BTCUSD continues its sharp decline, plunging decisively below the key psychological support at $100,000

BTCUSD remains in a sharp downtrend for the fourth consecutive day, with Thursday and early Friday seeing accelerated selling driven by broader risk-off sentiment.

Traders are cautious amid the absence of key economic data due to the prolonged US government shutdown, prompting a move away from risk assets.

Bitcoin decisively broke through critical support levels at 100,340 and the psychological 100K (also 50% retracement of the 74,389–126,299 rally), and extended below the June 22 low of 98,182. The price dipped under 96K, marking the lowest level since early May.

Bears now target 94,219 (Fibo 61.8%) and 93,203 (top of the ascending weekly Ichimoku cloud), though short-term relief or price adjustments are possible as daily studies enter oversold territory.

The recent decline completed a bearish failure swing on the daily chart, reinforcing the negative outlook signaled by strongly bearish daily technicals—14-day momentum deep in negative territory, MAs aligned in full bearish configuration, and converging 55/200 DMAs approaching a death cross.

Previously broken supports at 101,370 and 100K (55WMA / psychological) have now flipped to resistance, likely capping any short-term rebounds. A daily close below these levels would maintain the bears’ control.

Res: 98870; 100000; 101370; 102080
Sup: 95800; 94219; 93203; 92800