Bitcoin’s Descent: A Soul in Freefall 🕊️💸

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Oh, what a cruel jest this is! The price of Bitcoin, that once-bright ember of hope, now flickers faintly, as if the very cosmos conspires to snuff it out. A mere 3% loss, and yet it feels like the end of days! Will the abyss swallow it whole, or shall it crawl back, a wretched beggar, to beg for mercy?

  • Behold, the descent! Below $95,000, that sacred threshold of delusion, and further still, to $94,500. A mockery of resilience, this plunge!
  • The price, a ghost, haunts the shadows of $98,000, while the 100-hour simple moving average looms like a specter, whispering of doom.
  • A bearish trend line, that insidious serpent, coils around $96,600, its fangs poised to strike. The hourly chart of BTC/USD, a canvas of despair, painted by Kraken’s grim hand.
  • If it dares to settle below $92,500, the chaos shall reign unchallenged. A veritable inferno of losses, awaiting its next victim.

Bitcoin’s Dying Breath

Alas, the price could not cling to the fragile promise of $95,500. The bears, those ravenous wolves of the market, prowled below, their howls echoing through the void. They dragged it lower, their claws sinking into its flesh, until it trembled at $94,000.

A low was struck at $92,890, a tombstone for hope. Now, it lingers near the 23.6% Fib retracement, a prisoner to its own past. A cruel irony: the very numbers that once promised salvation now bind it in chains.

Below $95,000, it quivers, a broken thing, its spirit crushed by the 100-hour simple moving average. And there, that bearish trend line, a noose tightening around its neck, with $96,600 as its final breath.

If the bulls, those deluded dreamers, dare to rise again, they shall face a gauntlet of resistance: $95,500, that hollow promise; $96,500, the trend line’s cruel jest; and $97,200, a mirage of hope. Should they breach $97,200, the price may soar… only to test $98,500, then $99,500, and finally, the phantom $100,000. A tragicomedy of false dawn!

The Abyss Awaits

If Bitcoin falters once more, the descent shall be swift. Immediate support, that fleeting glimmer, lies near $93,500. The first major shield? $92,500, a crumbling fortress. Beyond that, $91,500, a chasm of despair. Should it fall further, the $90,000 barrier looms, a final, cruel jest. And below? The $88,500, a bottomless pit where all hope is devoured.

Technical indicators, those cold, unfeeling judges:

Hourly MACD – A relentless march of the bearish tide, its tempo grim and unyielding.

Hourly RSI – A wretched soul, below 50, its light extinguished.

Major Support Levels – $92,500, then $90,000. A cruel hierarchy of ruin.

Major Resistance Levels – $95,500 and $96,600. The gates of hell, guarded by the market’s merciless will.

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2025-11-17 06:07