Since the beginning of this year, the Bitcoin market has witnessed a decrease of 10.64 %. Although at some point in January, the market touched the highest new level ever at 109,586.27 dollars, the monthly revenue for this month was only 9.54 %. In February, the returns fell sharply to -17.5 %, and perhaps due to the economic uncertainty resulting from the Trump’s aggressive plan. In March, the BTC Market scenario improved a little, as its monthly returns grew to -2.19.
Since the beginning of this month, the market increased by 1.30 %. Interestingly, the market yesterday made a strong attempt to fracture over two main technical levels, a declining sloping resistance and a 200 -day moving average. Experts suggest that if Bitcoin is closed above both main levels, this may lead to a strong upward gathering, which represents the end of the current declining direction.
Bitcoin re -testing critical levels: What happens?
Yesterday, at one point, Bitcoin market reached 88,513.25 dollars. However, at the time of the closure, the price decreased to 82,530.38 dollars, creating a long landing candlestick.
The EMA index sits for 200 days in the daily Bitcoin graph at 85,417.58 dollars -2.23 % of the instant price.
The descending resistance has almost touched the EMA level for 200 days in the BTC daily scheme.
This means that if the market raises about 2.23 %, it may be broken over these two decisive levels.
Today, the market has grown so far about 1.36 %.
- Also read:
- Why the encryption market has decreased today? Expert visions about market fluctuations
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Possible scenarios: collapse or rejection?
Experts expect that if Bitcoin is closed over both of these two main levels, this may lead to a bullish gathering in the market.
Meanwhile, they also warn that if BTC fails to penetrate the two important levels, the current decline in the market may continue.
What the merchants should see after that
Experts tell that since economic certainty is fading, investors, who left Bitcoin, will return to safer options such as gold due to fear, to the market.
If the market exceeds each of the main levels with support, this will confirm the return of the upward pressure in the market.
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Common questions
Perhaps the economic uncertainty of Trump’s tariff led to a decrease in BTC -17.5 % in February, as investors sought safe assets.
Experts say that the economic uncertainty may lead investors to BTC, but breaking the resistance is essential to the upward trend.
According to the PTC price forecast in Coinpedia, the BTC’s height can reach $ 169,046 this year if the upcoming feelings persist.
