Bells Are Ringing for Bitcoin: Macroeconomic Data Causes Selling Pressure
Bitcoin has managed to experience bullish momentum in recent days. However, data from the US side caused selling pressure again. According to analysts, Bitcoin has to surpass the $71,500 level. The bullish case for Bitcoin is shaped around a series of higher lows. The bearish case revolves around the bulls failing to confirm an R/S reversal at the trendline, $69,000, or the 21-Day Moving Average. Bitcoin funding rates appear to be healthy for the first time since the price of Bitcoin rose above $70,000. Bitcoin needed this volatile consolidation to clear short positions in the futures market. An encouraging sign for bulls. He suggested that investors are now hesitant to push the price of Bitcoin higher due to successive rejections near all-time highs. It is important to break the $71,500 level and keep it above. Then all-time highs should be a matter of time.
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KatyPaty
· 2024-04-12 02:53
Thank you very much for the information and I wish you successful trading 💯
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MrSTAR
· 2024-04-12 02:51
Thanks for the info. To Da Moon 🌕
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PickingUpBottlesWhilePassingBy
· 2024-04-12 00:53
The darkest hour comes before dawn The big guy took me 💰 back to the fast return 🐂
Bells Are Ringing for Bitcoin: Macroeconomic Data Causes Selling Pressure
Bitcoin has managed to experience bullish momentum in recent days.
However, data from the US side caused selling pressure again.
According to analysts, Bitcoin has to surpass the $71,500 level.
The bullish case for Bitcoin is shaped around a series of higher lows. The bearish case revolves around the bulls failing to confirm an R/S reversal at the trendline, $69,000, or the 21-Day Moving Average.
Bitcoin funding rates appear to be healthy for the first time since the price of Bitcoin rose above $70,000. Bitcoin needed this volatile consolidation to clear short positions in the futures market. An encouraging sign for bulls.
He suggested that investors are now hesitant to push the price of Bitcoin higher due to successive rejections near all-time highs.
It is important to break the $71,500 level and keep it above. Then all-time highs should be a matter of time.
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To Da Moon 🌕
The big guy took me 💰 back to the fast return 🐂