BTC may drop from here. Reasons:
1. There is a huge influx of BTC coins to exchanges which adds to selling pressure. Around 45k BTC were added to the exchanges yesterday.
2. Futures' positions are high, so it would be sensible to liquidate them
3. UK has raised its interest rate today
4. In the states they are waiting for figures for the unemployment
5. China/ Taiwan/ USA crisis can be a catalyst in the future so investors may want to reduce their risks.
6. S&P because of points 3,4,5 and 6 may drop significantly which can drive BTC also down
Some technical analysis is on the chart, with the support zones shown there
1. There is a huge influx of BTC coins to exchanges which adds to selling pressure. Around 45k BTC were added to the exchanges yesterday.
2. Futures' positions are high, so it would be sensible to liquidate them
3. UK has raised its interest rate today
4. In the states they are waiting for figures for the unemployment
5. China/ Taiwan/ USA crisis can be a catalyst in the future so investors may want to reduce their risks.
6. S&P because of points 3,4,5 and 6 may drop significantly which can drive BTC also down
Some technical analysis is on the chart, with the support zones shown there