BTC/USD

The U.S. Dollar is bouncing from a big spot of long-term support but the question now is whether USD/JPY bulls and EUR/USD bears can continue to run. Gold is pulling back from a test at 3500 and Bitcoin has broken out of a falling wedge formation.

Over the past two trading sessions, Bitcoin has gained more than 6%, climbing back to the $90,000 per BTC zone, a level not seen since early March.

Today, Bitcoin has recorded a drop of more than 10%, breaking below the key psychological level of $80,000 per BTC. The selling pressure, which began over the weekend, has been mainly driven by the rising perception of market risk.

The recent bullish rebound in Bitcoin (BTC) since March 11 has so far been insufficient to reach the $90,000 per coin mark.

In the last four trading sessions, Bitcoin has dropped more than 15%, reaching a low of $76,600.

In today’s session, Bitcoin has experienced a significant recovery, surpassing 10% in value appreciation and reaching new levels above $90,000.

GBPUSD, Bitcoin Analysis: Trade war risks continue to threaten market stability, keeping the DXY above 106 against major currencies and reducing overall market confidence across indices and cryptocurrencies.

Bitcoin has recorded a decline of more than 11% from its last high reached on January 20, when it traded at $109,000 per BTC.

My bias for Bitcoin’s rally to continue to 125k and reach its bull-flag target remain in play. Yet its reluctance to break to a fresh record high puts me on guard for a false break ahead of the real move higher.

Bitcoin has experienced an increase of more than 14% since the last low recorded on January 13. However, the buying momentum has not been strong enough in the short term to sustainably surpass the current resistance barrier at $106k.

Bitcoin has recorded a decline of over 15% from its peak and is now near the critical 90k barrier.