After a potential turning to the upscale feelings in the past three days, the price of Bitcoin (BTC) decreased about 3 percent over the past 24 hours of trading at about $ 83,875 on Friday, March 21, during the midon session. The leading currency was rejected in the direction of falling ligarmatic in the daily time frame, indicating more landmarks in the short term.
Since March 10, the bitcoin price has been a downward pattern. Moreover, the BTC price has already confirmed Macro’s reflection pattern after the reversal of the neck line from top to top, which was associated with a declining difference of the RSI.
In the short term, the price of bitcoin is likely to decrease by another 10 percent to re -test the support level of about 78 thousand dollars. If the Bitcoin buyer fails to defend the level of support for 78 thousand dollars, more selling will be about $ 74,000.
Short -term landmarks will be nullified if the bitcoin price is constantly closed over the Logareti daily direction line.
Bitcoin whales focused on long -term growth
According to data analysis on the chain, whale investors accumulate more bitcoin in the past few days, regardless of the short -term view. As said Coinpedia, IBIT has led Blackrock from Ptc BTC ETF exporters at renewable cash flows over the past few days.
On Thursday, exporters in the United States BTC ETF recorded a net cash flow of about $ 165 million, as the majority of Ibit came about $ 172 million. BitWise Bitb recorded a net cash flow of about $ 17 million.
However, the Bitcoin Sot investment funds in the United States are about to end the largest five -week losing chain if the day’s flow ends positively. It should be noted that the investment funds circulated in the United States in the United States have recorded a total cumulative flow of about 35.9 billion dollars, and thus currently maintains a total net assets of $ 94.4 billion.
