Bitcoin Price Forecast: BTC hovers around $95,000 as Trump hints at mixed signals on the economy, trade deals :

Bitcoin price hovers around $95,00 on Monday after falling nearly 3% over the weekend.
President Trump acknowledged a possible recession but aims to announce at least one trade deal this week, the Wall Street Journal reports.
On-chain data shows that BTC holders are realizing profits, increasing the downward pressure on price.
Bitcoin (BTC) price is hovering around $95,000 at the time of writing on Monday after facing a pullback of nearly 3% over the weekend. US President Donald Trump acknowledged a possible recession but aims to announce at least one trade deal this week, the Wall Street Journal reports. On-chain data shows that BTC holders are realizing profits, increasing the downward pressure on price.
Bitcoin's technical outlook suggests bearish divergence in the short term
Bitcoin price action on the 4-hour chart shows weakness in the Relative Strength Index (RSI) momentum indicator. The higher high in the BTC price formed on Friday does not reflect the RSI's lower high for the same period. This development is termed a bearish divergence, often leading to a trend reversal or short-term pullback. Moreover, the Awesome Oscillator indicator also moved below its neutral zero on Sunday, suggesting a bearish trend ahead.
If BTC continues its downward move, it could extend the decline to retest the next 4-hour support level of around $92,580.
Looking at the daily chart, Bitcoin price retested and was rejected around its daily resistance level of $97,700 on Friday. It then declined nearly 3% over the next two days. At the time of writing on Monday, BTC trades at around $95,000.

If BTC continues to correct, it could extend the decline to retest its next key support level at $90,000.
Looking at the daily chart, Bitcoin price retested and was rejected around its daily resistance level of $97,700 on Friday. It then declined nearly 3% over the next two days. At the time of writing on Monday, BTC trades at around $95,000.

If BTC continues to correct, it could extend the decline to retest its next key support level at $90,000.
However, if BTC recovers and breaks above its daily resistance at $97,700, it could extend the gains to retest its psychological resistance at $100,000.
#BTC#