#XRPETF
đ¨ Urgent Bitcoin Market Update đ¨
Bitcoin has closed negatively today at $94,000, signaling a potential trend reversal. Despite MicroStrategyâs recent announcement of planned large-scale Bitcoin purchases, volatility is expected in the short term, with possible profit-taking after its rally from the $83,900 support zone.
Key Levels to Watch:
- Downside: A correction toward $88,000â$87,000**
could occur, followed by sideways movement before testing $98,000(major resistance).
- Resistance Struggle: Bitcoin briefly surpassed $95,500 but failed to hold above $95,000, reinforcing this as a critical resistance area.
Next Monthâs Risk: A sharp correction to $80,000 is possible if the market retests lower levels. A breakdown here could trigger further declines, while holding could reignite upward momentum.
Macro Factors:
- The U.S. dollarâs decline is amplifying market uncertainty.
- The Federal Reserveâs next moves are pivotal: Will Powell prioritize market stability or maintain higher rates to combat inflation?
- Deadline Alert: The U.S. tariff suspension deadline looms in under 90 days, adding pressure.
Outlook: Expect heightened volatility in the coming weeks, with rapid price swings. Traders should exercise caution, monitor Fed signals, and prepare for potential downside risks.
Stay alert and adapt strategies swiftly! đ