Bitcoin has surged to a new all-time high, briefly exceeding the $108K threshold in an impulsive rally.
However, another Federal Reserve rate cut and some cautious comments unexpectedly resulted in a rejection, increasing the likelihood of an extended retracement.
Technical Analysis
By Shayan
The Daily Chart
Bitcoin recently achieved a new all-time high of just over $108K following a powerful rally, breaking through the significant psychological resistance at $100K with remarkable momentum. However, the bullish momentum has since faded, and the price is exhibiting sideways movement. A recent Federal Reserve rate cut unexpectedly triggered a market shakeout, resulting in a notable pullback from the $108K level.
This rejection, coupled with a bearish divergence on the RSI indicator, suggests the likelihood of a corrective retracement phase. The ascending channel’s middle boundary, around the $100K mark, is expected to serve as a critical support zone. Buyers may capitalize on this leve
We współpracy z: https://cryptopotato.com/bitcoin-price-analysis-btc-risks-facing-extended-retracement-if-it-loses-this-level/
