Over the past trading week, Bitcoin (BTC) failed to make any significant price breakout, experiencing rejections at the $86,000 price region. While the market suffered no major price pullback, the high level of sideways price movement indicates a strong investor uncertainty. Interestingly, popular market analyst with X username Daan Crypto has provided an insightful technical analysis on the BTC market, highlighting the present barriers that are restricting an upward price movement. Related Reading: Bitcoin In Peril? Expert Warns Of China’s Alleged Scheme To Crash BTC To $40,000 Bitcoin Multiple Barriers: 200-Day EMA, 200-Day MA, And Diagonal Trendline In Focus Since hitting a new all-time high in late January, Bitcoin has slipped into heavy correction, losing over 22% of its market price. The majority of the price loss has been linked to international trade tariff crises, which have forced investors to seek relief in less risky assets. However, a pause in new tariffs and an onset in global negotiations soon accompanied a price rebound seen in early April. Albeit, Bitcoin is now struggling to break out of the $84,000-$ ..
Support the originator by clicking the read the rest link below.
