Bitcoin is again under pressure following failed attempts to resume growth. On Tuesday, the leading digital coin trades near 2-week lows amid general risk aversion.
A week ago, BTC probed levels above the $94,000 mark, but the ascent could not be sustained—market participants renewed selling, bringing quotes below $90,000.
Today, as at the beginning of the week, Bitcoin momentarily dipped below $86,000, after which it slightly rebounded. The short-term technical picture remains bearish, partly due to players’ caution ahead of the release of key US employment figures. The data that will emerge later today might influence expectations regarding Fed rates. However, the reduction in credit costs by the Fed last week did not inspire cryptocurrency buyers.
Analysis of the Bitcoin chart by WarrenAI, the smart chatbot from Investing.com available directly on the instrument’s chart page, confirmed that the trend remains bearish, but allowed for a rebound as a possible short-term respite for the bears. The AI named breaching the $85,230 level as the main risk.
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