Market sentiment remains fragile, with US stocks falling into negative territory and US Treasury yields slightly higher. All eyes are on the upcoming vote on President Trump's tax reform plan. The Congressional Budget Office (CBO) estimates that the plan could cause the US national debt to swell by about $3.8 trillion. Uncertainty about the fiscal outlook continues to stimulate demand for gold as a defensive asset.
Technical analysis perspective
The question that investors are most interested in right now is when will BTC break through the 120k mark?
After the breakout of the channel structure near the 108k area, the 113k milestone is the most anticipated milestone before the price approaches 120k.
We still expect the price to continue to adjust slightly to 108k, and the longs and targets are still 113k and 120k.
