Bitcoin has been above $100K for exactly 6 mths (Patreon)

We're approaching a key psychological support level— the $100K line i had a feeling this morning we would hit and we did. The market has tested five times over the past six months, each time bouncing back.

What makes the current setup concerning is that the price has now fallen well below the cloud, a serious crash and the mean reversion of the indicator is showing extremely oversold conditions. So this is unusual.... something out of the ordinary is happening.

Holding the $100,000 level is critical. But with the market dropping $3,000–$4,000 per day, pressure is intensifying.

Unfortunately, there’s no sugar-coating it: if this support breaks, the next targets are likely $95,000 (level 5 on ATR) , and potentially as low as $92,000.