BTC: Crypto Market Faces Major Crash
2025-02-03
Category: None

BTC: Crypto Market Faces Major Crash Amidst USD Strength
 
During the night, the entire cryptocurrency market experienced a significant crash, driven by the strengthening US Dollar (USD). The new tariffs imposed by President Trump on Canada, Mexico, and China have bolstered the USD, leading to aggressive movements across all markets.

Bitcoin (BTC) has completed a bullish harmonic pattern, indicating a more stable situation. The price may correct within this zone, but potential comments from President Trump regarding the crypto market could further support BTC's short-term strengthening.

A strong support zone is found near 31,230, where the price has previously reacted and formed the bullish harmonic pattern. Resistance zones ahead are located near 98,200; 102,385; and 105,470.

 You may find more details in the chart!
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