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
Data from Cointelegraph Markets Pro When TradingView As the financial markets opened on April 5, BTC / USD showed that it was facing downward pressure.
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.
#Bitcoin Retest 200dMA as support for the first time in 190 days.#BTC When this last happened, it rose 66% in the next 43 days! pic.twitter.com/UEifS92BfR
— Cryptographic Rover (@rovercrc) April 5, 2022
News that MicroStrategy had Purchase over 4,000 BTCDuring that time, I couldn’t delivery Sustainable market strength despite praise from commentators.
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..
#BTC -Quarterly
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
Very strong buy-side reaction from blue# Cryptography #Bitcoin pic.twitter.com/H7i9bDDjOU
— 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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