Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Morbi Pretium Leo and Nisl Aliquam Mollis. Quisque Arcu Lorem, quis pellentesque nec, ultlamcorper eu odio.
Este Artículo También is respondable in Español.
Bitcoin (BTC) jumped 14.6% in the past two weeks, from $ 84,500 on April 18 to the range of $ 90,000 at the time of the editorial staff. With this ascending dynamic, the main cryptocurrency seems to aim for a new summit of all time (ATH), because several technical indicators and Momentum suggest an increasing upward trend.
RSI monthly Stochastic Bitcoin becoming Haussier
In a recent article on X, Crypto Crypto Titan analyst shared a monthly BTC graphic indicating that the stochastic relative force index (RSI) is on the point of a bull.
For the uninitiated, a Stochastic Crossover RSI signals signals increased upwards and is often interpreted as a potential purchase signal or the start of a potential rally. Titan of Crypto added that if he was confirmed, the bullish crossover could launch the next step in the BTC.
Related reading
For example, the analyst referred to the action of the BTC prices on the monthly back graph in the third quarter of 2021. At the time, a similar bruise crossing in the Stochastic RSI preceded an increase of 56.9% of the Bitcoin price.
However, Bitcoin must maintain crucial support levels to maintain this upward structure. In a separate post, renowned analyst Ali Martinez noted that the BTC could be tested the $ 95,700 support area before progressing to the $ 100,000 milestone.
On the resistance side, Martinez stressed that $ 97,530 remain a “key level to monitor”. A successful eruption Beyond this threshold could open the way to the BTC to revisit or exceed its previous ATH. In the current state of things, Bitcoin is negotiated at around 10% below its record.
Analysts predict the next BTC movement
Rekt Capital of Crypto analyst has also weighed on the BTC potential path. In a post X published yesterday, he suggested that once the BTC has decisively perceived the area from $ 97,000 to $ 99,000, it could face rejection nearly $ 104,500. Following this, the holding of the range from $ 97,000 to $ 99,000 as a medium would be essential for the BTC to start towards new heights.
Related reading
Likewise, analyst TED noted that BTC is currently negotiating in an accumulation phase of Wyckoff. The analyst added that the BTC slide below $ 76,000 in early April was probably the bottom for this market cycle. He added:
Looking at the Wyckoff accumulation model, it seems that the level of $ 96,000 to $ 99 could act as resistance. I think BTC could consolidate here for a few days, before finally breaking up.
Despite the bullish momentum, certain concerns remain. Analysts caution This bitcoin is unlikely to face a real supply shock in the immediate future, which could temperate the upward potential. At the time of the press, BTC is traded at $ 97,142, up 0.9% in the last 24 hours.
Star image created with UNCLASH, graphics from X and tradingView.com
