Bitcoin takes a bullish position at 77 thousand dollars: Is the price increase to 82 thousand dollars after that?
Since fears of the high customs tariffs in the global markets cause panic everywhere, Bitcoin is struggling to adhere to it. Currently, Bitcoin is traded at a market price of $ 77,574, and registered during the day by 1.75 %.
This represents a significant upward transformation from a 24 -hour minimum at $ 74,565. Moreover, it highlights the upholstery of the upholstery against diving by 3.57 % yesterday. Will this short -term recovery return to Bitcoin to $ 82,000? Let’s discover.
Bitcoin price analysis
In the daily graph, the BTC price is offered a falling sorry style. Currently, the bitcoin price is struggling to bounce the local support line.
Moreover, it alludes to a potential dual -bottom of 76600 dollars. Supporting upward opportunities, the daily RSI line reflects an upward difference.
However, the prevailing fall is likely to the intersection of the death between the SIS -moving average lines for 50 and 200 days. This will operate a sale warning for labor traders.
Moreover, it will reflect the strength of the medium term, and overcome the long -term direction. Based on Fibonacci levels, it is likely to challenge the potential recovery within the falling pattern of falling 23.60 % at 82,705 dollars.
This highlights the potential of the upward trend about 7 %. On the other hand, a breach is likely to be tested below the local trend line level of $ 70,000.
BTC ETFS recorded 326 million dollars in the external flow in the trade war
While Bitcoin stands at a crossroads of potential upward recovery, it lacks institutional support. On April 8, The Daily Total Net flow The investment funds circulated in the United States, Bitcoin, amounted to $ 326 million.
The majority of the external flows of Blackrock came, with $ 252.90 million, followed by BitWise at 21.71 million dollars. Among the tenth circulating investment funds, five zero net flows recorded, while the rest of the traded investment funds maintained an external flow less than $ 20 million.
Bitcoin futures are similar
Over the past 12 hours, with the recent recovery, the upscale feelings in the Bitcoin Derivative Market have increased significantly. Based on the Bitcoin ratio scheme for a long time CoinglassLong positions increased from 49.37 % to approximately 52 %.
This enhances a long to short ratio closer to 1.10, with highlighting the increasing upward effect. Moreover, 24 -hour volume increased by 5 % to 75.45 billion dollars, while the short size remains at 76.45 billion dollars.
