Bitcoin (BTCUSD) has been trading sideways since the morning, recently testing a crucial support level at $98,330. As noted earlier, a breakdown below this level is expected to trigger a further decline, with the primary target set at $93,405.
Given the current market conditions, we maintain a bearish outlook for the day unless Bitcoin breaks above $101,200 and sustains trading above this resistance level.
The anticipated trading range for today is between the support at $94,000 and resistance at $101,000.
Trend Forecast: Bearish
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