BTCUSD experiences a sharp decline but is expected to maintain its overall bullish structure as long as it remains above the 100K level

BTCUSD experienced a sharp decline on Monday, dropping 5K in a swift pullback from the session’s spike high around the 107K zone.

The negative reaction followed the US credit rating downgrade, pushing Bitcoin towards the lower end of its recent consolidation range (101K–107K), where strong bids have so far contained the downside.

The overall bullish outlook remains intact as long as the price holds above the key psychological support at 100K, keeping hopes alive for renewed attempts at a new all-time high and the nearby 110K psychological barrier.

Despite the dip below the initial 10DMA support at 103600, daily technical indicators maintain a bullish stance, supporting the view of an extended consolidation above 100K before another upward push.

However, a clear break below 100K would signal the start of a deeper correction of the 74389–107204 uptrend.

Res: 105832; 107204; 109582; 110000
Sup: 101388; 100000; 99460; 97681