Early in the American session, Bitcoin was trading at 99,341, making a technical correction after having reached a high of $102,000 during the European session. Technically, Bitcoin is positioned below the 200 EMA and below the 21 SMA. We are likely to see a fall in the next few hours with targets at 93,750 and 90,135.
In case the Bitcoin price consolidates below $100,000, it will be seen as an opportunity to sell with a target at $90,000 in the medium term.
Bitcoin volatility is increasing, so the price is expected to trade within the downtrend channel between $103,500 and above $93,750 in the coming days. If this scenario occurs, both levels could be considered signals to buy or sell.
As long as the BTC/USD price consolidates below the psychological level of $100,000, the outlook will remain negative until it can reach $87,500 and even $80,000.
