Bitcoin Falls Below $100K: 50-Week Trendline Break Sparks New Resistance and Eyes on $90K Support
BTC/USDT
$30,482,073,707.86
$69,550.00 / $63,820.50
Change: $5,729.50 (8.98%)
+0.0004%
Longs pay
COINOTAG News highlights a market update by trader Eugene Ng Ah Sio, who notes Bitcoin briefly slipped below the $100,000 level, potentially shifting near-term momentum. He cites two drivers: the breach of the 50‑week moving average in this cycle and the psychological barrier at $100,000 that has now been breached.
From his perspective, this development could test the integrity of the current bull market structure and recalibrate market participants’ risk sentiment, signaling a change in the technical outlook for Bitcoin price analysis.
Ng Ah Sio adds he will not chase a bottom at current levels and sights around $90,000 as the first meaningful support zone, advising a defensive stance until price action clarifies.
For readers tracking the BTC price, the key takeaway is to observe the 50-week trendline and the new $90k–$100k range, coupled with disciplined risk management and clear price targets to navigate the evolving crypto market update.