{"id":29690,"date":"2025-06-01T22:01:41","date_gmt":"2025-06-01T22:01:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29690"},"modified":"2025-06-01T22:01:41","modified_gmt":"2025-06-01T22:01:41","slug":"bitcoin-eyes-97000-99000-as-key-support-zone-if-price-decline-persists-analyst","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29690","title":{"rendered":"Bitcoin Eyes $97,000-$99,000 As Key Support Zone If Price Decline Persists \u2013 Analyst"},"content":{"rendered":"
\n

Bitcoin prices fell by over 3% in the past week as the broader crypto market suffers from a general price correction influenced by macroeconomic pressure. Notably, the premier cryptocurrency now trades above $104,000 representing an estimated 7% decline from its new all-time high at $111,970. Amidst what may yet be a mere correction, market analyst Daan Crypto has highlighted a support zone with strong potentials to halt any further price decline.\u00a0<\/a>\n<\/p>\n

$97,000-$99,000 Emerges As Key BTC Price Level<\/strong><\/h2>\n

In a brief X post<\/a> on May 31, Daan Crypto has shared a cautious outlook on Bitcoin amidst an ongoing price correction. The analyst notes that if the retracement persists into June, Bitcoin is likely to fall to around $97,000 -$99,000 at which it may find a credible market resistance. <\/p>\n

Daan Crypto\u2019s selection of this price range as the next major support level for Bitcoin stems from a confluence of technical indicators. As seen in the chart below, the $97,000-$99,000 price region represents the mid range of Bitcoin trading channel between $90,845 and $108,386, alongside hosting the 200-day moving average and the 0.382 Fibonacci retracement level.\n<\/p>\n

\"Bitcoin\"<\/p>\n

The mid-range in a trading channel usually serves as a key level of support or resistance, depending on where the price is relative to it. Amidst Bitcoin\u2019s price correction, the current mid-range at $97,000-$99,000 represents the next major price floor for the premier cryptocurrency \u2014 a decisive price fall below which would signal a bearish price trend. <\/p>\n

Meanwhile, the 0.382 Fibonacci retracement level represents a healthy market correction zone meaning prices generally pull back to this area before resuming the initial trend. In addition, the 200 day MA<\/a> is a long-term indicator averaging the market closing price over the past 200 days. It also functions as a support level during bullish trends acting as a common retest level before price continues an uptrend. <\/p>\n

Generally, all three indicators suggest the $97,000-$99,000 would act as a sound technical support zone should Bitcoin price dip any further. However, the loss of the support zone would threaten Bitcoin\u2019s bullish potential with the next support level set around $94,000.\n<\/p>\n

Bitcoin Price Overview<\/strong><\/h2>\n

At press time, Bitcoin trades at $104,650 reflecting a slight price gain of 0.14% in the past day. The premier cryptocurrency also reports a monthly gain of 7.21% indicating that the majority of new market entrants remain in profits. However, the weekly decline of 2.86% suggests there is need for a resurgence in market demand to halt a creeping bearish sentiment investment.<\/p>\n

\"Bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin prices fell by over 3% in the past week as the broader crypto market suffers from a general price correction influenced by macroeconomic pressure. Notably, the premier cryptocurrency now trades above $104,000 representing an estimated 7% decline from its new all-time high at $111,970. Amidst what may yet be a mere correction, market analyst […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-29690","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29690"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29690\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}