The price of encryption remained volatile on February 4, and Bitcoin briefly recovered $ 100,000 after US President Donald Trump paused Canada and Mexican tariff threats.
However, China’s rescue rally was short as China announced its retaliation tariffs on US products, including 15%of tariffs on coal and liquefied natural gas, 10%for crude oil, agricultural machinery and certain vehicles.
The news returned to the Bitcoin price to $ 98,000. The new trade war has weakened the new strong feelings.
relevant: Trump’s trade war will send BTC Price “violently higher” -An analysts
As the Bitcoin (BTC) market reacts to the Trump Trade War, we will look at some of the main levels that can be seen in the short term.
Bitcoin price “Golden Zone” will be extended to $ 90,000
Bitcoin fell to $ 90,000 on February 3, with the repetition of this movement, which was the highest of more than $ 108,000 last month.
This is closely observed by traders and has been re -tested several times since November 18.
Trader George said that the current Bitcoin market setting offers two scenarios.
He depends on “whether he thinks there is a low person.”
He said that the optimal trade (OTE) area is from $ 93,000 to $ 95,000 if the level of immediate support is held.
If this level is not maintained, “Turn the eyes of all below and find a large spike below before purchasing,” George added.
“We think it’s low for a while, but I need more range for the first week of February and I think a higher expansion is needed later this month.”
BTC/USD 12 -hour chart. Source: George
Fellow analyst MARK CULLEN has emphasized some support levels using the Fibonacci Repression level.
CULLEN said that the state opened around 38.2% fibonacci returns of $ 98,000 said it is a “good place for shallow retreat and continuous.”
However, the analyst said he found a “strong order block and golden zone” for about $ 95,000.
“If $ BTC wants to shake until late, this is another place I will find.”
BTC/USD price chart. source: MARK CULLEN
Meanwhile, Michael Van de Poppe, the founder of Mn Capital, said Bitcoin could see the new best in February if the price is over $ 93,000.
“I think I will see a new ATH in February, and it’s very normal to modify it after a strong bounce. ‘
Source: Michael van de Poppe
Bitcoin prices must be maintained at more than $ 97K
Analyzing Bitcoin’s realization price distribution (URPD) will help you determine the location of the current derivative or UTXOS set. This provides insight into the cost standards and interests of support and resistance.
According to the glass node chart below, some of the main bitcoin support levels to watch are $ 97,500, $ 96,450 and $ 94,300.
Bitcoin URPD data. Source: Glass Node
On the other hand, the critical resistance point of the BTC is $ 100,780 and $ 101,867.
Bitcoin’s immediate support is especially important according to Coinglass’s Bitcoin Blightation Heatmap.
The walls of bidding liquidity are beyond this level, suggesting that the re -testing and liquidity of books are increasing in the short term.
Bitcoin liquidation heat map. Source: COINGLASS
As reported by COINTELEGRAPH, the derivatives data may have a floor, but the fear of the investor can limit the recovery for more than $ 100,000 for the time being.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.