Geopolitical Tensions: The U.S.-China trade war has created uncertainty, leading to negative investor sentiment.
Legal Issues: The Coinbase lawsuit is hurting market confidence.
Corporate Moves: MicroStrategy (now Strategy) pausing its BTC purchases is a bearish signal.
Short-Term Outlook:
Support Level: Bitcoin shows support around $90,000, but if it breaks, it could drop to $80,000.
Resistance Level: If the market bounces, $98,000 - $100,000 will act as strong resistance.
Key Trigger:
If global news or U.S. economic data turns positive, a short-term rally is possible. Otherwise, downward pressure will dominate.
Day Trading Tip:
Scalp on volatility: Be ready for quick moves and use tight stop-losses.
Monitor RSI & EMA on the 15-minute chart closely.
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