Bitcoin (BTC) struggles to regain bullish momentum, hovering around $107,800 on Monday after a 5.49% drop last week. Ethereum (ETH) slips below the key $4,000 level, hinting at further downside risks, while Ripple (XRP) also trades under pressure as momentum continues to weaken.
Bitcoin could correct toward $102,000 if it closes below key support
Bitcoin price faced rejection from the 50-day Exponential Moving Average (EMA) at $113,950 on Tuesday and declined 7.36% by Friday. However, BTC found support around the 61.8% Fibonacci retracement at $106,453 on Saturday and recovered by 2.22% the next day. At the time of writing on Monday, BTC hovers at around $108,700.
If BTC continues its price correction and closes below the $106,453 support, it could extend the decline toward the October 10 low of $102,000.
The Relative Strength Index (RSI) on the daily chart reads 40, below the neutral level of 50, indicating bearish momentum gaining…
