BTC could fall to $103K if it fails to hold 100-day EMA

Bitcoin could fall to $103,000 if it fails to hold the 100-day Exponential Moving Average (EMA) on its daily chart, Cointelegraph reported. Prominent trader Cryptorphic noted that historically, a drop below the 100-day EMA has led to deeper short-term corrections, adding a personal hope that Bitcoin would recover above this level to maintain its upward trend. Cointelegraph also stated that some traders are bracing for a scenario where the current correction pushes BTC to much lower prices, including a retest and subsequent loss of the $100,000 mark. If that support level breaks, on-chain indicators suggest the $92,000 to $93,000 range could serve as the next line of defense.