Bitcoin at risk of deeper drop as BTC slips below key support levels

A revisit to the $100,000 level seems likely now that BTC price slipped below two key support levels.

Key point:

Selling accelerated on Tuesday, raising the chance for a Bitcoin price drop to $104,000.

Bitcoin (BTC) pulled back to $105,250 on Tuesday after failing to cross above the $109,000 mark on Sunday and Monday. Bitfinex analysts said in a market report that Bitcoin could have formed a local top or may enter a period of consolidation. 

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