$BTC Several Signs to Watch Out For ‼️‼️‼️

Traders should be cautious as they pay attention to US President Donald Trump's speech at the World Economic Forum (WEF) in Davos on Wednesday.

"Trump's speech will be closely watched by financial market participants as it will indicate further steps the White House has to increase pressure on members of the European Union (EU), who oppose Washington's plans to acquire Greenland," reported FXStreet.

Trump's more aggressive rhetoric on tariffs and the annexation of Greenland could further trigger risk-off sentiment, increasing the likelihood of a deeper correction in Bitcoin. Conversely, more measured comments on the Greenland issue could help ease geopolitical tensions, revive risk appetite, and support BTC recovery.

If BTC continues its correction and closes below the nearest support at $87,787, it could continue its decline towards the lower consolidation boundary at $85,569, which coincides with the 78.6% Fibonacci retracement level.

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