Bitcoin bull trap? Watch these BTC price levels as BTC price risks $90K retrace
On February 4, Bitcoin briefly reclaimed the $100,000 level, fueled by a temporary relief rally following US President Donald Trump's pause on tariff threats against Canada and Mexico. However, renewed trade war fears, particularly China's retaliatory tariffs on US products, caused the rally to fizzle. Traders are closely watching the $90,000 zone, following a drop from Bitcoin's recent all-time high above $108,000. Popular trader George suggested an optimal entry price between $93,000 and $95,000, emphasizing the need for immediate support to hold. Analyst Mark Cullen identified key Fibonacci retracement levels to monitor, while MN Capital's Michael van de Poppe noted potential for new all-time highs in February if Bitcoin stays above $93,000. Key support levels include $97,500, $96,450, and $94,300, with resistance around $100,780 and $101,867. The current market sentiment suggests a cautious recovery beyond $100,000, amidst ongoing volatility and investor fears.
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