Bitcoin is trading around the psychological level of $100,000 with a negative bias. It is likely to continue its fall in the coming days until the price reaches 3/8 Murray around $75,000.
The eagle indicator is producing a bearish signal. In case BTC consolidates below the 21 SMA located around $115,000, crypto will remain under bearish pressure. It is likely that any technical bounce could be seen with a signal to continue selling in the coming days.
We must be very careful: below the psychological level of $100,000, the outlook for Bitcoin could change, and crypto could even reach the 200 EMA around $65,856 in the medium term.
If BTC falls below 100K in the next few months, it could lose 50% from its all-time high around $126,000. Bitcoin could slump towards $65,000 (200 EMA).
On the contrary, if the price consolidates above $100,000, we could see it as a signal to buy with targets at $115,000 and at 5/8 Murray around $125,000. Once this level is surpassed, Bitcoin is expected to reach the key 6/8 Murray level around $150,000.
