Bitcoin Eyes ‘Moment Of Truth’ As Price Retests $100,000 Support – Is The Rally Over?

Bitcoin is struggling to maintain $100,000 as support after failing to close the week above a critical level. The cryptocurrency experienced a 9% drop, reaching the $100,000 area for the first time in months. Analysts suggest that breaking below the recent low could lead to a further decline toward $90,000. Liquidity clusters exist around $90,000 and near the all-time high of $126,000. One analyst anticipates Bitcoin going to $90,000 to fill a CME gap before reversing. Another analyst suggests a potential rebound to $106,500 or $112,000 if Bitcoin holds the current support. Bitcoin is retesting its 50-week Exponential Moving Average, considered a crucial indicator. Losing this level could signal significant downside, while a rebound could trigger a bullish rally. The market is at a "moment of truth" regarding the 50-week MA to remain bullish. Currently, Bitcoin is trading around $100,356, reflecting a 6% daily decline.