Bitcoin (BTCUSD) has entered a new phase of negative trading, pressing on the critical support level at $95,195.00. This level coincides with the 23.6% Fibonacci retracement for the recent price movement from $52,598.40 to $108,350.45. The price is currently under the influence of negative pressure from the 50-period exponential moving average (EMA50), suggesting potential further downside in the near term.
Trend Outlook: Bearish
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