Let’s break it down:

  • Short-Term Correction for Bitcoin:
    #NewsTrade
    $BTC Bitcoin recently jumped 10% over the past week. Now, it’s showing a bearish RSI divergence on the 4-hour chart, which usually signals a short-term correction is coming.

    #TradeStories

  • $BTC Bitcoin Outperformed During Trade Uncertainty:

    Over the past month, $BTC Bitcoin and gold outperformed stocks when there was fear over U.S.-China tariffs. Investors turned to “safe havens” like #NewsTrade Bitcoin during that period of uncertainty.

    #SaylorBTCPurchase

  • U.S.-China Deal Boosts Stocks, Bitcoin Pulls Back:

    Today, news of a U.S.-China trade agreement caused the stock market to surge 4% after a flat week. Bitcoin, however, dipped because it had already priced in (or “front-ran”) the optimism around the deal.

  • Bottom Line:

This is typical intraday volatility. Markets adjust to news differently, and in the long run, a strong U.S. stock market could actually support #SaylorBTCPurchase Bitcoin’s growth.

Support levels to watch: $100,000 and $93,000 – a bounce from these levels is likely soon.