Bitcoin (BTCUSD) e hloleha ho otla nako e ncha ka nako eohle

Azeez Mustapha

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BTCUSD Fails To Reach Its New ATH

BTCUSD fails to overcome the challenges of surpassing its newly established all-time high. By mid-March, Bitcoin had broken previous records to achieve a remarkable price milestone. However, a decline was anticipated after the achievement, leading the coin’s value to recede to $60,675. While the bulls tried to recover, sellers equally intensified their influence on the market.

Maemo a bohlokoa a BTCUSD

Maemo a Phepelo: $ 75,000, $ 73,000
Maemo a Tlhokahalo: $69,000, 64,000

COINBASE:BTCUSD Chate Setšoantšo ka michaelfaniyi42

Upon surpassing the significant level of $69,000, Bitcoin encountered resistance. This resulted in approximately a week of sideways trading and consolidation above this level, reflecting the ongoing battle between buyers and sellers. Ultimately, sellers gained momentum, pushing Bitcoin downward to approximately $64,000.

During the consolidation phase above $69,000, the Elders Force Index (EFI) approached equilibrium, signalling the diminished strength of buyers during this period. On the daily chart, the price’s descent below the $69,000 threshold coincided with trading beneath the 20-day Moving Average (MA).

COINBASE:BTCUSD Chate Setšoantšo ka michaelfaniyi42

Similar patterns observed on the daily timeframe are mirrored on the 4-hour chart. The price continues to trade below the 20-day MA, and the EFI indicator initially hovers around equilibrium before declining below it. The $64,000 level represents crucial support, which buyers could utilize to regain lost ground. Presently, Bitcoin aims to rally and reclaim the $69,000 threshold.

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Azeez Mustapha

Azeez Mustapha ke setsebi sa khoebo, mohlahlobi oa lichelete, leano la lipontšo, le molaoli oa lichelete ea nang le boiphihlelo bo fetang lilemo tse leshome lebaleng la lichelete. Joaloka blogger le sengoli sa lichelete, o thusa batseteli ho utloisisa likhopolo tse rarahaneng tsa lichelete, ho ntlafatsa tsebo ea bona ea ho tsetela le ho ithuta ho sebelisa chelete ea bona hantle.

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