Bitcoin Tests $100,000 Support as Technical Indicators Point to $96,593 Correction Risk

Bitcoin is struggling to hold above $100,000 as bearish momentum builds, with order book data showing defensive bid walls at $100,384 and $100,663. Technical indicators confirm a short-term downtrend, with both the 9-day and 20-day exponential moving averages turning downward. Analysts warn that a break below the current level could trigger a cascade of stop-loss orders, potentially driving prices toward support zones at $96,593 and $95,778.