Bitcoin Bears Take Control to Start the Week
Bitcoin ($BTC) broke below the key support level of $116,000 on Friday, continuing its downward momentum into the weekend. As the new week begins, selling pressure remains high, driving the price down near the next critical support at $113,000.
As of Monday, Bitcoin is trading just under $113,000. To maintain any short-term bullish momentum, BTC needs to close above the $113,000 level on the daily timeframe. A close below this threshold could open the door for further declines, with the next major support around $107,250.
Technical indicators are also showing signs of weakness. The Relative Strength Index (RSI) is hovering near 50 and may dip below its neutral zone, while the MACD (Moving Average Convergence Divergence) is approaching a potential bearish crossover — especially if the price stays under $113K.
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