While the volatility continues in the crypto currency market, Bitcoin approaches an important technical level. Latest data show that the leading crypto currency can give a strong rise signal.
A new analysis has arrived for Bitcoin price
Matrixport, one of the leading analysis platforms of the crypto currency market, said that Bitcoin approached an important breaking point by publishing daily graphical analysis. According to the analysis, Bitcoin is about to overcome the trend line that has long suppressed price movements. This trend line has been under pressure from the market since the market of Trump’s presidential sales wave. According to technical analyzes, Bitcoin’s breaking this critical level may trigger a wider rise movement in the market.
Currently, Bitcoin is generally considered to be a “high -level tight flag formation olan, which is generally considered as the continuation of the rise in technical analysis. This formation is considered as a powerful technical signal that shows that the rise tendency in the market can continue. Such formations can be a harbinger that the price will take up the upward movement again after a certain consolidation period. If this formation works as expected, the price of Bitcoin can climb higher levels.
What do technical levels point to?
Currently, Bitcoin is the first decline in the trend line (white line) and tests a more important level of resistance (gray line). If this level of resistance is successfully broken, an important upward signal will emerge for the market. Technical analysis experts say that if this level is broken, Bitcoin may enter a new wave of ascension. Otherwise, the price may enter the decline trend and the horizontal movement may continue. However, the latest indicators indicate that an upward movement is more likely.
In addition, the Pigeon attitude of the US Federal Bank (FED) at the last FOMC meeting is a positive environment for the market. Fed’s more moderate approach to interest policies increases the risk appetite of investors, while technical indicators support this change. The increase in liquidity in global markets can increase the interest in alternative assets such as Bitcoin. This may allow the price to make stronger movements in the coming period.
Analysts say that investors should closely follow these technical and macroeconomic factors. Bitcoin’s price movements continue to be critical in terms of determining the general aspect of the market. For this reason, it is recommended that investors make strategic moves carefully by carefully monitoring both technical and basic indicators. In the coming days, whether Bitcoin can break critical levels will be one of the most important developments that will determine the general aspect of the market.
