Recent weeks have seen Bitcoin experience a notable downturn, shedding key support points after reaching its recent peak earlier this month. Technical indicators suggest selling pressure is driving the market, and analysts anticipate further declines, potentially pushing Bitcoin closer to the crucial $100,000 mark. Analysis of daily charts reveals Bitcoin breaking free from a long-standing descending channel and dipping below both $110,000 support and the 100-day moving average. This development has sparked concern among investors about a potential deeper dip. Existing analysis suggests the next notable support level may be around the fair value gap of $104,000, aligning closely with the 200-day moving average near $100,000. The Relative Strength Index (RSI), remaining below 50, indicates continued selling pressure and a bearish outlook on momentum.