Bitcoin is struggling to stay above $100,000. A short-term correction may be on the horizon. The $100K level is a key support zone.
The 4-hour chart shows choppy price action. The $108K resistance zone rejected Bitcoin’s upward move. The RSI is also indicating a potential downturn.
Despite the warning signs, on-chain analysis offers some hope. Short-term holders have already taken profits. This could lead to a supply shrink and push prices higher.
Investors should watch Bitcoin’s price closely. Breaking below $100K could trigger a deeper correction.
