BTC/USD Probes Critical Trend Support | Crypto Craft

  • BTC/USD Probes Critical Trend Support

    From dailyfx.com

    Bitcoin has been stumbling lower since BTC/USD notched a fresh record high above the $60,000-price level earlier this month. The popular cryptocurrency stretched another -2% lower today even in spite of Elon Musk tweeting you can now buy a Tesla with Bitcoin. It appears that BTC/USD price action has been under pressure largely in response to broad-based US Dollar strength. Bitcoin selling pressure over recent sessions has steered BTC/USD lower to test critical trend support. This trendline is extended through the major year-to-date swing lows notched on 27 January and 28 February. chart A break of this ascending ... (full story)

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Marcellus8610
Mar 25, 2021 5:24am
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EMA 200 for H4 is about $50400, EMA 100 has been already crossed at $54000. Anyway, the growth of bitcoin above 100k is inevitable, due to the fact that investors are losing faith in the dollar. So even if it drops to the bottom $25000, it will only fuel the interest of those who haven't bought yet. And the bulls will go to accelerate again.
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