Bitcoin $97,645.2The price of (BTC) failed to hold over 100 thousand dollars on Tuesday. Although there are positive expectations of the trade agreement between the US, Mexico and Canada, the uncertainty in the markets continues. On the other hand, the tension between the US and China is increasing. In the coming days, the Beijing administration is preparing to impose an additional customs duties for US coal and liquefied natural gas (LNG). This is expected to lead to new fluctuations in the global economy. The crypto money market is similar to traditional financial markets. While the large stock market indices tend to decline, Bitcoin and other crypto currencyThe s is also under downward pressure. For this reason, many analysts argue that it may make sense to move to watch in the short term.
Bitcoin Price Analysis, Comment
The last three -month price movements show that Bitcoin is traded in a horizontal channel. The upper limit varies between 108 – 109 thousand dollars and the lower limit varies between 89 – 91 thousand 500 dollars. However, the biggest crypto currency is moving mainly in a trend of decrease in recent days. Falling hills and price movement that creates deeper bottom levels BTCIt may cause it to re -test the support of $ 96 thousand.
If the sales pressure continues, Bitcoin seems to be able to decline to $ 91,000 in the medium term. However, if the trend line falling in the four -hour graph is broken, this scenario may be invalid. Technical indicators show how Bitcoin will move against this important level.
Uncertainty in the market
The trade war between the US and China has reduced the risk appetite in the markets. However, Bitcoin in the USA strategic reserve Studies continue to evaluate as an asset. Although the federal administration is preparing to step into this issue, some states have already taken action.
On the other hand, the investment giant BlackrockBitcoin Stock Exchange Investment Fund (IBIT) continues to accumulate Bitcoin. Finally, the fund has recorded a net entry of $ 249 million and has reached a total of $ 57.7 billion Bitcoin. Corporate support on this side can strengthen long -term positive expectations on the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
