BITCOIN FUNDAMENTAL UPDATE 🚀
Bitcoin is currently trading around $82,490, showing weakness near key support levels. The market is awaiting high-impact economic data, which could bring volatility to BTC’s price action.
🔹 Current Market Situation
- $BTC is struggling below its moving averages, signaling bearish pressure.
- The RSI is near oversold levels, indicating a possible bounce, but no confirmation yet.
- BTC needs to reclaim key resistance to regain momentum.
🔹 Important Data to Watch Today (April 4)
📌 Non-Farm Payrolls (NFP)
➡️ A higher number may strengthen the USD and put pressure on BTC.
➡️ A lower number could indicate economic weakness, benefiting BTC.
📌 Unemployment Rate
➡️ If unemployment increases, risk assets like BTC may see a short-term boost.
📌 Fed Chair Powell’s Speech
➡️ Any hawkish stance could drive BTC lower, while a dovish tone may support an uptrend.
🔹 Key Levels to Watch
- Support: $81,500 – A break below could lead to further downside.
- Resistance: $85,000 – BTC must reclaim this level for bullish confirmation.
⚠️ Stay cautious—fundamental news can bring sharp movements! Keep an eye on the charts and react accordingly. 📊🔥
