Investing.com – The hasn’t marked a new low since its low near $33,000 on Jan. 24, but the cryptocurrency hasn’t shown any signs of a rebound since either, posting a highly uncertain trend for nearly a month .
And the particularly heavy news in recent weeks, which was notably the occasion of the start of the war in Ukraine and the first rate hike by the Fed since 2018, did not help to clarify the context on the .
However, although the trend is unclear, chart analysis is currently providing valuable clues to the most important thresholds for Bitcoin investors today.
In particular, it should be noted that Bitcoin stumbled this weekend precisely on its 100-day moving average, which currently stands at $42,320. This same moving average had also halted the previous significant rebound in Bitcoin at the beginning of March.
We must therefore consider this 100-day MA as a very important immediate obstacle, the crossing of which would constitute an important bullish signal. Even so, this would not be enough to give a positive profile to the daily chart of BTC/USD.
Indeed, it is only in the event of crossing the resistance zone of $45,500 that we can begin to envisage a bullish reversal of the underlying trend of Bitcoin, with in this case the critical threshold of $50,000. as the first important objective.
On the downside, a vaguely rising trend line visible since late January is the first credible potential support, currently around $38,000. Lower, the $35,000 threshold will come into play, before the annual low around $33,000.
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