Happy Tuesday, dear traders! If you are looking for crypto trading signals, then you are in the right place. Today, we will discuss Bitcoin (BTCUSD) Technical Analysis. Let’s dive into the analysis without delay.

Today’s Bitcoin (BTCUSD) Technical Analysis by Guriforex

Bitcoin (BTCUSD) is experiencing heightened volatility following the inauguration of Donald Trump, with market participants closely monitoring developments in the cryptocurrency space. After retesting a previously broken downtrend, Bitcoin has reclaimed key levels, signaling potential for further bullish momentum, provided certain conditions are met.

Bitcoin Technical Analysis Breakdown

The price action on the 4-hour chart highlights Bitcoin’s sharp movement, driven by a mix of technical and fundamental factors. The retest of the $100,082 support level, which aligns with the broken downtrend line, has caught the attention of traders.

• Resistance Zones: The liquidity zone at $108,024 serves as the immediate target for bulls. However, Bitcoin must first consolidate above the $102,800 level to confirm a breakout and sustain further upward momentum.
• Support Levels: The $100,082 level will act as a critical support zone. A failure to hold above this level could lead to renewed bearish pressure, driving prices back into a consolidation phase.

Fundamental Context

Bitcoin’s recent rally is also tied to speculation surrounding Donald Trump’s administration. Reports suggest that Trump’s first 200 executive orders may include policies impacting the cryptocurrency market. Notably, the CEO of Bitcoin Magazine claimed that these policies could include a comprehensive regulatory framework for cryptocurrencies in the United States.

Market sentiment remains mixed, with bulls eyeing the potential for a crypto-friendly regulatory environment and bears wary of volatility and uncertainty in the short term.

Trade Setup & Idea

🔼 Bullish Scenario: Buy BTCUSD only if it consolidates above $102,800 with sufficient volume confirmation.
🎯 Target: $108,000
🔽 Bearish Scenario: If Bitcoin fails to hold above $100,082, expect a potential return to lower levels within the broader consolidation range.

Thoughts about Bitcoin

Bitcoin’s price action in the coming days will depend on a mix of technical setups and political developments. The cryptocurrency market is entering a pivotal phase as traders await clarity on potential regulatory policies under the new administration.

💬 What are your thoughts on Bitcoin’s future with Trump? Share your perspective in the comments below!