$BTC Key Observations for these few days volatility
1. Macro Catalyst Impact:
○ Trump’s announcement caused a massive pump to 95,000 (2-Mar 23:00), followed by a violent correction to 85,606 (3-Mar 23:00 GMT+7).
○ Classic “buy the rumor, sell the news” behavior: Initial euphoria → profit-taking → panic selling.
2. Technical Breakdown:
○ Price rejected at 95,000 (overbought RSI: 88.34) and collapsed -10% to 85,606.
○ RSI(7) on 4hr dropped to 33.86 (neutral-bearish), with volume spiking (16,115).
○ Critical support at 85,500–86,000 (prior swing low) failed, opening the door to 80,000.
3. Market Sentiment:
○ Extreme volatility (+30% rally → -10% crash) reflects speculative froth and weak hands exiting.
○ Traders now question the sustainability of Trump’s policy (hypothetical) and regulatory risks.
Critical Levels
○ Immediate Resistance: 85,500–86,000 (failed support → new resistance).
○ Support: 82,000 (minor) → 80,000 (target).
The hypothetical Trump-driven pump-and-dump has left Bitcoin vulnerable. While a relief bounce is possible (oversold RSI), the path to 80,000 is now probable within 3 days unless institutional buyers step in. Monitor:
○ Regulatory responses to Trump’s statement.
○ Volume trends: Sustained selling (>20k red) confirms bearish momentum.