Bitcoin ( $BTC) just managed to hit $109,000 before falling back down into its latest corrective phase. With a lower high now in place, can Bitcoin bulls avoid making a lower low
Conflict rages on but stock market
doggedly climbs higher
The current financial and geopolitical situation for Bitcoin is just as nervy and gut-wrenching as it has been over these last several days. The Israel/Iran conflict has entered its fifth day without seemingly any end in sight.
That said, the U.S. stock market has doggedly continued to climb, and with the S&P 500 currently holding above 6,000 points, the all-time high of 6,147 isn’t more than a stone’s throw away. It would appear that increasing global liquidity holds more sway for Wall Street than a Middle Eastern conflict.
The 4-hour chart for $BTC
C shows that the price action is still generally sideways. The $109,000 resistance is becoming a major level, and therefore on the next upward impulse, if the bulls can pierce this and confirm above, this can leave the path open to revisit the all-time high.
However, there is a lot for the bulls to do right now in order to avoid a dip below the important horizontal supports of $105,750 and $104,400. $102,000 is probably the last of the major supports before a potential tumble under $100,000.
#FOMCMeeting #IsraelIranConflict #Write2Earn 
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