Analyst: Bitcoin may pull back, testing the support level of 100,000 USD

ChainCatcher news, Coindesk analyst Omkar Godbole stated that the technical indicator 30-day Rate of Change (ROC), used to measure the price fluctuations of Bitcoin over the past month, has shown a "bearish divergence" signal, indicating that momentum is weakening. Additionally, the MACD histogram on the daily chart (a widely used indicator for measuring trend strength and changes) has turned negative, suggesting a bearish shift in momentum.

These signals imply that Bitcoin may break below the current ascending channel or retest the key support level of $100,000. Nevertheless, the overall trend remains optimistic, consistent with the recent technical formation of a "golden cross" between the 50-day and 200-day Simple Moving Averages (SMA).