Macro:
- President Trump's recent tariff announcement has triggered sharp volatility in the crypto market, with Bitcoin falling below $84,000 amid fears of a global trade war and economic slowdown.
- The Crypto Fear and Greed Index remains in "Extreme Fear," signalling cautious investor sentiment.
- Despite the turbulence, institutional interest in Bitcoin remains strong, with firms like Strategy continuing to increase their holdings, showing long-term confidence in the asset.
Technical:
- BTCUSD is captured within a descending channel. The price rejected EMA21 after retesting it, indicating bearish momentum.
- If BTCUSD closes below the support at around 82000-82300, the price may retest the following support at 73000.
- On the contrary, closing above the resistance at 88500 may lead the price to approach the next resistance at 92000.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- President Trump's recent tariff announcement has triggered sharp volatility in the crypto market, with Bitcoin falling below $84,000 amid fears of a global trade war and economic slowdown.
- The Crypto Fear and Greed Index remains in "Extreme Fear," signalling cautious investor sentiment.
- Despite the turbulence, institutional interest in Bitcoin remains strong, with firms like Strategy continuing to increase their holdings, showing long-term confidence in the asset.
Technical:
- BTCUSD is captured within a descending channel. The price rejected EMA21 after retesting it, indicating bearish momentum.
- If BTCUSD closes below the support at around 82000-82300, the price may retest the following support at 73000.
- On the contrary, closing above the resistance at 88500 may lead the price to approach the next resistance at 92000.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
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I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.