According to Bloomberg analysts bitcoin There may be an increase in the momentum of the price chart in favor of the bullish.
“If $45,300 Level is Exceeded, Next Target Will Be $50,450 and $54,000”
Analysts said that if the BTC price surpasses the 45,300 level recorded in early March, the next targets could be $50,450 and $54,000. Bitcoin, which climbed up to $ 45,100 during the day, is trading at $ 44,400 at the time of this writing.
According to analysts, the BTC price may be following a price pattern that is a continuation of its current rally. When the price chart of BTC is examined, it is seen that the triangle shape is narrowing and the world’s largest cryptocurrency appears to be located at the upper end of this triangle.
According to analysts, this could hint at the positive momentum of BTC price. When Bloomberg analysts examined the popular technical analysis method Fibonacci extension, he stated that if the $ 45,332 observed in early March is exceeded, the $ 50,450 and $ 54,000 levels can be targeted.
BTC price, the fourth largest stablecoin in the world UST It is on the rise with news that the institution responsible for managing it is constantly increasing its Bitcoin reserves.
According to reports on Luna Foundation Guard (LFG), the Singapore-based non-profit organization purchased BTC for $125 million earlier this week. Thus, the institution fulfilled its promise to use BTC as an additional layer for the security of the UST.
In addition, the news from Russia is also one of the developments that reflect positively on the price.
With these developments, the BTC price exceeded $ 44,000 for the first time in almost a month and got rid of the narrow price range it was in during the days when the risk appetite increased. The fear and greed index, on the other hand, rose to 47 points for the first time since the beginning of the month, moving to a neutral position.
*Not investment advice.