A difficult chapter to clear for Bitcoin – Despite the violent movement known at the beginning of the week, the sellers showed themselves at the level of the resistance at $25,000. Bitcoin (BTC) fails to stay above $25,000 for long. At the same time, the banking sector continues to worry operators. Actually, Credit Suisse 20% plow, and French banks are not spared. Despite the context, can BTC continue its trend?
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Bitcoin price drops 6% in 24 hours
There volatility is back on the cryptocurrency market. After getting a nice buying reaction under $20,000, I Bitcoin (BTC) block at the resistance And 6% drop in 24 hours.
After 24 hours, sellers take over the principal. The Bitcoin course 2% rebound after 1 hour. Despite everything, Bitcoin regains color after a few weeks and shows a 10% increase over one week and an increase of 38% in one month.
Bitcoin Trading Volumes Rise
after the Bankrupt FTXthem trading volumes on Bitcoin considerably Is hot.
Volumes decreased following the FTX affair. i month December depending on the volumes traded particularly reliable. After the start of 2023, volumes are increasing. A new high at the same time I marked March 14 with the overcoming of $26,000. Operators seem to be interested in new cryptocurrencies.
Bitcoin price drops below $25,000
In the previous editionwe believe Bitcoin should have the level of $25,000 support to attempt to get back to the next resistance level at $28,500. Unfortunately, the level did not hold.
The course must keep the support at $23,900 to try to re-attack the resistance at $25,000. The price rebounds at the level of support and institutional bias (EMA 9/EMA 18), around $24,000. If the sellers manage to break the support, the price could reach the next level of support at $22,500 (red arrow).
The RSI will return to the level of the resistance Identify them in the previous edition, in the overbought zone. You accelerated momentum. He needs to come down.
after a explosive start to the weekthe operators present from beneficial. Resistance at $25,000 tempts the cut, but buyers may not have had their final say. Due to the current context, we probabilities to have no rate hike at the next meeting increase. Faced with the crisis situation, Jerome Powell will have to resume his jacket, only a week after announcing that the FED could accelerate the rate hike?
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