Bitcoin (BTC) After temporarily passing $ 47,000, I fell on Wall Street, which opened on April 5.
Traders show the importance of 200 DMA for Bitcoin
Therefore, the pair was at about the same level as it was 24 hours ago, with both upper and lower volatility seen during that period.
In the lack of overall direction, traders and analysts were waiting to see where the biggest cryptocurrencies would go next.
The popular Twitter account CivEkonom was optimistic and highlighted the $ 54,000 CME futures gap as a potential target.
“We’ll talk about compression and hoisting. We need to dissolve, but you never know,” he said. Said As part of his comment that day.
Fellow account CryptoRover pointed out the importance of the 200-day moving average that Bitcoin was trying to break through. Historically, he emphasized that success in doing so has led to significant price increases.
— Cryptographic Rover (@rovercrc) April 5, 2022
Therefore, the company’s Bitcoin finance is 129,218 BTC, which is still the largest in the world. But as Cointelegraph reported, Blockchain protocol Terra This means that your own stash should eventually exceed the stash of MicroStrategy and all other Bitcoin whales.
Analysts close the impressive first quarter
On the other hand, for trader and analyst Rekt Capital, there were many things to celebrate with Bitcoin in a higher time frame.
In a series of tweets on April 5, he declared that Bitcoin’s first-quarter candles were a successful achievement despite the opening price of the second-quarter. Substantially the same..
Bitcoin closed quarterly below midrange resistance for three consecutive quarters
But this past quarter, $ BTC Compared to the orange multi-quarter high arrow, we were able to form more high arrow
— Rekt Capital (@rektcapital) April 5, 2022
“What’s interesting about BTC right now is that we’re retesting the quarterly midrange area for weekly timeframe support,” another post. read..
Rekt Capital Further signal Incoming volatility on the weekly chart, thanks to the tightening of the Bollinger Bands volatility index.
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