- summary:
- Bitcoin price faces resistance at the mark of 85 thousand dollars, but it needs to turn this mark to the level of support to build stronger traction.
Bitcoin Price has re -tested 85 thousand dollars during the past three days in a row, which raises the hope that the reflection will be in business. BTCUSD increased by 0.9 % and traded at 84,524 dollars at the time of the press, which reaches 7.8 % weekly. The currency RSI reading is located on 52 on the daily chart, adding credibility to the potential continuing of the upscale work. However, the simple moving average for 10 days (SMA) is still less than 20, 50 and 100 SMA, confirming possible small gains in the near direction.
US President Donald Trump will meet with his al -Salvadorian counterpart Nayeb, a White House of Bouach, where Bitcoin can appear prominently. Bukele is a supporter of the famous Bitcoin company and led El Salvador to adopt Bitcoin as a legal tendency in September 2021. It is possible that his meeting with Trump, a supporter of another encryption, will be pumped with a new volatility in the bitcoin price.
Meanwhile, the CEO of Strategy Michael Saylor has alluded to more bitcoin purchases despite the last market turmoil. By publishing social media, Sailor stated that “Bitcoin is flourishing in chaos” and shared a plan that explains how Bitcoin proved its status as a valuable store and was seen that the company remains profitable even at the height of the World Trade War.
However, the institutional confidence in high -risk assets has not yet returned to the recent market disturbances. Although BTC prices have risen in recent days, the Bitcoin Spot investment funds have recorded a net $ 730 million per week from April 7 to 11. It is likely to return to the institutional purchase this week as it fears the commercial tariff from the melting of the ice. This can help bitcoin to stay in the upward trend and may turn the level of $ 85,000 in support.
Bitcoin prediction
PIVOT: Bitcoin Axis sign is $ 83,810, and the procedure above this level will prefer to the upper direction. Otherwise, sellers can control.
Resistance: The initial resistance is likely to be $ 85,810. However, the expanded control by buyers will show this barrier and test 87,375 dollars.
Support: The first support is likely to be $ 82,170. The collapse under this level will nullify the bullish direction. The second support can come at 80,585 dollars.
