Bitcoin (BTCHe approached 90,000 dollars in the Wall Street Open on March 24, where he warned the analysis of “speculations and conflicting signs.”
BTC/USD 1 hour graph. Source: CointeleGRAPH/TradingView
BTC daily gains near 3 % in mitigating risk assets
Data from Cointelegraph Markets Pro and Tradingvief BTC/USD show up to $ 88,772 on Bitstamp – its highest level since March 7.
Bitcoin followed the shares by opening the week up after nearly a month of pressure from the sale side. The S&P 500 and NASDAQ compound increased by 1.6 % and 2 %, respectively, at the time of writing this report.
Comment, Copsy Message Trading Supplier Make up The bullish trend as a positive reaction to the news that the United States government was alleviating the severity of the new commercial tariffs that are scheduled to become effective on April 2.
It quoted sources that informed that “the definitions of the sector” will appear instead of the bases of the blanket.
“S&P 500 has now rose +75 points on the news.”
S& p 500 graph for 4 hours. Source: CointeleGRAPH/TradingView
The momentum of the encryption market has already gained thanks to the rumors of the United States Using gains on its golden reserves To buy BTC.
“If we really realize the gains [these holdings]Last week, Bo Heins, CEO of the Chamber of Advisors, said in an interview with Crypto in America Bodcast last week.
In his last analysis on the market on March 24, Keith Alan, co -founder of commercial resource materials indicators, suggested that the news had not fallen on deaf ears.
Although the relatively highly modest BTC price is written in x subject“Announcing that the administration was considering selling gold reserves to buy bitcoin, definitely gave speculators some hologram.”
“With gold in ATH and BTC lands in correction, this will be a suitable time to make some profits on gold and buy bitcoin.” Add.
Xau/USD 1 Day of the graph. Source: CointeleGRAPH/TradingView
BTC needs major support to restore to avoid its lowest levels
Continuing, Alan has made major requirements for the stability of the BTC price.
Related to: RSI collapses for 4 months of the declining direction: 5 things to know in Bitcoin this week
The simple moving average for 21 days (SMA), currently at 84,674 dollars, should be recovered annually 2025 at about $ 93,300, as support.
BTC/USD chart with 21sma. Source: CointeleGRAPH/TradingView
“Through conflicting signs and signs, how can we know if Bitcoin returns to a road to ATH or if this is an advanced bull trap? The answer is to know what levels of verification/nullification are,” he explained.
The annual open, in particular, will be very important, as Alan argues that until it is recovered, “there is an increasing possibility that the price will re -test its lowest levels.”
“If this happens/when that happens, I will buy these declines when buying CVs,” and concludes to say.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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