Bitcoin Analysis: Temporary Collapse or End of the Rally?
Bitcoin experienced a sharp decline from $126,000 to $107,300 amid a massive sell-off that impacted the entire market. This correction is influenced by major economic factors, most notably:
· Trade tensions between China and the United States
· Gold rising to $4,350 as a safe haven
· Strengthening of the US dollar
Technical Outlook:
The $105,000-$100,000 level represents critical support. Lateral trading is expected in the near term, with a gradual recovery likely as confidence returns.
Trader Advice:
Wait for the price to stabilize above $110,000 while using reduced leverage. Risk management remains the top priority in these volatile conditions.
Bitcoin has historically proven resilient, and opportunities remain for patient traders.