$BTC
Bitcoin Price Mirrors Previous Pattern – Is a Deeper Correction Ahead?
Bitcoin has been under intense selling pressure since the start of the week, with prices slipping below key support levels during early trading sessions. Despite this, overall market sentiment remains bullish, suggesting the correction could be temporary before a potential rebound.
The recent decline isn’t tied to a court ruling but rather stems from former President Donald Trump’s announcement of new tariffs on Canada and Mexico. This geopolitical tension triggered market-wide volatility, pushing BTC below $91,000 and causing nearly $1 billion in liquidations. However, optimism returned following a U.S. federal court’s decision to block Trump’s $10 billion tariff plan.
What’s Next: Surge to $120K or Slide to $100K?
Bitcoin recently experienced bullish momentum, possibly due to a Golden Cross formation — although there’s growing concern it could reverse into a Death Cross. While perpetual contract whales defend the $100K level, spot traders are targeting $120K for profit-taking.
The price action now reflects a divergence similar to early April, but in reverse. Indicators like the DMI show a bearish crossover, and the RSI continues to decline, hinting at growing bearish momentum. If BTC fails to hold above the 0.786 Fibonacci level at $102,153, a dip below $100K is possible. However, a successful rebound could see prices retesting resistance between $105,937 and $107,615.
Ultimately, the monthly close will be crucial. A close above local support could stabilize the trend, while a failure could open the door to a deeper correction.
#Binance #Bitcoin❗ #BitEagleNews #ElonMuskDOGEDeparture #Bitcoin2025
$ETH $XRP
Bitcoin Price Mirrors Previous Pattern – Is a Deeper Correction Ahead?
Bitcoin has been under intense selling pressure since the start of the week, with prices slipping below key support levels during early trading sessions. Despite this, overall market sentiment remains bullish, suggesting the correction could be temporary before a potential rebound.
The recent decline isn’t tied to a court ruling but rather stems from former President Donald Trump’s announcement of new tariffs on Canada and Mexico. This geopolitical tension triggered market-wide volatility, pushing BTC below $91,000 and causing nearly $1 billion in liquidations. However, optimism returned following a U.S. federal court’s decision to block Trump’s $10 billion tariff plan.
What’s Next: Surge to $120K or Slide to $100K?
Bitcoin recently experienced bullish momentum, possibly due to a Golden Cross formation — although there’s growing concern it could reverse into a Death Cross. While perpetual contract whales defend the $100K level, spot traders are targeting $120K for profit-taking.
The price action now reflects a divergence similar to early April, but in reverse. Indicators like the DMI show a bearish crossover, and the RSI continues to decline, hinting at growing bearish momentum. If BTC fails to hold above the 0.786 Fibonacci level at $102,153, a dip below $100K is possible. However, a successful rebound could see prices retesting resistance between $105,937 and $107,615.
Ultimately, the monthly close will be crucial. A close above local support could stabilize the trend, while a failure could open the door to a deeper correction.
#Binance #Bitcoin❗ #BitEagleNews #ElonMuskDOGEDeparture #Bitcoin2025
$ETH $XRP
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