Bitcoin to below $100,000 now possible as BTC flashes death cross
Bitcoin’s (BTC) attempt to reclaim the $110,000 mark appears to have stalled, with technical indicators suggesting a possible correction may be underway. In this case, Bitcoin is facing strong resistance near the descending trendline around $109,000. This level has opened the door for a potential pullback below the psychological $100,000 threshold, according to a June 30 Analysis by crypto analyst Ali Martinez. The most concerning signal comes from the Stochastic RSI, which has flashed a bearish death cross, a pattern that occurs when the fast stochastic line crosses below the slow line in overbought territory. This typically signals weakening bullish momentum and growing downside pressure. Bitcoin price analysis chart. Source: TradingView/Ali_charts Meanwhile, the Relative Strength Index (RSI) is also retreating from recent highs, further reinforcing signs that upward momentum is fading. The failure to break above key resistance, combined with these bearish ...