Bitcoin (BTC) $101,713.0 Signs of decline in price are increasing. black formed on wednesday Marubozu candle formation It shows that the market is evolving in a negative direction. So far, the pullback from the resistance level between $107,000 and $109,000 has led to the formation of a short-term reversal formation.
Short-Term Outlook Points to a Decline
Bitcoin is currently on the four-hour time frame shoulder head shoulder formation It creates. Moreover Relative Strength IndexThere is a bearish divergence in (RSI). This indicates that the downward trend may continue in the short term. If this scenario occurs, the support zone between $101,000 and $99,500 will be critical for the price of Bitcoin.
In the daily time frame, it has been taking shape since December 2024. double top formation attracts attention. The formation may signal an important macro turn in the general course of the market. If this model becomes active, Bitcoin’s price may drop to $91,000, which is the lower limit of the horizontal channel.
Mixed Signals in the Market
The US President who recently viewed cryptocurrencies positively Donald Trump‘s oath ceremony created excitement in the cryptocurrency market. However, this caused a short-term loss of momentum as the “sell the news” narrative came into play. Nevertheless MicroStrategy And BlackRock Large corporate players such as continue to accumulate Bitcoin. On the other hand, it seems that short-term investors are focusing on altcoins rather than Bitcoin and their interest in the altcoin season has increased.
Among other pressure forces on the market Bank of Japan(BoJ) has a policy interest rate to be announced tomorrow. The interest rate decision may give important clues about the interest rate policy of the US Federal Reserve (Fed) next week. Recent higher-than-expected inflation data and the unpredictability of the Trump administration cryptocurrency marketIt increases the uncertainty in
Bitcoin investors currently need to focus their attention on both macroeconomic developments and technical indicators. While volatility continues in price movements, it is very important for market participants to act cautiously.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
