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In the midst of market volatility, Bitcoin (BTC) has not been able to recover the area from $ 85,000 to $ 86,000 despite its weekly performance. However, some analysts suggest that a rupture of the key resistance level could be at the corner of the street.
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Bitcoin to resume his Haussier rally?
During last week, Bitcoin has negotiated Between the price range from $ 83,000 to $ 86,000, recovering from the correction of less than $ 80,000 at the beginning of the month. In particular, the flagship crypto experienced significant volatility last week due to the war of current commercial prices between the United States and dozens of countries.
The recent resumption of the BTC began after US President Donald Trump interrupted the price on more than 75 countries for 90 days, which returned the BTC price above the $ 80,000 mark. In the midst of volatility, Bitcoin retested the $ 78,500 keys as a medium and its resistance to the downward trend of four months, compression Between these two levels.
According to the Daan Crypto Trades market supervisor, Bitcoin has moved to an important area, because it reached its downward trend line as well as the daily exponential mobile average (EMA) and the mobile average (MA), which “has been a price region difficult to break in recent weeks”.
In the middle of the pump on Thursday, the BTC finally comes out of its downward trend, which could lead to an increase in the “ultimate level to break for the Bulls”, the barrier from $ 90,000 to $ 91,000, because it suggested that the lateral movement in the region of $ 80,000 will not continue much longer.
Nevertheless, the merchant consider That the next few days may not have significant oscillations due to the Easter weekend, with low volumes and expected liquidity. “It will probably be quite boring absent from new major titles,” he said, adding that “we will see where it wants to go next week.”
BTC key levels to recover
Altcryptogems Sjuul analyst sharp Bitcoin is trapped below the 50 -day EMA, which is “which separated us from a resumption of Bull Run”.
He explained that cryptocurrency has moved between $ 78,000 and $ 95,000 since March, the 50 EMA coinciding with the price range of the price range and apparently acting as resistance last week.
The mid-range release, between $ 85,000 and $ 86,000, could send the BTC price above the $ 90,000 mark and to the top of the range.
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According to the post, the current Bitcoin price action looks like the performance of May 2021, before the Bull Run resumed. At the time, BTC recovered the 50 EMA on the daily graphic, which “at the moment, just like at the time, (…) was the line in the sand between the bull and bear markets”.
The analyst explained that the purchase of strengths pressure is necessary to break this resistance and take up the BTC rally. “If we finally have this pressure purchase pressure, and if we finally see EMA 50 daily being returned, all you want then is that this liquidity wall at $ 87,000 is properly broken,” he concluded.
To date, Bitcoin is negotiated at $ 84,521, an increase of 1.2% of the weekly period.
Star image of Unsplash.com, tradingView.com graphic
