Veteran market analyst at X Handle Daan Crypto shared an interesting vision about the current Bitcoin market structure. in Modern job On May 16, Daan Crypto has provided some technical indicators for BTC investors with a highlight of potential basic developments that could affect the price of encrypted currency.
Bitcoin break on the ATH key for difficult momentum
In a major breakthrough for investors, the United States and China agreed to a 90 -day stand on the recent sharp tariffs, with the aim of canceling the escalation of the trade war looming on the horizon between the world’s largest economists. This announcement has sparked an increase in market confidence, as more than 600 billion dollars flow to global financial markets.
According to Daan Crypto, Bitcoin recorded an increase in sharp prices after this development, until it surpassed the US stock market for approximately 106,000 dollars. However, the growth of encryption asset prices has stopped since then, as it entered a bound market ranging between $ 101,000-105,000 dollars, while the stock market recorded continuous growth in prices.
With the current market price of about 103,000 dollars, Bitcoin trades a few levels lower than its height at all at $ 109,000. Daan Crypto explains that the first cryptocurrency should exceed this ATH level and enter the discovery of prices to re -discover an upward momentum of the long -term arrangement. With the exception of this development, the market expert expects that BTC will likely remain in uniting the foreseeable future.
Support area worth 90 thousand crucial for BTC Bull – Analyst
In other developments, Daan Crypto has chosen $ 90,000 as the decisive support level for the upward arrangement in the current market. The analyst stated that the decrease in this price will lead to the production of a Habboudian signal, indicating that bitcoin has decreased from its upward scope and may face a significant decrease.
It is worth noting that the price decrease is less than $ 90,000 has not happened since the BTC price was recovered in mid -April. Daan Crypto states that as long as the coded currency before marriage maintains this support area, investors can be “bullish with caution.”
However, the famous market expert also notes that Bitcoin shows a lot of weakness for the stock market compared to the past month, when its price was 20 % less to 30 % of the current market. In this current position, Bitcoin is likely to follow stock markets, which increased by 30 % -50 % last month, in the event of any potential withdrawal in prices.
At the time of the press, the leading cryptocurrency continues to trade at $ 103.509, which reflects a 0.51 % decrease in the past day.
Distinctive image from Istock, tradingvief chart
Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.
The post Analyst Identifies $90,000 As Bitcoin’s Pivotal Support first appeared on Investorempires.com.
