While the BTC oscillates near critical support areas, the next economic data related to the United States could play a decisive role in the next movement. The Bitcoin DMI indicates leadership of the sellers The DMI (Direction Movement Index) graph of Bitcoin currently shows the ADX at 21.51. It is interesting to note that the trend has recently changed. Indeed, it went from an upward trend to a downward trend. In the past few days, the Bitcoin course has lost its bullish momentum due to the lowering of the lowering. This transition is significant because it often precedes continuous sale pressure. This, unless the bullish can quickly regain control. BTC DMI. Source: TradingView the ADX (Average Directional Index) measures the strength of a trend, whatever its direction. Generally, an ADX below 20 suggests a low or non-existent trend, while a value above 25 indicates that the current trend is strong. Currently, with an ADX at 21.51, Bitcoin is in an area of increasing trend force, but not yet very strong. In parallel, the +DI, which represents the bullish force, suddenly dropped, going from 26.33 to 14.58. This attests that demand is down and the rise loses power. At the same time, the -Di, representing the down pressure, climbed from 13.2 to 33.41. Thus, the sellers firmly took control and could create more carnage. This net cross between +DI and -Di indicates a clear change in the feeling of the market. For the BTC, this could materialize by an even more alarming lesson drop. An Ichimoku cloud which is not there to comfort us the graphic of the Ichimoku cloud from Bitcoin shows signs that project us towards a downward trend. Indeed, because the action of prices has crossed the tenkan (blue line) and the Kijun (red line), indicating a weakening of the momentum. Worse, the most recent candle has decisively pierced the lower limit of the green cloud (KUMO), suggesting a potential tendency reversal or even the start of a deeper correction. This rupture also means that the cloud, which previously acted as a support, could now serve as resistance. This, especially if the course tries a quick rebound. BTC Ichimoku Cloud. Source: tradingView. In the Ichimoku system, the cloud represents both the support/resistance and the feeling of trend. When the course is above the cloud, the trend is up; Below, downstream. If the price of Bitcoin is inside, then the market is in consolidation. With the current course slippery under the cloud, this indicates that the down pressure takes control. The future cloud also seems to be thinning, revealing a reduction in the strength of the tendency to come. Unless the BTC quickly returns to the cloud and the Tenkan, the sellers should keep their advantage. Will the Bitcoin price resume $ 100,000 in April? The Bitcoin course failed to unravel the resistance area close to the $ 88,800. From now on, he derives towards a key support at 84,736 which he will have to maintain. This level will be crucial to determine the short -term course management. If this level gives way (as is currently the case), the market could intensify its correction. The BTC would thus go to its next support at $ 81,162. A loss of this area could expose Bitcoin to more decline, including a fall below the psychological threshold of $ 80,000, with the $ 79,970 and $ 76,644 acting as supports. Currently, the Momentum clearly seems to benefit the lowering of the downgrades that gradually gain ground. Unless a strong rebound occurs, retracements are becoming more and more likely. Analysis of the BTC course. Source: tradingView. That said, American macroeconomic data could tip the scales in favor of the bruises. If these events positively stimulate the feeling of the market, the price of Bitcoin would start upwards. The course would once again test the resistance of $ 88,800 with the aim of exceeding it. It was not until this time that the asset would tackle higher objectives leading it to $ 100,000. A rally supported beyond these levels could revive the hope of a return to the threshold of $ 100,000 in April. Morality of the story: circulate and enjoy spring, Bitcoin still wants to pluck us during the day. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, this article of price analysis is only intended for information purposes and should not be considered as financial or investment advice. Beincrypto undertakes to provide exact and impartial information, but market conditions may change without notice. Always carry out your own research and consult a professional before making any financial decision.
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