Bitcoin Price Analysis!!!
Technical signs and changing economic conditions suggest that Bitcoin might be recovering. In an analysis published in March, analysts expected a bigger drop after Bitcoin fell below 95k, confirming a breakdown from its rising pattern.
However, a better economic environment and improved technical signs have created a more positive outlook. One main reason for this change is the Federal Reserve's recent policy. The FOMC meeting went as expected, and the Fed showed readiness to overlook short-term inflation concerns. Now, analysts expect rate cuts in the second half of the year, supporting a better environment for risk assets like Bitcoin.
Additionally, Donald Trump’s recent comments about the tariffs show a kinder approach than before. This change could help Bitcoin stay stable by reducing short-term worries. Despite these positive signs, Bitcoin is still facing strong resistance between 90k and 92k. 10X Research noted that until it breaks out of this range, the bigger market may stay the same. Institutional investors are also being careful ahead of important corporate earnings in April, which might affect market feelings.
As of now, Bitcoin is trading at 86k, showing a slight upward trend after recent lows. Although confirmation is needed, the MACD suggests a possible upward shift. The RSI at 51 shows Bitcoin is neither overbought nor oversold, indicating a neutral market.
However, the 100-day and 50-day moving averages suggest resistance and possible downward movement. There’s currently no clear breakout from the Ichimoku Base Line, which matches the current price.
The price is getting close to the midline according to the Bollinger Bands, which could signal a breakout or a rejection soon. If it gets rejected, support could be between 84.5k and 85k.
Meanwhile, investor sentiment seems to be getting better, as last week saw the first inflows into Bitcoin exchange-traded funds since January.#SaylorBTCPurchase #WhaleMovements #ETFWatch #SECCryptoRoundtable #VoteToDelistOnBinance $BTC