Bitcoin had been performing well and progressing as expected, but recent geopolitical events and news developments have disrupted its momentum.
We suspect this could be a manipulative move or a shakeout ahead of a potential rally.
At present, Bitcoin is trading above a key demand zone and is trying to reclaim its exponential moving averages (EMAs) for an upward move. If the demand zone holds, Bitcoin could reach higher levels in the coming days.
However, if the demand zone breaks, we might see Bitcoin retracing to the 53k level before the anticipated rally. We'll keep you informed of any major updates.
Trade safely!
