Bitcoin 
$121,644.47 Its price dropped as low as $119,651 but it is stalling above $120,900 for now. It is not good for cryptocurrencies to see such deep bottoms as we move towards the weekend. ETF inflows were weak yesterday, which is likely fueling the weakness. On the other hand, Trump’s threat to cut imports from China was also effective. So what do analysts say?
Bitcoin Comment
Jelle is not very happy with BTC, which is still fluctuating below the resistance. Even though it waits for the falling wedge to break, it is not very encouraging for BTC to start testing below 120 thousand dollars. Pioneers like BNB, SOL altcoins It has lost important thresholds for now, and continued closures below it may lead to larger losses.
“Bitcoin It is still floating below this resistance and pulling back a bit as discussed. It is currently above the 4-hour 50EMA. Wait for the falling wedge formation, a breakout will occur soon. In any case, being patient is my strategy.”
Sherpa says that those who expect a rise should wait for closings on the resistance area he marked to avoid disappointment. We have seen before that major losses were experienced when it was realized that the key area was tested but could not be overcome permanently.
“BTC It is really important to follow this development. Price action so far has been quite disappointing. “The longer this situation goes on, the more pessimistic I become.”
If the same happens again, this may bring deeper bottoms in altcoins.
Cryptocurrencies Review
At the time of writing, Trump mentions that they are increasing the pressure for the Ukraine deal. We will likely see more threats or sanctions against Russia. However, there is a return to a good tone compared to Trump’s previous statements such as “I will give them weapons and they will destroy Russia.”
US data is not coming due to the shutdown and the shutdown may continue until the end of the month. So the Fed may need to make a decision in light of current data. This means that the possibility of an interest rate cut at the end of the month increases. The biggest threat to cryptocurrencies of BTC There is a risk that it will lose momentum after ATH and fall to 117 thousand dollars and below, triggering a new sales wave.
If the rise does not continue during ATH periods, a decline begins and the weakening of momentum is not good for cryptocurrencies in general.
