The veteran market analyst at X Handing Daan Crypto shared interesting insights into the current Bitcoin market structure. In a recent post on May 16, DAAN CRYPTO emphasized the potential development that could affect the price behavior of Premier Cryptocurrency by providing technical pointers for BTC investors.
Bitcoin gains optimistic propulsion over the ATH key
The United States and China have agreed to suspend the trade war between the two economies in the world by agreed to the 90 -day suspension of the recent steep tariffs in the big breakthrough. The announcement has increased its market confidence as it introduced into a global financial market of more than $ 600 billion.
According to DAAN CRYPTO, Bitcoin recorded rapid prices since this development, and its transaction was almost $ 106,000 than the US stock market. However, the price increase of Crypto Asset has since been stagnant and entered the market every range between $ 101,000 and $ 105,000, and the stock market continued to grow.
The current market price is about $ 103,000, and Bitcoin is $ 109,000, which is slightly more than the highest level. DAAN CRYPTO explains that the Premier Cryptocurrency should surpass this ATH level and enter the price discovery to rediscover the optimistic propulsion for the long -term increase. Market experts predicted that BTC, which banned this development, will maintain an integration for the near future.
$ 90K support area important for BTC BULL STRUCTURE -Analyst -Analyst
In other developments, DAAN CRYPTO chose $ 90,000 as an important support level for the current market rise. Analysts will create a weaker signal than this price, indicating that Bitcoin is out of the strength and can experience a significant down swing.
In particular, since the BTC price rebound began in mid -April, there was no price withdrawal of less than $ 90,000. DAAN CRYPTO says that as long as the virgin Cryptocurrency is maintained, investors who maintain this support area can be “strongly strong.”
But famous market experts point out that Bitcoin is showing much weaker than the stock market compared to a month before the price is 20% -30% lower than the current market. In the current situation, Bitcoin is expected to follow the stock market, which has increased by 30% -50% last month if potential prices have fallen.
Cryptocurrency, which is leading to the press time, continues to be traded at $ 103,509, reflecting a 0.51% decrease last day.
Istock’s main image, TradingView chart
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