• Trend: In the short term, the price may experience a downward correction to take profits, especially after failing to break through the recent resistance. However, the overall outlook remains positive, with a potential upward rebound towards higher levels reaching $122,205.

  • Supporting Factors:

    • Bitcoin and Ethereum exchange-traded funds continue to attract net investment flows.

    • Recent diplomatic moves between the United States and China have eased trade tensions, leading to an increase in "risk appetite" in financial markets.

    • Technical analysis indicates that Bitcoin is trading within an upward channel, suggesting momentum is continuing.

  • Deterrent factors:

    • The upcoming Federal Reserve meeting may lead to a state of market anticipation, which could affect prices.

    • Bitcoin may face some volatility in the short term if it fails to break through key resistance levels.

    • BTC
      BTC
      92,587.66
      +2.74%

      $BTC