Bitcoin at the heart of politics – In the United States, the SEC and Joe Biden’s government are continuing attacks against cryptocurrencies. However, some politicians find interest in the king of cryptocurrencies. This is particularly the case of Robert Kennedy Junior, Ted Cruz, and Cynthia Lummis. The heart of Bitcoin beats in the American political landscape.
The course of Bitcoin is currently stabilizing around $34,000. This week, will buyers succeed in breaking the resistance at $35,000?
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Bitcoin price stagnates in 24 hours
BTC closed the week at $34,500sellers resist at the level of resistance at $35,000. In fact, the Bitcoin price stagnates in 24 hours :
In one week, the king of cryptocurrencies displays a increase of more than 10%. Also, in one month, he is in increase of almost 30%. For its part, the BTC/ETH pair stagnates in 24 hours. She climbs 6% in one week.
The price of Bitcoin is bullish on a weekly basis
In a complicated geopolitical and macroeconomic context, the price of Bitcoin continues its rise. Indeed, the price recently marked a new high in 2023 and this allows it to maintain a bullish momentum. Also, the institutional bias (EMA 9/EMA 18) has turned bullish againhe could act as dynamic support in the event of a fall:
Currently, the course is blocked at the level of resistance at $35,000. A rejection could send the course to the level of weekly support at $31,500. It’s about a pivot zone to keep for buyers. On the other hand, if the price breaks the resistance, the price could join the next resistance at $38,000. As long as the price maintains the bullish trendlinebuyers have the opportunity to retain control.
The RSI displays a bullish momentum with ascending troughs and peaks, the buyers have their hands on momentum.
Bitcoin price stabilizes below resistance at $35,000
Buyers are currently scoring pause. The course is being stabilize at the level of moving averages 9 and 18 trending upwards :
In the event of a rebound, the price could reach the next resistance which is at $37,000. However, if the sellers prevail, the price could reach the next support which is around $31,500. This scenario would not call into question the bullish momentum weekly. The RSI must continue to make ascending lows and highs for the buyers have control over short-term momentum.
The king of cryptocurrencies closes the week at the weekly resistance level located at $35,000. Until now, sellers are present at this level. The buyers’ objective is to break this resistance to find the next resistance which is located at $37,000. Be careful not to let the sellers impose themselves, because a return to $31,500 is not impossible. While BTC displays bullish momentum, cryptocurrencies are following suit.
Closer to Bitcoin news
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