Talking on technical side for Btc
Bitcoin is forming a bullish pennant on the daily chart, where yesterday’s daily close was positive despite the prior dump.
The bulls are making a strong effort to push the price upward from the key support level at $92K, with $91.8K acting as an extremely strong support area throughout the chart.
Taking today’s news into account, we anticipate a possible dip toward the strong support level, followed by sideways movement until the 20th. On the 20th, a strong breakout is expected, potentially driving the price to a new all-time high (ATH).
However, it’s important not to be overly optimistic due to the ongoing market sentiment influenced by the news. Let’s consider the worst-case scenario: If the strong support at $91.8K is broken, a sharp 5% correction could occur, bringing the price down to $85K, the next major support level. That said, this would likely be a rare case, in my opinion.
