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Image Credit: Coindoo

Bitcoin Dropped Under $104,000 — Key Levels to Watch Out For

  • Bitcoin is currently trading at $104,360, marking a 3.10% decline with a total market cap of $2.07 trillion.
  • Despite the drop, trading volume surged by 28.47% to $67.97 billion, indicating intense activity likely from liquidations.
  • Key resistance levels to watch include $110,000, $106,000, and key support levels at $104,000 and $102,000–$103,000.
  • The recent selloff followed a failed breakout near $110,000 and could continue if BTC fails to reclaim $106,000.
  • Bulls might have an opportunity if Bitcoin stabilizes above $104,000 and consolidates with rising support.
  • Increased liquidations and market volatility have contributed to the recent price fluctuation.
  • A sustained move below $102,000–$103,000 could lead to further selloff pressure.
  • Volume decline after the recent spike could indicate potential downside risks.
  • Bitcoin's short-term outlook remains uncertain, hinging on its ability to hold key support levels.
  • The article was originally posted on Coindoo, offering insights into Bitcoin's latest price movements.

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