According to short time frame Bitcoin trend has reversed and uptrend is broken. There is a huge chance for Bitcoin to test the next support level and that is $79-80K.
The market is less volatile because of the weekends and I believe as soon Monday starts the price will react fast and maybe Bitcoin brings another bloodshed in the market.
The good thing is that long term still holds with 50w EMA support and the uptrend is continued which clears that Bitcoin is currently at correction. The short term corrections are always good for healthy market and also a great chance for accumulating your favorite coins.
On the coming Monday there are many things to happen, one of the major event is that Trump will begin collecting tariffs. There will be huge volatility and uncertainty in the market.
So what must we do in such a situation. We must be cautious and be alert for any kind of market uncertainty. Avoid futures trades during this period and keep on tightly hold your coins.
We all know that crypto market is highly influenced by the news regarding government regulations and specially the news that came from US. Any of the news could lead to the sharp price movements.
Traders must be attentive the next week where the market will be highly volatile and there is more chance of pump and dump. Therefore, it is advised for the trades to make informed decisions in this regard.
What do you people think about the price of Bitcoin, do you think BTC will hold the 80K support level? Will be glad to see your answers in the comment section.
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