Investing.com – Bitcoin suddenly gained over $2,000 in minutes overnight Tuesday-Wednesday, in a move that started around 2:40 a.m., but really exploded from 3 a.m., and then was almost reversed. as quickly as it was recorded.
The price rose from around $39,200 to a peak of more than $41,700, an increase of 6.3%, in less than 10 minutes. The cryptocurrency, however, quickly reversed its gains and more, trading below $39,000 at the time of writing, trimming its gains.
The factor that made Bitcoin take off, if any, is unclear at this time. Chinese stocks and are up, but the Euro is down.
From a technical point of view, it should be recalled that the study of the daily chart shows that the underlying trend of Bitcoin is currently neutral on the bottom, and will only lean towards the upside in the event of a confirmed crossing of the zone. resistance of $45,000.
Before that, the 100-day moving average, currently located around $42,700, could also appear as an obstacle. It will be recalled that this 100-day MA put a stop to the last significant attempt to rebound in Bitcoin on March 2.
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