Bitcoin chart shows ‘diamond pattern’ with $96K target — What kicks off the downside?
Bitcoin shows strength due to traders’ hope of a crypto-related executive order from Pres. Trump, but analysts warn that a dip below $101,000 could kick off a $1.3 billion long liquidation.
Bitcoin is enjoying a day of bullish price action, but any disappointment related to the markets’ anticipation of a crypto-related executive order from President Trump on Jan. 23 could trigger a correction in BTC (BTC) price.
Bitcoin price rallied after Senator Lummis’ X post. Source. X
Some analysts believe Bitcoin price could be headed to a correction below $96,000, based on emerging technical chart patterns, especially as markets remain increasingly sensitive to tightening economic conditions in the United States.
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Author: Zoltan Vardai
