BTCUSD
Bitcoin is trading below the $90,730 resistance level, and prices are likely to decline and retest the $88,600 support level. This scenario would be invalidated if prices break above the aforementioned resistance.
|
Support |
88600 | 86835 |
| Resistance | 90730 |
93100 |
Bitcoin posted a notable decline during today’s trading session, reflecting mounting selling pressure after failing to maintain its recent elevated levels, amid a cautious environment dominating high risk asset markets. The pullback was largely driven by natural profit-taking following a previous upward wave.
From a macro perspective, Bitcoin’s weakness coincided with rising global geopolitical concerns and a broader retreat in risk appetite, alongside movements in the U.S. dollar and government bond yields, which weighed on capital flows into digital assets. Despite the decline, the medium term outlook remains neutral to positive.
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