Bitcoin (BTC) spiked to $119,800 after President Trump delayed new tariffs on Chinese goods for another 90 days. The move eased market tensions, but will the rally hold?
📈 BTC briefly touched $119,800 before pulling back 📉 Now testing $119,000 support (CME gap below) 🎯 All-time high target: $123,000 if bullish momentum continues
What’s Next for Bitcoin?
1. Macroeconomic Data Ahead
📅 August 12-13: U.S. CPI & PPI inflation reports 💹 86.4% chance of September rate cut (per CME FedWatch) 📉 Cooling inflation could boost crypto further
2. Technical Outlook
🔹 CME gap at ~$119K may need filling first 🔹 Resistance at $122K remains strong 🔹 Fed decisions will dictate next big move
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