Watch These Bitcoin Levels as Price Drops on Concerns About Impact of Tariffs | Global News Avenue

Bitcoin (Bitcoin (BTCUSD) Sunday retreated less than $ 95,000, worried about the potential impact of US tariffs from Canada, Mexico and Chinese products from Canada, Mexico and Chinese products.

President Donald Trump announced on Saturday that the United States will be 25 %, and the price of Bitcoin has fallen sharply tariff Starting from Tuesday, 10 % of all products from China and most Canadian imports from Mexico and most Canadian. Investors regard tariffs as inflation, which may Prevent the Fed’s reduction rate this yearThereby exerting downward pressure to non -interest rate assets like Bitcoin.

Since its historical high last month, Bitcoin has fallen to 15 %, cryptocurrencies have declined for the third consecutive time on Sunday and reached a three -week low. However, since the expected possible strategic Bitcoin reserves and more favorable expectations for the early November election in the United States, its transactions are still 35 % higher Regulatory prospect Under a White House and Congress, which is friendly to encryption.

Below, we carefully study the chart of Bitcoin and apply Technical analysis Determine the key price level to pay attention to.

Potential double top

The price of Bitcoin has been calculated two. peak Around the same level between December and January, it is possible to form Double topA classic chart pattern, marking shortcoming reverse.

In addition, due to the slightly higher height of cryptocurrencies last month, Relative intensity index (RSI) Make a relatively shallow peak formed to drop Disagreement Between prices and indicators, pointing out that the purchase momentum is weakening.

Let us determine the three key levels that Bitcoin prices may attract support It is also pointed out that a key elevated area can be viewed during possible upgrade periods.

Key support level to monitor

The first level of monitoring is around $ 92,000. This area provides confluence From upgrade The line can be traced back to the low point last year, and there is a series of similar price points on the chart between November and January. The price was lower than this key level on Sunday, but it has been recovered in the area since then.

Further disadvantages may reduce the level of $ 87,000. At this location, digital currencies may encounter support nearby Pentagon flag pattern This was formed on the chart after the POP of the cryptocurrency was initially elected.

decisive break down Below this level will make the stages larger to about $ 74,000. Preferred investor Buy Strategy may find Entrance point In the area near the famous high altitude in March 2024, it is also closely consistent with the peaks in late October.

Key elevated area to watch

During the growth period, investors should pay close attention to the $ 106,000 area. This location is likely to attract great attention near December and January. Convincing volume– later breakthrough The level of key technical levels will invalidate the dual -layer mode, and it can be seen that Bitcoin continues its long -term upward trend.

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As of the writing of this article, the author does not have any of the above securities.