$BTC Bitcoin is currently trading around $82,000, showing significant volatility following recent market events. Yesterday's announcement of a 90-day tariff pause by the US, excluding China, triggered a notable recovery, with BTC climbing over 8%. However, uncertainty remains due to persistent weakness in global stock markets and ongoing trade tensions.
Technical analysis suggests that BTC faces strong resistance around the $82,200 level (20-day EMA). Failure to break above this could lead to further downside, with key support levels identified at $77,000-$78,000 and potentially $74,000. Conversely, a successful break could pave the way for a retest of higher levels, possibly towards $90,000.
On-chain metrics indicate a slight bearish momentum in the short term, but some long-term indicators suggest potential exhaustion of the selling pressure. Investor sentiment remains cautious, as reflected in recent outflows from US-listed spot Bitcoin ETFs. The market is closely watching for further developments in the global economic landscape and any potential catalysts that could influence Bitcoin's price trajectory. Keep an eye on trading volumes and key support/resistance levels for potential trading opportunities.
