ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

BTC Sustains Impulsive Wave Ahead of Bitcoin Halving

Share On Facebook
share on Linkedin
Print

Bitcoin (BTC) continues its impressive ascent as the highly anticipated Bitcoin Halving event approaches. Despite a brief deviation on March 6th, characterized by a bearish day within the overarching uptrend, the BTC price swiftly regained momentum. Notably, the daily candle exhibited a widened range compared to the preceding days, signalling heightened volatility in the market.

©

 

A temporary dip in price was observed, facilitating efficient market delivery, before BTC swiftly rebounded and surged past the crucial swing high of $71724.0.

BTC Sustains Impulsive Wave Ahead of Bitcoin HalvingBitcoin Key Levels

  • Demand Levels: $59300, $50500, $38500
  • Supply Levels: $80000, $90000, $100000

Indicators Analysis

The Smoothed Heikin Ashi indicator paints a vivid picture of a robust uptrend with no discernible signs of impending reversal. Meanwhile, the Average Directional Index (ADX) stands at a formidable 55, underscoring the strength of the prevailing trend.

Looking Forward: With BTC breaching the $70000 threshold, market sentiment suggests a continued rally towards the next significant institutional level at $80000. As investors anticipate the forthcoming Bitcoin Halving event, which historically correlates with increased scarcity and upward price pressure, the bullish momentum is expected to persist in the near term.

In conclusion, BTC’s sustained impulsive wave reflects growing investor confidence and optimism as the cryptocurrency ecosystem braces for a significant milestone. While short-term fluctuations may occur, the broader trend remains firmly bullish, with potential for further upside as institutional interest intensifies and supply dynamics evolve.

Learn from market wizards: Books to take your trading to the next level

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com