Bitcoin moves into negative territory and back below 100 hour MA.

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The "Trump Accounts" are opening today, and Pres. Trump when asked if they would include Bitcoin, responded by saying "I am a big fan of crypto" and that the Trump Accounts could include the digital currency.It was reported over last week or so that President Trump's 2025 financial disclosure shows that cryptocurrency became the largest driver of his personal income, with more than $1.4 billion in reported income tied to crypto-related ventures. The filing marks a dramatic shift from his traditional reliance on real estate, golf clubs, and branding businesses. More specifically, looking at bitcoin the breakdown showed:World Liberty Financial: Nearly $800 million in income came from this crypto venture, which Trump co-founded with his sons. The reported income included:More than $520 million from token sales.More than $250 million from the sale of ownership interests in the business. $TRUMP memecoin: Trump reported approximately $635 million in royalties or proceeds tied to the Trump-branded meme coin, which launched shortly before his second inauguration.HMMMM. I know why he is a big fan.Regardless of the ethics surrounding President Trump's involvement in crypto, it is the price action that matters most to traders. At least for now, Bitcoin is not following the President's lead and is instead trading lower.From a technical perspective, Bitcoin has fallen back below its 100-hour moving average (blue line on the chart above), currently near $62,410, after dropping to a session low of $61,246. Importantly, that decline has so far found support above the rising 200-hour moving average near $61,002 (call it $61,000).That leaves the short-term technical bias neutral. The 100-hour moving average around $62,400 is the key resistance level, while the 200-hour moving average near $61,000 serves as critical support.The next directional clue will likely come from a break of one of those moving averages. A move back above the 100-hour moving average would shift the near-term bias back in favor of the buyers and open the door for a run toward the next swing area between $64,600 and $65,500.Conversely, a break below the 200-hour moving average would hand control back to the sellers, with the next downside target coming in between $58,000 and $59,100. That area sits just above the recent cycle low of $57,735, reached on July 1, before Bitcoin staged a corrective rebound to $63,858.For now, traders should focus less on the headlines and more on the battle between the 100-hour and 200-hour moving averages. A break of either level should provide the next meaningful directional signal. This article was written by Greg Michalowski at investinglive.com.