The ongoing U.S. operation against crypto firms might have a devastating impact on the rise of BTC, claims a provider of quantitative Bitcoin algorithms. The king coin has shown to be impervious to the majority of unfavorable news since the year’s beginning, but as a new quarter of the year begins, investors’ attitudes may have changed.
It’s important to remember that miners are currently confronting regulatory hurdles, particularly from U.S. authorities. However, Bitcoin’s growth this quarter may be hampered by the difficulties it faces with regulators and traditional financial issues. As the price consolidates below the psychological level of $30000, investors are currently taking their time to make a decision.
Key BTC Levels To Watch – April 2
Following the tap into the Fair Value Gap (FVG) below the $21478.0 price level, the price surged rapidly to the upside. The market’s order flow has been bullish until the recent convergence into the consolidation phase.
According to the Stochastic Oscillator, the market is in an overbought state. Additionally, the price has formed higher highs in contrast to the lower highs formed by the Stochastic Oscillator. This implies a bearish divergence in favor of bitcoin’s sellers.
Bitcoin Key Levels
Resistance Levels: $32384.0, $34322.0, $37401.0
Support Levels: $25215.0, $21478.0, $18385.0
Total Market Capitalization: $1.17T
Bitcoin Market Capitalization: $0.54T
Bitcoin Volume: $10.76B
Market Rank: #1
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