Bitcoin is currently consolidating after facing downside pressure, suggesting a short-term bearish bias. The price recently shifted lower, indicating weakening bullish momentum.
From a macro perspective, U.S. stock markets surged on Wednesday as investors anticipated updates from the U.S. House and the ongoing government shutdown discussions. In contrast, Bitcoin fell from an intraday high near 105,000 to a weekly low around 101,000, marking a 3.4% decline.
If bulls manage to regain control and push the price above the current consolidation zone, a breakout could occur a sustained move above the new trendline may lead BTC toward 107,000–110,000 in the near term.
If the price continues to show weakness and fails to hold current support levels, a breakdown could occur In that case, BTC may revisit the 99,000– / 96,000 range as the next short-term downside targets.
You may find more details in the chart,
Trade wisely best of Luck.
Ps; Support with like and comments for better analysis Thanks for Supporting.
From a macro perspective, U.S. stock markets surged on Wednesday as investors anticipated updates from the U.S. House and the ongoing government shutdown discussions. In contrast, Bitcoin fell from an intraday high near 105,000 to a weekly low around 101,000, marking a 3.4% decline.
If bulls manage to regain control and push the price above the current consolidation zone, a breakout could occur a sustained move above the new trendline may lead BTC toward 107,000–110,000 in the near term.
If the price continues to show weakness and fails to hold current support levels, a breakdown could occur In that case, BTC may revisit the 99,000– / 96,000 range as the next short-term downside targets.
You may find more details in the chart,
Trade wisely best of Luck.
Ps; Support with like and comments for better analysis Thanks for Supporting.
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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.