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Bitcoin Faces Critical Test as Price Stalls Below Record High

  • Bitcoin is facing a critical test as its price stalls below the record high of $105,000, showing signs of hesitation after failed attempts to surpass this key technical level.
  • Over the past few days, Bitcoin has been trading between $94,000 and $105,000, indicating growing pressure and indecision among traders.
  • Market analyst Jason Pizzino warns of potential deeper corrections if Bitcoin falls below the support range of $91,000 to $94,000, which could weaken the bullish trend seen in 2021.
  • However, if Bitcoin stabilizes above these critical support levels in May, it could signal strength and pave the way for a potential rally towards new highs, with the current price hovering around $102,274.

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