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Bitcoin Struggles to Maintain Momentum as Market Uncertainty Grows

On Tuesday, Bitcoin’s (BTC) price failed to hold above the $100,000 mark. Although there are optimistic expectations regarding the trade agreement between the U.S., Mexico, and Canada, uncertainty in the markets persists. Additionally, tensions are escalating between the U.S. and China, with the Chinese government preparing to impose a 15% additional tariff on U.S. coal and liquefied natural gas (LNG).

Recent price movements indicate that Bitcoin is trading within a horizontal channel. The upper limit ranges between $108,000 and $109,000, while the lower limit fluctuates between $89,000 and $91,500. However, Bitcoin has primarily trended downward recently. The price movements are forming lower highs and deeper lows, which may lead BTC to retest the $96,000 support level.

Bitcoin Struggles to Maintain Momentum as Market Uncertainty Grows

On Tuesday, Bitcoin’s (BTC) price failed to hold above the $100,000 mark. Although there are optimistic expectations regarding the trade agreement between the U.S., Mexico, and Canada, uncertainty in the markets persists. Additionally, tensions are escalating between the U.S. and China, with the Chinese government preparing to impose a 15% additional tariff on U.S. coal and liquefied natural gas (LNG).

Recent price movements indicate that Bitcoin is trading within a horizontal channel. The upper limit ranges between $108,000 and $109,000, while the lower limit fluctuates between $89,000 and $91,500. However, Bitcoin has primarily trended downward recently. The price movements are forming lower highs and deeper lows, which may lead BTC to retest the $96,000 support level.

https://en.coin-turk.com/bitcoin-struggles-to-maintain-momentum-as-market-uncertainty-grows/