Bitcoin hits the resistance of 84 thousand dollars, but analysts show the similarities of 2020

Bitcoin (BTC) failed to restore $ 84,000 resistance again and decreased by 4 % to test another decisive support zone. Some analysts suggested that the encoded currency march be determined through its weekly closure, which may witness BTC’s failure or ascend to new levels.

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Bitcoin hits 84,000 dollars a wall again

After losing 84,000 to $ 86,000 on Sunday, Bitcoin failed to restore this level. The main encryption recovered more than 11 % last week, as it briefly decreased to the lowest level in 4 months of $ 76600 on Monday.

Since then, the BTC price has been intersted between $ 84,000 to 84,000 dollars, and has failed to break the upper area of ​​the domain during the past four days. Crusion analyst generation male This level of resistance was a major level throughout the first half of March.

It is worth noting that the mark of $ 84,000 was a level that bounces important during the month starting and correcting pump, and “the restoration of this will happen all the difference in how the rest of the month is going.”

Bitcoin tried to restore this level during the past 24 hours, and climb to 83,900 dollars on Thursday morning. For analyst, you can pay a recovery of $ 84,000 the price to the post -election outbreak, and things will become “real interesting”.

Ali Martinez pointed out that the largest barrier to the Bitcoin is located in a range of $ 95,000, as it bought 1.2 million investors 726,000 BTC.

He also pointed out that the largest cryptocurrency according to the market value is combined into an ascending triangle, which may lead to an increase of 9 % to 90,000 dollars if more than $ 84,000 erupted.

However, BTC failed to restore this main resistance and recover it to the $ 80,000 support zone. Jill warned that “the bulls need to defend the current area, or may follow these seventies again.”

Is the BTC cycle higher or bottom?

TED Bidows suggested that BTC is ready for another leg because the price movement is similar to previous offers. He highlighted that Bitcoin has held the rising support line as in 2017 and 2020, which “shows that the course has not ended.”

Based on this historical performance, the analyst considers that the cryptocurrency can lead to a re -test of support between 72,000 and 74,000 dollars before the local bottom is in. “After that, there will be some monotheism followed by the next stage.”

Trader Titan of Crypto Duplicate In a possible reflection as BTC “shows signs on the bottom on the weekly chart” with the RSI index (RSI) as support, RSI’s reflux in enjoyment, and price in the lower Bollinger Band. He also pointed out that BTC price procedures are similar to the market structure of 2020 before a great outbreak.

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Meanwhile, analyst Nebraskangooneer Assure Bitcoin was “historically predicted”, indicating that the weekly distance will be the key to the next step. According to The Post, if BTC closes the week of less than $ 67,250, it is likely to indicate that the market has already reached the summit, as it will become a distribution range.

The analyst explained that the cryptocurrency has respected the levels of “distribution, accumulation and immediate reflection” in every BTC market. If the Bitcoin remains “predictable historically”, the cryptocurrency may decrease to levels that have not been seen since late 2023 and early 2024.

As of the writing of these lines, BTC is trading at $ 80,810, a decrease of 3.4 % in the daily time frame.

Distinctive photo of Unsplash.com, Chart from Tradingview.com