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Bitcoin has a look below 102k this morning- where next?
Yesterday Bitcoin seemed to fall foul of a rebound in the US dollar and a nudge higher in US yields. The growing spat stateside over Stargate might be a factor in the mix too. So, whatever the reason, BTC could and probably should have initially done better, when it failed to climb back above 107k. The price action into the wider US close saw it fall back underneath 104k. That downdraught delivered a further downside move not that long ago this morning. BTC dropped to 101,536. it has lifted off that low now, but the outlook is surely a little more circumspect this morning. That 100k level is still a line in the sand support point and we know that 109,241 remains guarding the topside. The surge in BTC since the US election last year is clear to see and the only question to ask right now- has this run its course at 109,241? Well, if it has then 100k will be the first test in trying to answer that question. BTC is right now at 102,385
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