More and more companies are incorporating bitcoin into their cash, but this strategy could turn against them. According to Geoffrey Kendrick (Standard Charterd), if the BTC falls under $ 90,000, some companies could be in danger. But for the moment, the Bitcoin course is exchanged beyond $ 100,000, and a new increase towards the historic summit at $ 112,000 is possible. Especially since, according to a technical indicator, the price of Bitcoin is still far from having reached a level of overheating comparable to the previous cycles. We enter the details in the bulletin of the day!
Buyers and sellers neutralize around $ 105,000
For several days, the course of Bitcoin Oscil around $ 105,000. BTC Stagne over the last 24 hoursbut he Fall of almost 3 % in a week. Despite the slight decline on last week, the king of cryptos is up more than 10 % over the last month ::
| Pair | 1h | 24h | 7d | 1m | 3m | 6m |
|---|---|---|---|---|---|---|
 BTC/ETH |
0.11% | -0.25% | 2.10% | -23.33% | -1.14% | 60.97% |
 BTC/USDT |
-0.55% | -0.70% | -2.90% | 10.83% | 19.81% | 5.37% |
Bitcoin performance in the face of different pairs. Source : Coincheckup
The BTC/ETH pair is up 2 % in one weekbut she fell 23 % in a month and more than1 % in three months. Despite the feverishness displayed over the last three months, it climbs more than 60 % in six months.
Bitcoin’s course is still not overheating
There Mobile average at 200 periods in weekly is widely used by traders on traditional active ingredients. And this mobile average is working relatively well on the Bitcoin. Indeed, since 2012, we note that the Bear Markets tend to end around the Mobile average over 200 weeks (purple) :
The above indicator is not only used to identify areas where bitcoin is undervalued. Indeed, the indicator created by Plan B also makes it possible to know whether the Bitcoin is overheating. For this, he calculates theMonthly evolution as a percentage of the purple curve. The higher the increase, so the more upward volatility, the more the indicator displays warm colors (orange, red).
However, even if Bitcoin has exceeded $ 110,000 During this cycle, metric is always in the blue. If the price of bitcoin continues to behave like the previous cycles, it could climb up.
The price of the BTC falls towards the support at $ 102,000
Since the top recorded around $ 112,000the price of bitcoin has fell by more than 7 %. Also, the course continues to block against Resistance at $ 106,000 ::
The course is falling Under the mobile averages 9 and 18and he heads for the Support at $ 102,000. To avoid this new drop, you will have to break the Resistance at $ 106,000. In parallel, the RSI rebounds For a few days, but it remains generally down -oriented For several weeks. THE Momentum is therefore to the advantage of the Bears in 4 hours.
According to the technical indicator which is built from the mobile average over 200 weeks, the price of Bitcoin is still far from having reached an excess equivalent to the previous cycles. But to be able to continue to climb, the course will have to resume the level at $ 106,000 as a support. Good news for Bitcoin, the dollar continues to be fragile.
Bitcoin news that counts
- Trump Media submitted a second file to the SEC to launch a new Bitcoin ETF, in partnership with Yorkville America Digital and Crypto.com.