U.S. Markets Struggling Below Critical Resistance: Bitcoin Remains at Risk
The NASDAQ and S&P 500 indices continue to trade below key resistance levels. These levels are crucial indicators for investors, but for now, the market remains under selling pressure.
📉 NASDAQ 100 faced rejection around the 19,800 level and is experiencing renewed downward pressure.
📉 S&P 500 is struggling to break above 5,650, showing signs of weakness.
As long as these resistance levels remain intact, risk assets will continue to face pressure. #Bitcoin , which has a high correlation with U.S. indices, is also feeling the impact of this weakness. If the indices fail to break above their resistance zones, Bitcoin’s downward trend is likely to persist.
Moving forward, NASDAQ and S&P 500 price action should be closely monitored. A breakout above these key levels could bring relief to the markets. However, the current situation calls for caution.
🚨 Until these resistance levels are broken, determining the long-term direction remains uncertain. In the coming days, movements in the U.S. markets will be crucial for Bitcoin and other cryptocurrencies.
Stay tuned! 📊