What is happening with Bitcoin?

The price of $BTC is at $85,962.70, with a drop of 2.66%. It has already reached $88,990.00 and dropped to $85,108.00 in the last 24 hours, meaning it's fluctuating a lot. The 4-hour chart shows that BTC is testing an important support at $85,962.80, after a correction from a peak of $106,925.50 back in February. The volume is high, with 172,812 $BTC traded, indicating that the market is quite active.

And now, Up or Down?

Looking at the near future, up to about 5 days, the scenario is as follows:

  • If it goes up: If BTC breaks through $87,484.50 strongly, it could reach $93,166.80 and even $100,000 quickly. Trump's 'Strategic Crypto Reserve', which includes Bitcoin, is exciting the market on X, with analysts talking about institutional adoption.

  • If it goes down: If it loses support at $85,962.80, it could drop to $80,000. People are keeping an eye on the Fed and the current volatility.

  • If it stays sideways: The most likely scenario is the price staying between $85,000 and $88,000, waiting for more news about regulation.

Tips for Swing Trading

If you like swing trading, which involves movements over a few days, take note:

  • Buy (Long): Enter at $85,962.80 or a bit below, with a stop at $84,500, targeting $87,484.50 and then $93,166.80. The volume shows buying at low levels.

  • Sell (Short): Try to sell at $87,484.50, with a stop at $88,990, targeting $85,962.80 or $80,000 if selling pressure continues.

  • Cautions: Use a risk of 1-2% per trade and hold the position for about 3 to 7 days, monitoring the Pivots.

In summary, Bitcoin is in a hot moment, with support at $85,962.80 and resistance at $87,484.50. Trump's crypto reserve could be the push for a rise, but caution is needed due to volatility. And you, what do you think? Are you thinking of buying, selling, or waiting? Share here in the comments and invite your friends to chat!

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