Bitcoin (Btc) Saw the return of the US selling pressure on March 26 Wall Street Open as an eye examination of a “key shift in the market structure.”
BTC/USD 1-Hour chart. Source: Cointelegraph/TradingView
Bitcoin sees the classic US to dip as dollars acquired
Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD heading below $ 87,000.
The pair is satisfied with support through the Asian trading session during the day, but the onset of US hours has been triggered by a Familiar downward returns -make.
Bitcoin copied the lack of US stock momentum, including the S&P 500 and Nasdaq Composite Index which both dropped tomorrow.
The US Dollar Index (DXY), traditionally inversely correlated with BTC/USD, on the contrary rotates three weeks high of 104.46.
US Dollar Index (DXY) 4 hours chart. Source: Cointelegraph/TradingView
Commenting on the current scene of Risk-Asset, the trading firm QCP Capital maintains an emphasis on US President Donald Trump’s trade tariff leading to a Fresh circling steps Due to live on April 2.
“The uncertainty surrounding the US trade policy and the broader political scene remains in the face of thinking. Trump is teasing additional tariff steps early on April 2,” he wrote to the latest bulletin to Telegram channel.
“However, the market is still lacking in clarity in the scope, timing and greatness of these potential actions. Until then, we expect more volatility.”
However, the QCP suggested that Bitcoin could still “outperform tactical in the near term,” citing the decision by video game retailer Gamestop to add BTC to them Corporate treasury.
“While this is not the first of the corporate adoption story, the symbolic weight of GME’s meme status can be re -granted a sense of conclusion to the retail participants,” he argued.
“As we are reminded by the 2021 Playbook, retail flows, if coordinated, have the power to challenge the institution’s positioning.”
Breakout -day -day chart joins BTC price clues
Continuing the positive theme, the popular Crypto entrepreneur has good news for those who follow the BTC’s daily price chart.
Related: RSI BREAKS 4-MONTH DOWNTREND: 5 things to know in Bitcoin this week
Three months later, he revealed In X followers on the day Bitcoin escaped a downtrend, marked the latest in a series of recent reversal clues.
“The BTC has only been damaged from a 3-month downward channel, which sign a major move to market structure,” he summarizes next to an explanatory chart.
Btc/day chart. Source: Titan of Crypto/X
Number Cointelegraph reportedTwo major Bitcoin price indicators, the Kamag -child index (child -childRSI) and the hash ribbon metric both provide a preemptive reversal signal this week.
BTC/USD 1-day chart with RSI data. Source: Cointelegraph/TradingView
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