$BTC
Bitcoin (BTC) has surged to $93,500, bringing the $100,000 mark back into focus. This rally is fueled by optimism in financial markets following President Trump's indication that tariffs on China may be reduced and his assurance that Fed Chair Jerome Powell will not be fired, helping restore confidence in central bank independence. BTC has gained approximately 25% from its April low, benefiting from investor interest amid stock volatility and a weakening U.S. dollar.
Technically, BTC recently broke out of a four-month falling wedge pattern and closed above the 200-day moving average, with momentum confirmed by a Relative Strength Index (RSI) above 50. Key resistance lies at the $100,000 level, where selling pressure could emerge, but a decisive close above this could target $107,000, based on the pattern's measured move. On the downside, support is seen around $85,000, coinciding with recent breakout levels, while a deeper pullback could bring prices to $76,000—an area of potential investor accumulation aligned with longer-term trendlines.
Despite these bullish signals, trading volumes have been weak, reflecting cautious sentiment among investors. As always, traders should exercise caution and consider risk management strategies when navigating the volatile crypto market.
