manage a breakthrough, or will bearish <\/span>dominance<\/span><\/a> prevail? The coming days hold the answer.<\/span><\/p>\n

Bitcoin Struggles Below The Critical $99,575 Resistance Level<\/h2>\n

Bitcoin is currently facing significant resistance at the $99,575 level as its price fights to break above this critical threshold. Despite attempts to rally, bearish pressure has kept BTC confined below this key resistance point, limiting its upward movement.<\/span><\/p>\n

Related Reading: Bitcoin Slips Below $100K: Is The Rally Losing Steam?<\/a><\/div>\n

As Bitcoin hovers near this level, <\/span>market<\/span><\/a> sentiment remains cautious since there are possibilities of a breakout or a deeper <\/span>pullback<\/span><\/a>. Furthermore, the $99,575 level remains pivotal, as a successful breach could signal further bullish momentum, while failure to surpass it may result in increased selling pressure.<\/span><\/p>\n

BTC\u2019s price has also dropped below the 100-day Simple Moving Average (SMA), a <\/span>key technical indicator<\/span><\/a> that often acts as a significant support level. This shift below the 100-day SMA suggests weakening upside strength and may signal that bears are gaining control.<\/span><\/p>\n

\"Bitcoin\"
Bearish price put BTC firmly below $99,575 and the 100-day SMA | <\/span>Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Historically, when the price falls below the SMA, it can indicate a potential <\/span>shift<\/span><\/a> in market sentiment, with further downside risk if the price fails to reclaim this important indicator. If BTC cannot regain momentum and climb above the 100-day SMA, it may face increased selling pressure, leading to more losses as bearish sentiment continues to dominate.<\/span><\/p>\n

Key Technical Indicators Suggest Challenges For BTC\u2019s Recovery<\/h2>\n

A critical analysis of the Composite Trend Oscillator indicator suggests that Bitcoin could be poised for more declines. The indicator’s trend line and the SMA\u2019s line have dropped below the zero line, a sign of bearish <\/span>momentum<\/span>.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Dips Again: Is The Momentum Shifting?<\/a><\/div>\n

When both these components fall below this threshold, it typically signals that the downtrend is gaining strength, indicating increased <\/span>selling<\/span><\/a> pressure. This bearish signal, combined with the price action below the 100-day SMA, suggests that Bitcoin may struggle to regain upward momentum in the near term.<\/span><\/p>\n

Conclusively, If bearish pressure on BTC continues, several key support levels will be crucial to monitor. The first significant level is $93,257, where the price could find initial support. Should BTC fail to hold above this point, the next <\/span>support zone<\/span><\/a> will be around $85,211, which has previously been a strong demand area. A sustained drop below these levels may suggest an extended price drop to other support ranges.<\/span><\/p>\n

\"Bitcoin\"
BTC trading at $95,236 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is under intense bearish pressure as it struggles to reclaim the $99,575 mark, a key resistance level that has proven to be a significant hurdle. After an impressive rally earlier in the month, BTC’s momentum has slowed, with sellers taking control and keeping the cryptocurrency in a tight range below this critical threshold. The current price action highlights growing uncertainty in the market, as bulls attempt to regain strength while bears capitalize on every opportunity to push prices lower. With $99,575 marked as a pivotal point, the next moves could set the stage for Bitcoin’s short-term trend. Will the bulls manage a breakthrough, or will bearish dominance prevail? The coming days hold the answer. Bitcoin Struggles Below The Critical $99,575 Resistance Level Bitcoin is currently facing significant resistance at the $99,575 level as its price fights to break above this critical threshold. Despite attempts to rally, bearish pressure has kept BTC confined below this key resistance point, limiting its upward movement. Related Reading: Bitcoin Slips Below $100K: Is The Rally Losing Steam? As Bitcoin hovers near this level, market sentiment remains cautious since there are possibilities of a breakout or a deeper pullback. Furthermore, the $99,575 level remains pivotal, as a successful breach could signal further bullish momentum, while failure to surpass it may result in increased selling pressure. BTC\u2019s price has also dropped below the 100-day Simple Moving Average (SMA), a key technical indicator that often acts as a significant support level. This shift below the 100-day SMA suggests weakening upside strength and may signal that bears are gaining control. Historically, when the price falls below the SMA, it can indicate a potential shift in market sentiment, with further downside risk if the price fails to reclaim this important indicator. If BTC cannot regain momentum and climb above the 100-day SMA, it may face increased selling pressure, leading to more losses as bearish sentiment continues to dominate. Key Technical Indicators Suggest Challenges For BTC\u2019s Recovery A critical analysis of the Composite Trend Oscillator indicator suggests that Bitcoin could be poised for more declines. The indicator’s trend line and the SMA\u2019s line have dropped below the zero line, a sign of bearish momentum.\u00a0 Related Reading: Bitcoin Price Dips Again: Is The Momentum Shifting? When both these components fall below this threshold, it typically signals that the downtrend is gaining strength, indicating increased selling pressure. This bearish signal, combined with the price action below the 100-day SMA, suggests that Bitcoin may struggle to regain upward momentum in the near term. Conclusively, If bearish pressure on BTC continues, several key support levels will be crucial to monitor. The first significant level is $93,257, where the price could find initial support. Should BTC fail to hold above this point, the next support zone will be around $85,211, which has previously been a strong demand area. A sustained drop below these levels may suggest an extended price drop to other support ranges. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":665648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,1119,1144,78790,92933,91599,85676],"class_list":["post-665642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-composite-trend-oscilator","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nBitcoin Under Siege: Bearish Pressure Keeps Price Below $99,575<\/title>\n<meta name=\"description\" content=\"Bitcoin is under intense bearish pressure as it struggles to reclaim the $99,575 resistance mark that has proven to be a significant hurdle.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/uniquehot.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Under Siege: Bearish Pressure Keeps Price Below $99,575","url":"http:\/\/uniquehot.com\/analysis\/btc\/bearish-pressure-keeps-bitcoin-below-99575\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/analysis\/btc\/bearish-pressure-keeps-bitcoin-below-99575\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin-from-Unsplash-19.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin-from-Unsplash-19.jpg?fit=3000%2C2000"},"articleSection":"BTC","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","composite trend oscilator","simple moving average","sma"],"dateCreated":"2024-12-20T17:00:57Z","datePublished":"2024-12-20T17:00:57Z","dateModified":"2024-12-20T17:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Under Siege: Bearish Pressure Keeps Price Below $99,575\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/btc\\\/bearish-pressure-keeps-bitcoin-below-99575\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/btc\\\/bearish-pressure-keeps-bitcoin-below-99575\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/Bitcoin-from-Unsplash-19.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/Bitcoin-from-Unsplash-19.jpg?fit=3000%2C2000\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"composite trend oscilator\",\"simple moving average\",\"sma\"],\"dateCreated\":\"2024-12-20T17:00:57Z\",\"datePublished\":\"2024-12-20T17:00:57Z\",\"dateModified\":\"2024-12-20T17:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin-from-Unsplash-19.jpg?fit=3000%2C2000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/665642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=665642"}],"version-history":[{"count":4,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/665642\/revisions"}],"predecessor-version":[{"id":665754,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/665642\/revisions\/665754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/665648"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=665642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=665642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=665642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}