Bitcoin/U.S. Dollar forecast: Bitcoin prices are falling, but the big picture is still positive over $90,000 and continuing

After the dollar gained a new lift from Donald Trump's recent remarks, the price of bitcoin sank 2.6% in Asian and European trade on Monday.

Price action remains above key 95K support (psychological/floor of congestion that continues into fifth straight day), maintaining a near-term bias in favor of bulls, despite today's decline being the largest in one week.

Bitcoin recently set a new record high of 99800 vs. dollar, which put further pressure on the mystical 100,000 barrier. However, the price fell due to anticipated significant headwinds in this zone, and it has been consolidating between the 90K/100K area for a while.

Considering the crypto market's recent strong post-US election rally and the pro-crypto Trump administration's expected measures, this was seen as a logical reaction. However, the market is still waiting for Trump to implement the policies he promised during the campaign, which would give bitcoin fresh and significant support.

For the time being, bitcoin seems to be on the defensive, but it is still trading sideways as it awaits new signs of direction.

Markets will be paying close attention to economic data (the US November labor report is in focus) and political and geopolitical events, so larger bullish trends should continue over 90,000.

Numbers: 95935, 98280, 98800, and 99032.

Supp: 95,000; 94,199; 91,501; 90,000.

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