Swissblock said Bitcoin may experience a short -term decline after re -capturing the $ 90,000 level. The company emphasized that Bitcoin was traded at $ 93,312, while it can make a correction of approximately $ 89,000-90,000 before the rise.
Bitcoin price estimation
According to Swissblock, $ 94,000-95,000 is an important resistance point to be overcome. Analyst said that the decline could be a logical level in case of difficulty over these levels.
Swissblock: “94,000-95,000 dollars is the resistance that needs to be overcome. Momentum is expected to withdraw. The $ 89,000-90.000 dollar range can test its bull power; it offers the opportunity to purchase in terms of structural power.”
After the rise in the price of Bitcoin, it was observed that the purchases of Spot Bitcoin based stock market investment funds increased. Investors, especially with the influence of corporate purchases, said that there is mobility in the market.
Swissblock: “Everyone thinks positively with Bitcoin’s output for $ 94,000. Corporate investors drew attention by making 17,000 BTC purchases on April 22. This movement may be the beginning of the increasing wave of purchase.”
Bitcoin Comment
Swissblock said he closely follows the situation on Bitcoin Fundamental Index (BFI). Swissblock said that BFI’s loss of power may indicate the sustainability of the upward movement and it is important to strengthen this indicator.
Swissblock: “The BFI is weakening. The upward movement does not seem sustainable.
According to analyzes, Bitcoin must maintain a support point of $ 83,000 in order to maintain a strong bull trend. When it is descended below the support zone, it is foreseen that decline pressure may increase.
The above -mentioned analyzes point to the important points that investors and market followers should consider. Observations show that changes in technical levels and indicators may be reflected on the market.
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.
