BTCUSD: Navigating the Volatility - Where Next?

Here's our near-term outlook on BTCUSD:The chart of BTCUSD has created a No overlap zone before breaking down to the current levels, there's a potential of retest around the price of 84,738 that can act as a entry point for shorts targeting the level of 73,847. The levels are marked in the chart and can be taken as reference.

• Market Sentiment: FUD can rapidly sway investor confidence.
• Regulatory Developments: New regulations can deter investment.
• Macroeconomic Factors: Economic downturns decrease risk appetite.
• Technological Issues: Network failures or vulnerabilities can erode trust.
• Market Manipulation: Whale sell-offs cause panic among smaller investors.
• Investor Behaviour: Profit-taking after price spikes can lead to declines.
• Global Events: Geopolitical tensions increase market volatility.
• Negative Media Coverage: Bad press can impact public perception.
• Supply/Demand Dynamics: Decreased demand or supply changes influence price.

sudhanshu