Bitcoin fell below $ 40,000 on March 4 and has since traded below this significant price range. It has not yet been recovered.
Of course, while Bitcoin price action analysis has left us with little hope, Glassnode's On-Chain data indicates heavy corporate acquisitions. Corporate heavy purchases are one of the most important price indicators in the digital currency market.
Grayscale Bitcoin Trust (GBTC) is one fund that attracts large investors. It is noteworthy that the fund's shareholders have retained their assets with the recent downturns, so their outlook for the future of this market is likely to be bullish.
In a review of the digital currency market published by Bloomberg Intelligence on March 4, citing US stock market declines, it believes that bitcoin is likely to remain below $ 40,000 for some time, as well as if the US stock market Recovery Bitcoin (as in previous years) is expected to experience significant growth.
Bitcoin broke below the Moving Average on March 4, a sign that the trend is falling into the hands of bears. The Bulls tried to support the price on March 5 and 6, But they failed!
If the price stabilizes below the moving average, the bears will try again to make more drops on the bitcoin, and the next destination of bitcoin will probably be the bottom of the bullish channel. This area is a great support area for the re-entry of cows and price support. If Bitcoin is recovered from the bottom of this channel, it can stay in it for a few more days.
Of course, my analysis will be invalidated if the price recovers from the current range. If the price of Bitcoin returns above the $ 40,500 range, the 20-day moving average (EMA) has broken up. In this range, cows can push the price to the current channel ceiling. If the floor or top of the channel is broken, A new downtrend or uptrend will begin.
The global market is still moving downside, and there is no news that can provide some fuel in the market. Global assets are continuously dropping. So stay safe and trade cautiously.
⚠️ In digital currency trading, many factors affect the value and price of bitcoin; Before trading and trading, it is recommended that dear investors have enough knowledge and mastery so that when you enter the digital currency market, you can make the best decisions and ultimately make a profit.
Of course, while Bitcoin price action analysis has left us with little hope, Glassnode's On-Chain data indicates heavy corporate acquisitions. Corporate heavy purchases are one of the most important price indicators in the digital currency market.
Grayscale Bitcoin Trust (GBTC) is one fund that attracts large investors. It is noteworthy that the fund's shareholders have retained their assets with the recent downturns, so their outlook for the future of this market is likely to be bullish.
In a review of the digital currency market published by Bloomberg Intelligence on March 4, citing US stock market declines, it believes that bitcoin is likely to remain below $ 40,000 for some time, as well as if the US stock market Recovery Bitcoin (as in previous years) is expected to experience significant growth.
Bitcoin broke below the Moving Average on March 4, a sign that the trend is falling into the hands of bears. The Bulls tried to support the price on March 5 and 6, But they failed!
If the price stabilizes below the moving average, the bears will try again to make more drops on the bitcoin, and the next destination of bitcoin will probably be the bottom of the bullish channel. This area is a great support area for the re-entry of cows and price support. If Bitcoin is recovered from the bottom of this channel, it can stay in it for a few more days.
Of course, my analysis will be invalidated if the price recovers from the current range. If the price of Bitcoin returns above the $ 40,500 range, the 20-day moving average (EMA) has broken up. In this range, cows can push the price to the current channel ceiling. If the floor or top of the channel is broken, A new downtrend or uptrend will begin.
The global market is still moving downside, and there is no news that can provide some fuel in the market. Global assets are continuously dropping. So stay safe and trade cautiously.
⚠️ In digital currency trading, many factors affect the value and price of bitcoin; Before trading and trading, it is recommended that dear investors have enough knowledge and mastery so that when you enter the digital currency market, you can make the best decisions and ultimately make a profit.
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