RBLK: The New iGaming Token That’s Stealing the Show from Bitcoin and TRUMP Meme Coin

Bitcoin whale selloff activity is being felt in the crypto market as BTC struggles to hold its position above $100k. The TRUMP meme coin is also stuck

Bitcoin price dropped below the crucial $100,000 support zone. BTC is now preparing for a fresh attempt at a recovery wave. Bitcoin price faced strong selling pressure at higher levels.

Bitcoin price declined sharply below the $100,000 support zone. BTC is now preparing for a fresh attempt at a recovery wave. However, it could face difficulties in resuming its rally.

Bitcoin price is displaying mixed signals. On the positive side, BTC recovered well from the recent lows and formed a strong base above $80,000. Moreover, it managed to rally and breached the key resistance at $95,000.

From there, the price extended its gains rapidly and even cleared the $105,000 resistance. The next major resistance is at $110,000, above which the price could begin a strong rally toward $120,000.

Bitcoin price dropped sharply from the highs. BTC failed to sustain above $100,000 and declined rapidly. It broke the $95,000 support and even breached the 100-hour simple moving average (SMA) support.

The price fell sharply below the $90,000 level and the 50-hour SMA support. It seems like the price found support near the $87,000 level or the 23.6% Fib retracement level of the recent wave from the $78,234 swing low to the $105,100 high.

Moreover, the relative strength index (RSI on the hourly chart is now rising and approaching the oversold zone. This indicates that the selling pressure is gradually easing.

Bitcoin price encountered a strong selling zone at higher levels. This zone is highlighted by the 100-day SMA and the 0.5 Fib retracement level of the recent decline from the $124,564 swing high to the $78,234 swing low.

Failure to clear this zone led to a sharp decline, and the price dropped below the 100-hour SMA and the 50-hour SMA supports. Moreover, it fell sharply below the $90,000 level and the 200-hour SMA support.

The price even breached the 78.6% Fib retracement level of the recent wave from the $78,234 swing low to the $105,100 high. It seems like the price found support near the $87,000 level or the 23.6% Fib retracement level of the recent wave from the $78,234 swing low to the $105,100 high.

However, the selling pressure is still high, and the price could extend its decline if it fails to clear the 100-hour SMA and the 50-hour SMA resistances. In that case, the next support is at $85,000, below which the price could slide toward the $80,000 zone.

The RSI on the hourly chart is now rising and approaching the oversold zone. This indicates that the selling pressure is gradually easing. However, the MACD is still in the bearish zone, and the Bollinger bands are widening, indicating high price volatility.

Overall, Bitcoin price dropped sharply from the highs, but it seems to be finding support at lower levels. BTC is preparing for a fresh attempt at a recovery wave, but it could face difficulties in resuming its rally.