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Bitcoin's upward momentum appears to be losing steam. The recent breakout attempt didn't materialize—a textbook pattern when markets are stuck in bear territory.
The 200-day moving average (tracked via BPRO trend indicator) is doing its job as a solid resistance level. Without a strong bullish surge to push through, we're unlikely to see $100k revisited anytime soon. As things stand, this bounce looks more like dead cat territory, with further downside looming.
The technicals are pretty clear on this one.