The price of Bitcoin (BTC) stabilized at around $97,000, rebounding 2.7% over the past two days. The crypto market showed optimism as U.S. and Chinese officials plan to start negotiations this weekend to ease the trade war. However, traders should remain cautious as the interest rate decision of the Federal Reserve (Fed) during the U.S. session could bring volatility to risk assets like Bitcoin.
New Hampshire Governor Kelly Ayotte signed Bill 302 (HB 302) on Tuesday, making the state the first state in the United States to establish a strategic Bitcoin reserve. The law allows the state treasurer to invest up to 5% of public funds in Bitcoin and other digital assets. Bitcoin reacted positively to the news, rising 2.22% on the day to close at around $96,800.
Bitcoin Analysis Prediction:
If Bitcoin breaks out on a daily basis and closes above $97,700, it could extend its rally toward its psychological resistance level of $100,000. However, if Bitcoin encounters resistance near $97,700 and corrects downward, it could extend its decline to retest its next critical support at $90,000. The relative strength index (RSI) reading on the daily chart is 65, which is above its neutral level of 50, indicating bullish momentum and supporting the bullish view. However, the moving average convergence divergence (MACD) indicators on the daily chart are entangled with each other, suggesting indecision among traders.
BTCUSD 
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New Hampshire Governor Kelly Ayotte signed Bill 302 (HB 302) on Tuesday, making the state the first state in the United States to establish a strategic Bitcoin reserve. The law allows the state treasurer to invest up to 5% of public funds in Bitcoin and other digital assets. Bitcoin reacted positively to the news, rising 2.22% on the day to close at around $96,800.
Bitcoin Analysis Prediction:
If Bitcoin breaks out on a daily basis and closes above $97,700, it could extend its rally toward its psychological resistance level of $100,000. However, if Bitcoin encounters resistance near $97,700 and corrects downward, it could extend its decline to retest its next critical support at $90,000. The relative strength index (RSI) reading on the daily chart is 65, which is above its neutral level of 50, indicating bullish momentum and supporting the bullish view. However, the moving average convergence divergence (MACD) indicators on the daily chart are entangled with each other, suggesting indecision among traders.
BTCUSD BTCUSDT BTCUSDT.P BTCUSDT.P BTCUSD BTCUSD 
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Signal entry: t.me/FcCygjylf
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🎁Stable weekly profit exceeds 259.7%🎁Win rate is as high as 98.83%,✔Copy accurate trading signals✔Account management. Real-time communication: t.me/cryptoanalyst_baker
Signal entry: t.me/FcCygjylf
Signal entry: t.me/FcCygjylf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.