Bitcoin (BTC) has been trading less than $ 90,000 since March 7, struggling to restore upward momentum amid market morale.
Meanwhile, technical indicators such as Ichimoku Cloud and EMA lines indicate that the trend remains declining, although the possible reflection is not outside the table.
Bitcoin whales have reached the highest level in more than 3 months
The number of bitcoin whales – the governorates carrying at least 1000 BTC – has been steadily increasing in recent weeks. On March 22, there were 1980 titles of this, and this number has since increased to 1991.
Although the change of 11 may seem modest at first glance, it represents a meaningful increase in accumulation on a large scale, especially given that this is the largest number of BTC whales registered in more than three months.
Bitcoin whale tracking is very important because these adult pregnant women often have the ability to influence price movements due to the huge size of their locations. The increase in whale headlines can indicate a high confidence between institutional investors and high -value individuals.
When more whales accumulate instead of distributing them, they often suggest upward feelings and reduce the pressure pressure.
With the number of the current whale reaching the highest multiple level, this may mean that the important players are taking a potential upward step in the price of bitcoin.
BTC Ichimoku Cloud shows the upcoming challenges
The Ichimoku cloud diagram for Bitcoin shows the price that is less than Kijun-Sen (red line) after a strong declining step.
Tenkan-Sen remains the bottom of Kijun-Sen, indicating the short-term momentum. It tries to make the price stability, but it has not yet shown a decisive transformation in the direction.
The late period (green line) leaks without both the price and the cloud, which enhances the downward view from a historical perspective.
Kumo (Cloud) A -Express is a landing, where Senkou (the boundaries of the green cloud) is located below the Senkou Span B (the limits of the red cloud), and the same cloud that expects down.
This indicates that the general resistance and the limited bullish momentum unless the price can break the cloud decisively.
However, the gentle structure of the current cloud is hinting to the potential weakness – if the buyers enter by force, there may be a window to reverse.
But at the present time, the general setting prefers caution, as the prevailing trend remains dirty according to Ichimoku principles.
Can Bitcoin rise to a $ 88,000 test?
Bitcoin EMA lines continue to refer to the declining direction, as the short -term transmission averages are placed under the long -term lines. This alignment indicates that the declining momentum is still dominant at the present time.
However, if buyers can restore control and create an upward trend, Bitcoin price may climb towards the next main resistance levels.
The first challenge will be the resistance near $ 85124 – if broken, this path may be opened to $ 87482, and perhaps $ 88,839, assuming that the upscale momentum strengthens and maintains.
On the other hand, failure to build upward momentum would enhance the current declining structure.
In this case, Bitcoin can reconsider the support level of about $ 81,187.
The collapse without this point would increase the health of the declining direction, which may lead to a decrease in the price to $ 79,955.
Disintegration
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