#NEWTBinanceHODLer Analysis of Bitcoin today considering the analysts' forecasts

🌍 Impact of geopolitical tensions

Cryptocurrency prices dropped following the US military strikes on Iran, which briefly pushed Bitcoin below $99,000 before it retraced to around $101,200

The reason behind this drop is the increasing 'risk aversion', driven by threats to close the Strait of Hormuz and escalating tensions, prompting investors to liquidate speculative positions worth over

Technical analysis

Bitcoin is moving within a short-term descending channel after a strong rally we witnessed in April and May, with technical support at the $100,000 level and resistance at ~$107,000. Any breakout of either could open the door to new areas (such as $92K or $112K)

Indicators like RSI and MACD show signs of 'weak momentum', with the price fluctuating between $103K and $106K recently

💡 Potential scenarios

Level Potential Situation $100,000–$101,000 Critical support. Breaking it could push the price towards $94,000–$97,000