"Bitcoin pulled back a little as expected early last week, but then the bears came in with a sucker punch on Friday morning as Trump's talk of raising tariffs on China sent markets crashing down. Things escalated quickly after liquidity dried up in the afternoon to send bitcoin down to a low of $105,617 on the index price. The price action was a bit chaotic as some leveraged exchanges went as low as $102,000 and even $100,000."
"After the carnage was done, bitcoin had a nice bounce back up to close the week out at $115,128. The bears are still firmly in control, however, as long as the price remains below $118,350. The price dove deep down through all the more recent support levels last Friday, but the $105,000 support level managed to prove itself, propping up the price for the time being."
A tariff comment triggered a Friday sell-off that pushed bitcoin to an index low of $105,617 and briefly sent leveraged exchanges near $100,000. Price recovered to close the week at $115,128, but bears remain in control while price is below $118,350. The $105,000 level held as key support, with $96,000 as the next significant downside support if $105,000 breaks. A Fibonacci retracement from $126,219 to $105,617 marks 0.618 at $118,350 and 0.786 at $121,800 as critical resistance targets. Daily oscillators are still biased bearish.
Read at Bitcoin Magazine
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