Bitcoin falls to $98,000 and shows signs of short-term weakness
During the week, Bitcoin (BTC) showed a significant decline reaching a low of $98,115, with an accumulated correction of -2.03% daily and -9.08% monthly. Despite a slight technical rebound, indicators across different timeframes (15m, 1h, 4h, 1D) show a bearish trend, with the price below key moving averages (MA25, MA99, and MA200) and a daily RSI at oversold levels (21 points), reflecting a loss of bullish strength.
Among the factors pressuring the price are:
🔺 Geopolitical tensions: The conflict between Iran and Israel has intensified global risk aversion, prompting investors to seek refuge in assets like the dollar and gold, to the detriment of the crypto market.
💵 Expectation of rates in the U.S.: The Federal Reserve maintains its restrictive stance, reducing appetite for volatile assets like BTC in the absence of immediate interest rate cuts.
⚠️ High leveraged liquidation: The technical decline from $111,959 has been accompanied by forced liquidations in futures contracts, further weakening short-term technical support.
Currently, BTC remains in a critical zone. If it loses the $98,000 support with volume, it could seek levels around $95,000 or even $89,000. New purchases are not recommended until it recovers $103,000 with strength. For those already holding positions, it is advisable to consider partial exits or protection with a stop-loss below $97,500.
This publication does not constitute financial advice. Each person should make investment decisions based on their own analysis, experience, and financial goals.
