Bitcoin’s Big Fall: Bulls Flee, Bears Feast! šŸšŸ’°

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Bitcoin, that fickle jester, has once again thrown its hat into the ring… only to have it snatched by the wind. BTC, ever the drama queen, is now trimming its gains like a disgruntled gardener with a hedge trimmer. If it dares to dip below $102,500, expect the bears to throw a party so loud, even the moon will cover its ears. šŸ§™ā€ā™‚ļø

  • Bitcoin, after a brief fling with $107,000, has now decided to play hide-and-seek with the bulls. A fresh decline, because nothing says “Iā€™m serious” like a 100-hour Simple Moving Average thatā€™s about as reliable as a weather forecast in a thunderstorm. šŸŒ©ļø
  • The price is now playing hide-and-seek with $105,500, while the 100-hour SMA sits there like a grumpy gatekeeper. ā€œYou shall not pass!ā€ it says, but no oneā€™s listening. šŸšŖ
  • A bullish trend line, once a beacon of hope, has now been shattered like a piƱata filled with disappointment. The support at $104,200? A ghost thatā€™s long since left the building. šŸ•Æļø
  • If BTC dares to settle below $102,500, expect the bears to unleash a tempest of panic so fierce, even the most seasoned traders will start questioning their life choices. šŸŒŖļø

Bitcoin Price Trims Gains

Bitcoin, in a moment of fleeting optimism, tried to flirt with $105,000. It climbed past $105,500 and $106,000, but the bears, ever the party poopers, swooped in like vultures at a funeral. The high at $107,400? A mirage that vanished faster than a magicianā€™s rabbit. šŸ‡

A drop below $105,500 and $105,000 followed, as if the market itself had yawned and said, ā€œNot today, thank you.ā€ The 50% Fib retracement level? A red herring so convincing, even the most skeptical trader might have believed it. šŸ§ 

Besides, the bullish trend line at $104,200? A crumbling castle in a sandstorm. Now, BTC is trading below $105,000 and the 100-hour SMA, which is about as comforting as a cold cup of tea on a rainy day. ā˜•

If the bulls attempt another recovery wave, theyā€™ll face resistance at $104,000, a level so stubborn, itā€™s like trying to convince a brick wall to move. The first key resistance? $104,750, a fortress of stone and skepticism. If they break through, the price might rise to test $107,000-only to be met with the same cold shoulder. šŸ§Š

More Losses In BTC?

If Bitcoin canā€™t crack $105,000, expect it to start another decline, because nothing says ā€œIā€™m seriousā€ like a market thatā€™s as reliable as a clockwork orange. Immediate support? $102,800, a lifeline thatā€™s about as sturdy as a spaghetti strand. šŸ

The first major support? $102,400 and the 61.8% Fib retracement level, both of which are as trustworthy as a politicianā€™s promise. The next support? $101,200, a level so fragile, itā€™s like balancing on a tightrope made of jelly. šŸ§

If the losses continue, the price might head toward $100,200, a zone so perilous, even the bravest traders would think twice. The main support? $100,000, a line in the sand thatā€™s as firm as a wet noodle. Below that, BTC might struggle to recover, because nothing says ā€œIā€™m doneā€ like a market thatā€™s seen its last hurrah. šŸŽ­

Technical indicators:

Hourly MACD – Gaining pace in the bearish zone, because nothing says ā€œIā€™m seriousā€ like a line thatā€™s as cheerful as a funeral. šŸ•Æļø

Hourly RSI – Below 50, because nothing says ā€œIā€™m pessimisticā€ like a number thatā€™s as low as a squirrelā€™s expectations. šŸæļø

Major Support Levels – $102,500, followed by $101,200. A duo as reliable as a broken compass. šŸ§­

Major Resistance Levels – $104,000 and $105,000. A pair as stubborn as a mule in a hurricane. ā›ˆļø

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2025-11-12 05:32