US President Donald Trump’s explanations for trade tariffs caused fluctuations in the crypto currency market as well as in global markets, while investors’ eyes have been turned into technical analysis data. Market participants looking for a more robust ground against the noise in the news stream carefully examine the formations in price graphics. The binary bottom formation on the Bitcoin side has strengthened the expectations of rise. Observation of similar movements in other large crypto currencies indicates that the effect of this technical signal may spread.
Binary Bottom Formation of Bitcoin graph became apparent
The double foot formation, which attracts attention in Bitcoin’s short -term graphics, is considered as a powerful turn signal in terms of technical analysis. Between 7 April and 9 April, the BTC, which made a bottom twice around 74,600 dollars, reached 80,800 dollars with the recovery and then exceeding this level and managed to break the neckline of the formation. This movement means that the technical formation is confirmed, while the attention of investors attracted the potential target levels.
For Bitcoin, who is currently traded at the level of $ 82,000, technical analysis experts say that the target of $ 87,000 is possible by reflecting the distance between the neckline and the bottom points to the price graph. However, the same experts warn that this promotion scenario may become invalid if the price again fell below $ 75,000. For this reason, the cautious approach is maintained despite the optimistic picture provided by the formation.
Other crypto currencies also have mobility
The technical formation in Bitcoin seems to have created positive reflections in other large crypto currencies. Especially the “Positive External Day” candle formation, which occurs in the daily graph, shows that the procurement pressure in the market has increased. In this formation, it is seen that all negative price movements of the previous day are covered and replaced by a green candle. This suggests that the buyer puts its weight on the market and that the general feeling is healed.
Among the crypto currencies led by the rise, Dogge attracted attention with his popularity with payment -oriented XRP. The XRP gained 14.3 percent, while Dge made a 12.7 percent rise. These increases reveal that Bitcoin’s technical analysis signals may be strong enough to affect the general of the market. Market participants maintain their cautious stance despite this positive atmosphere.
Bitcoin’s acceleration with the formation can also have a splashing effect on other parities. However, sudden fluctuations in short -term movements may be effective enough to overshadow the rise signals. For this reason, market data analysis and graphic tracking have become more important for investors than ever before.
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.
