Basic Points:
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Bitcoin is looking for integration after rapid acquisitions as stocks and the US dollar surge in the US-China Trade Deal News.
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The nearby order of the book of liquidity generates potential targets for merchants, now with $ 102,000.
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A classic transfer of average retest suggests that a new all-time high should result.
Bitcoin (Btc) stuck to $ 104,000 on May 12 Wall Street Open as markets moved on to the US-China trade deal news.
The reactions of the trade deal of Bitcoin US-China
Data from Cointelegraph Markets Pro and Tradingview BTC/USD showed integration after pressing the highest level since late January.
The US and China have agreed that the day’s trade tariffs, causing the S&P 500 and Nasdaq composite index to get about 3%.
The strength of the US dollar also benefited as a result, with the US dollar index (DXY) whipping a month high.
“The last hour of US tariffs in China is high, the S&P 500 is ~ 200 points lower, 4 fed rate cuts are expected in 2025, and Wall Street calls for a backwards,” Kobeissi’s trade letter respectively write In the part of the ongoing examination of X.
“Emotion is everything.”
Bitcoin thus adopted the middle ground between the main properties during the day as the gold fell over $ 3,208 per ounce, close to months-to-date lows.
“The BTC sank the nearby liquidity above after cutting around the $ 103k- $ 105k spot in a few days,” famous businessman Daan Crypto Trades said X Followers next to a chart of Exchange Order Book Liquidity from monitoring resource coinglass.
“Below keep an eye on the ~ $ 102K region because that’s a relatively dense place in terms of cluster of extermination. It can be a great level for some action. Depending on the reaction there you can study again.”
Coinglass data showed up bids around the $ 103,000 mark after Wall Street was open.
New BTC Price Table “In Working”
Continuing, fellow businessman Crypnuevo was among the doubling of a longer bull thesis for BTC price action.
Related: Is Bitcoin about to be parabralic? BTC price targets include $ 160k to the next
BTC/USD, he said, conducted a successful retest of the 50-week exponential transfer of average (EMA).
Currently at $ 80,300, 50-week EMA has operated as a springboard for new all-time highs in recent years.
“We got 1w50ema retest and, consequently, the next leg,” Crypnuevo explained to a X thread on May 11.
“Every time we saw this structure, we made a new high so the trend implies a new ATH in labor.”
Earlier, Cointelegraph reported In a classic Bull Breakout Breakout signal in weekly timeframes in the form of a cross on the moving average convergence/difference -It (MACD) indicator.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
