HomeBitcoinBitcoin: A strong positive signal is in progress as BTC recovers to...

Bitcoin: A strong positive signal is in progress as BTC recovers to $20K.


The market’s most significant cryptocurrency, Bitcoin, showed signs of life on Tuesday after stabilizing in a constrained range for many days. At the time this article was being written, Bitcoin was trying to break back over the significant psychological barrier of $20,000 in price.

Indeed, Tuesday’s financial markets are being driven by a certain resurgence of risk appetite. According to some analysts, investors are starting to question whether central banks will continue to be aggressive in their fight against inflation because the risks to financial stability are growing, risks that have been brought to light by worries about Credit Suisse (SIX:CSGN) since yesterday.

However, due in part to a more positive market attitude, Bitcoin is now currently testing a capital chart level in addition to a psychologically significant threshold.

In fact, the long-term downtrend line that starts from the high in November 2021 is being tested by BTC/USD, which may be the beginning of a bottom-up positive turnaround.

The 100-day moving average, which is now around $21,133, is the next obstacle that must be overcome for Bitcoin to validate its bullish potential. Then, before the $25,000 region, just a few chart resistances may be seen. Traders might then set their sights on the 200-day moving average, which is now at $27,830 and is ahead of the $30,000 mark.

In addition to the psychological ceilings, the first key chart support will be the BTC/USD annual low at $17,600.

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