Bitcoin (BTC) quickly closes at the $ 100,000 mark as US President Donald Trump teased a major trade agreement, with reports suggesting it could be with Britain

The recovery in prices is in line with Cryptocurrency’s wider Bullish Technical Setup and Beast Risk Mood in Traditional Markets. From this writing, the Asian shares traded higher, with futures tied to the S&P 500 up by 0.6%.

Still suggesting a few factors that $ 100,000 breakout may not be a smooth trip.

WSJ pours cold water over optimism

First, according to the Wall Street Journal, the large trade agreement that Trump was teasing in truth social could be a “framework for a message with customs adjustments.”

In other words, the impending message may be a framework for discussions that can lead to a trade agreement weeks or months from now. So the Bullish Momentum in BTC could slow down when the original optimism fades.

Resistance to $ 99.9k

As mentioned earlier this week, $ 99,900 could prove to be a tough nut to crack because of the potential of increased sales pressure from those who bought coins around these levels early this year and profits that took long -term holders.

Coinbase Premium

Coinbase Premium indicator, which measures the spread between BTC’s dollar-denominated price of Coinbase Exchange and Tether-Denominated Price of Binance, is largely seen as a power of attorney for demand from US investors.

In the past, sustained BTC Bull Runs has been characterized by a Uptick in Coinbase Premium.

However, since the end of April, the seven-day sliding average of Coinbase Premium has diverged Bearishly from the award.

Bearish rsi divergence

While BTC set a new height of several weeks during the Asian session, the 14-hour relative strength index followed, an indicator used to measure momentum and overbought and oversold conditions.

The resulting bearish divergence suggests that the momentum can be weakened.