Bitcoin Pulls Back to Daily EMA 8 as Market Reacts to Uncertainty
Bitcoin reached a new all-time high of $112,000 before experiencing a sell-off due to geopolitical tensions following comments from US President Donald Trump regarding tariffs on EU imports. This volatility highlights the sensitivity of crypto markets to macroeconomic news.
Key points:
- BTC's surge marked a significant moment in price discovery.
- The recent pullback is viewed as a potential healthy consolidation rather than an indicator of a deeper correction.
- BTC is currently testing the daily EMA 8, which may indicate continued bullish control if maintained.
- A break above $115,000 is necessary for sustained bullish momentum.
- Support levels are observed at $107,800 (34-period EMA) and $106,273 (50-SMA).
- If support fails below $106,000, focus will shift to the next major support at $103,600.
