FIDELITY OrIGIN Bitcoin Fund (FBTC), ISHARES Bitcoin Trust (IBIT), and ARK 21Shares Bitcoin Etf in the spotlight this week with Bitcoin price or collapsing. This money has remained in a narrow range in the past few months as BTC has moved sideways. So, is it safe to buy or sell these boxes in Bitcoin?
Technical analysis of bitcoin prices
IBIT, ArKB and FBTC boxes follow the Bitcoin price, which means that their price procedures depend on what the currency does.
Moving to the daily graph, we see that Bitcoin was in a narrow range since November last year when he jumped to $ 108277. It formed a double pattern at this level of $ 89,200. The dual summit is one of the most descending patterns in technical analysis because it indicates that the bulls are afraid to put bets over this price.
Bitcoin moved to the 50 -day moving average, which is 97,620 dollars, while the Mac and the RSI index (RSI) has moved sideways. RSI remained slightly less than the 50 neutral level, while MACD is less than the zero line.
More importantly, bitcoin has formed a similar triangular pattern about to reach their meeting. Therefore, the currency is likely to have a big step this week that will affect the higher traded investment funds such as FBTC, IBIT and ARKB. The declining collapse will indicate the negative side, which is likely to reach 89,200 dollars, while the strong bounce will pay it to $ 108277.
The potential incentives of IBIT, FBTC and Arkb Etfs
The main motivation for IBIT, FBTC and ARKB ETFS will be news about the definitions with the end of the month. Donald Trump said he would implement a new tariff on iron and aluminum imports on the first of March. It will add a 25 % tax to these decisive elements, a step that will lead to higher enlargement because many things that are used using these minerals.
Trump also pledged 25 % fresh tariffs on imports of Mexican and Canadian goods unless the two countries agree to some major migration changes. There are opportunities to delay these definitions because immigration on the Mexican border has decreased significantly in the first few weeks of his term.
Trump is also considering mutual definitionsand A step that will match the definitions by countries. Such a move may see a higher tariff for some countries and its decrease in others.
Customs tariff has an effect on bitcoin and other encryption prices because it leads to market fluctuations and high inflation.
Another potential Bitcoin price will be the upcoming NVIDIA profits, which will affect the stock and encryption market. The possibilities are that the NVIDIA results will be higher than expected as the demand for chips is continuing. However, the weak guidance may lead to the collapse of stocks, which also affects the price of bitcoin.
The Bitcoin price will also interact with the latest BYBIT penetration and its effects on the market. The Lazaros Group, a North Korea piracy organization, succeeded in successfully penetrating and exceeding $ 1.4 billion of ETHEREUM coins. It is unclear whether the penetration and its repercussions have a major impact on bitcoin prices.
The Bitcoin price will interact with the latest strategic Bitcoin Reserves news from the United States. There are increasing possibilities that Trump will announce these reserves later this year, a step that may lead other countries to buy the currency. For example, the Czech Republic He said he wanted to spend billions of euros in buying bitcoin in the short term.
Post FBTC, Ibitc and Arkb Etfs analysis with Bitcoin approaching the main price first appeared on Invezz
