Crypto Money Analyst Rekt Capital made statements about the price levels of Bitcoin in the market uncertainties. In the analysis carried out within the framework of the fluctuations created by the US President, the technical indicators gave important clues. This evaluation, which comes before the last rise of the BTC price, may be useful to see how successful the foresight is and the possible decline scenario.
Bitcoin estimates
Rect Capital evaluated that the relative power index (RSI) indicator may be effective in determining the return signals of Bitcoin price. Historical data show that RSI’s decrease in a certain lower levels reduces the real price base by 0.32 to 8.44 %. It is noted that Bitcoin is currently a second base below 2.79 %than the first low level. If this rate is repeated, the level of support may decrease to around 70,000 dollars.
“When Bitcoin’s daily RSI falls to the RSI levels below 28, it does not necessarily show that the price hit the bottom. In fact, historically, the real price bottom will be lower than -0.32 to -8.44 %lower than the price of RSI. Bitcoin is now 2.79 %of the first bottom level. He will see what he did. ” – Rekt Capital
Support and resistance levels
In the continuation of the analysis, a positive return for Bitcoin could start with the break of the resistance line of $ 78,550. This level observed in March can be considered as a new element of resistance in the future. The re -testing of this level as support can give acceleration in the direction of rise.
“Bitcoin could not re -test the $ 78.550 in March, and it is possible for these bottom levels to emerge as a new resistance in the future. In order for the price to adopt the rise tendency, it will have to take back these low levels as support and then challenge the downward trend (green).” – Rekt Capital
Analyst also pointed out the trading volume gap that occurred around 70,000 dollars in the weekly graph. This gap was interpreted as a region that can be re -tested to relieve the inefficiency of the market. Thus, Bitcoin’s current price level is expected to be re -tested at this rate.
“Bitcoin is experiencing downward continuity after moving upwards (red) on the lowest weekly levels at the beginning of March. BTC confirms this red level as a new resistance. – Rekt Capital
According to Rect Capital’s statements, careful examination of existing technical analysis tools may be useful in interpreting market trends.
Investors can take more cautious steps in risk management if they closely monitor the market by taking advantage of such analyzes. The evaluations explained may contribute to the understanding of market movements.
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.
