Bitcoin bulls are facing a challenging market as the potential for a retracement towards the $90,000 level looms large. Despite a brief uptick that pushed Bitcoin above $100,000 following a tariff pause by U.S. President Donald Trump, recent geopolitical tensions have now pushed the price downward.
The Current Bitcoin Scenario
After briefly surpassing $100,000, Bitcoin is now struggling to maintain its position amidst escalating US-China trade tensions. This has caused concern among traders, with many closely monitoring critical support and resistance levels.
📉 Why Bitcoin Faces a Potential Fall
The recent resurgence in US-China trade tensions has put pressure on Bitcoin’s price, leading to a possible retracement towards $90,000. Geopolitical uncertainties often trigger market volatility, causing investors to seek lower-risk assets.
⚡ Critical Levels to Watch
For Bitcoin to avoid a drop to $90,000, it must defend key support levels around $95,000. Failure to hold this level could pave the way for further downside towards $92,000 and eventually $90,000. On the upside, a break above $98,000 is crucial for a bullish reversal.
🤔 Should You Buy Bitcoin Now?
Considering the current market conditions and geopolitical risks, it is advisable to proceed with caution. Traders should wait for a clear breakout above $98,000 before considering long positions. Short-term traders may find opportunities within the current range but must closely monitor support levels.
To stay ahead of potential price movements, it is essential to keep a close eye on market developments and geopolitical news. Whether Bitcoin will hold above $90,000 or witness a further decline remains uncertain.
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