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- #Will BTC Hit a New High?#
BTC has broken past $100,000 and is now consolidating near its peak. What’s your outlook on the next move? With bullish sentiment on the rise, could BTC reach a new all-time high?
#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
What’s next for the market? Which rebound tokens are you most bullish on?
Post your insights and trading strategie
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The price of Bitcoin (BTC) is trading at the lower boundary of the critical technical resistance known as the Ichimoku cloud, while the risk-reward ratio appears unattractive for investors in the short term.
Capturing the right entry point in the cryptocurrency market is seen as one of the most important factors determining investors' success. In this context, the recent upward trend of Bitcoin has reactivated bull investors, but the proximity to the current resistance level increases the risks for those looking to buy.
Bitcoin has been facing strong resistance at the lower boundary of the Ichimoku Cloud (Ichimoku Bulutu), which has been at around $85K since Saturday. Developed in the 1960s by Japanese journalist Goichi Hosoda, this technical analysis tool provides traders with comprehensive information on market momentum and support and resistance zones. The Ichimoku Cloud is defined as the area between the Leading Span A and Leading Span B lines, while if the price is below the cloud, it is considered a bearish signal, and if the price is above the cloud, it is considered a bullish signal.
Bitcoin, which fell below $100,000 at the beginning of February, has been testing the lower region of the Ichimoku cloud as resistance since then, encountering selling pressure with each attempt. Finally, on April 2, the sharp decline from the lower boundary of the cloud pulled the BTC price below $75,000.
The fact that Bitcoin has now reached the lower boundary of the cloud again indicates that risks are increasing for investors considering opening bullish positions. Currently, if the level of 85 thousand dollars is not exceeded, the price of Bitcoin may again be subjected to downward pressure, with the first support point being the level of 75 thousand dollars.
However, BTC surpassing 90 thousand dollars and breaking above the Ichimoku cloud may also indicate the beginning of a strong upward trend towards a new record level. Therefore, the direction in which the market will move in the coming days could be decisive.
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