The dominoes keep falling, one more bank in danger? – After the Silicon Valley Bank, it is the turn of the First Republic Bank to worry the operators. After the start of March, the stock turned over 80%. Of course, the ECB is confident, it has decided to drop the rate by 50 bps. Despite the difficulties of some French banks, the ECB does not flinch. After a brief foray into $24,000 worth of bitcoin, the bidders left and stayed the course. Will the trend continue?
This Bitcoin price analysis is brought to you in collaboration with CryptoTrader and its algorithmic trading solution finally accessible to individuals.
Bitcoin price is up 2.5% in 24 hours
Bitcoin (BTC) attempts crash, it continues to move above $24,000 :
The reproach of BTC 2.5% in 24 hoursand of 14% in a week The price shows an increase of 45% in three months. Also, Bitcoin surpasses Ethereumthe twinned poster joins the house of 9% in six months. The arrival of miss a day shanghai on Ethereum could be a game-changer against Bitcoin?
Bitcoin is no longer correlated to other markets?
For the moment, market players consider Bitcoin as a risky act. Because of this, it tends to be correlated with the NASDAQ and the S&P 500. During, since the beginning of the year, Bitcoin tends to go it alone:
As we can see, if the correlation of Bitcoin with other markets was pendant three strong the year 2022, the trend would seem to change in 2023. This trend even seems to be accentuated after the start of the banking crisis. Since then, is bitcoin playing the role of a refugee assetlike gold, in the midst of a banking crisis?
Bitcoin price attacks resistance at $25,000
the lesson bounces at the level of the institutional bias (EMA 9/EMA 18) pointing upwards, the buyers are again attacking the resistance at $25,000 :
The price of the king of cryptocurrencies remains solid. If applicants push, you will have the option of franchising the resistance at $25,000. It will then be necessary to use this level as long as supportto return to the level of the next resistance at $28,500. On the other hand, the sellers could show themselves once again at the resistance level, the price could then reach the support at $23,900. The price must keep the last low marked at $23,470 to avoid scoring double top in 4 hours.
The banking crisis continues to wreak havoc, the situation does not seem to be under control. Bitcoin has been integrated for this kind of events, it is present for the moment. Will bidders finally reach the resistance at $25,000?
Will you decide to trade from some of your cryptocurrencies? through are optimized trading serviceCrypto Trader You allow yourself to maximize your profits in a simple, diversified and fully automated way.
