Big News Impacting the Market: Recently, former President Donald Trump announced a significant tariff policy, marking the largest US tax hike on imports since 1968. This means that goods coming from foreign countries will be taxed when entering the US. Initially, the US had fewer tariffs on imports, but under Trump's leadership, this was reversed. As a result, the stock market saw a sharp decline, with major stocks like Meta and Google dropping by 7-8%.
This has had a domino effect, causing the US financial markets to fall, which in turn is impacting the entire global financial market, including the crypto market. Almost 80% of the crypto market experienced a downturn in response to the broader financial market’s weakness.
Bitcoin Analysis: Right now, Bitcoin is facing some volatility. For those looking to take some risk, now could be an opportunity to enter with a 30% investment—but remember, this is not financial advice. Always consult your financial advisor before making any decisions.
For traders interested in Bitcoin, there’s a strong resistance level approaching. The inverse head and shoulder pattern forming on the chart suggests that if Bitcoin breaks through this resistance and retests it, we could see a rise towards $85,300.
Trading Strategy and Entry Points:
For those entering a fresh trade, consider entering between $112 - $110.
I am currently averaging out my trade, and my target is around $118.
Keep an eye on potential retracements and breakouts, as Bitcoin’s price action will likely guide your trades.
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Closing Thoughts: With the current market turbulence due to tariff announcements and global financial reactions, it’s important to stay cautious but also take advantage of market opportunities. As always, trade wisely, use risk management strategies, and make informed decisions. If you’re interested in more trading insights or want to take advantage of the ongoing deposit offers, make sure to join the community through the links provided.
