Bitcoin Faces Diminishing Momentum Amid Geopolitical and Technical Challenges

The emergence of a flag pattern and unfavorable fundamentals have caused a decline to $104,550, with the doji candlestick serving as a limiting factor. Currently, a descending wedge is forming, and a breakout upwards is anticipated, as indicated by the Aroon indicator. A rapid return to $110,000 is also necessary. Additionally, China's restriction on cryptocurrency holdings has led to a downturn, and South Korea's authorization for corporations to sell digital assets is another less-than-positive development. The mayor of Panama proposed using BTC to pay for canal passage fees. Risky trader James Winn lost $99.3 million due to BTC's fall. Nick Forster suggests BTC has taken a "healthy pause" before a rally. Sailor explained why he sees BTC as a perfect form of capital. Google warns that quantum computers could break BTC encryption sooner than expected. Pakistan announced the creation of a Bitcoin strategic reserve. Weble Lunde from K33 Research noted that Strategy's reserve accumulation rate has decreased due to multiple factors. Wishing profits to everyone!