The biggest crypto currency Bitcoin (BTC) $85,190.76He finally made this biggest price movement from the beginning of the year. The 200 -day exponential moving average (EMA) level, which corresponds to approximately 84 thousand 600 dollars that could not be overcome for a long time, was exceeded. The price is now trying to hold on this threshold. This development points to a possible change in market sensitivity. However, there is another obstacle to be overcome for the finalization of the upward trend in the biggest crypto currency.
What does it mean to exceed 200 EMA in Bitcoin price?
Bitcoin made a strong rise after weak price movements that have been going on for weeks. With this rise, working as resistance for a long time 200 days EMA The level has been strong. This level of level decrease, which is accepted as an important threshold in technical analysis, means the upward frustration of the markets in the trend. This development caused hopes to re -flourish among investors.
200 Break of EMA can be considered as a harbinger of a potential transformation in market sensitivity. This level was a powerful resistance point that had previously pulled the price down. Now, Bitcoin has overcome this obstacle for a short time and is trying to hold on. However, whether this break will be sustainable or not in the coming days will be confirmed by daily candle closing.
The fate of the rise is connected to both 200 EMA and 26 EMA
Despite the upward movement of Bitcoin, there is still a serious technical level that must be exceeded: 85 thousand 400 dollars 26 -day EMA. This level stands out as the next important resistance. Largest crypto currencyIf the threshold cannot pass this threshold, the previous gains can be deleted quickly. In other words, it is not enough to break only 200 EMA for the permanence of the rise.
On the other hand, another detail that made this last rise remarkable was the sudden increase in the process volume. Price movements, usually with low volume, indicate that market participants have weak interest. However, this time the volume increased with the price. This means that buyers are more powerful in the market. If Bitcoin 200 EMA finds permanence and 26 EMA If it manages to break its level, a stronger rally may increase.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
