(4/2, Sat) btc rebounded after supporting 100MA of the 4hr chart, and altcoins is leading the crypto market

in btc •  3 years ago 

Yesterday(4/1 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $45504, its lowest as $44178, its highest as $46720, its closing as $46269. After the start of Friday, Bitcoin continued the previous day's decline, hitting a low above $44k at 02:45 and then rebounding sharply, reaching a high below $47k at 15:15 and closing 1.7% up.

Looking at the 4hr chart, Bitcoin, which broke below 50MA the previous day, fell further, but after supporting at 100MA, it closed again above 50MA, which is meaningful move. In particular, it was found that the sell-off was not strong for altcoins because the dominance fell as the btc fell, and the altcoins are leading the rise of the crypto market.

On the daily chart, the correction only lasted two days and the rebound acompanied by a larger volume than it of the correction days indicates that the current uptrend is still alive. And the fact that Bitcoin showed a rebound after adjusting by -8.3% from short-term high on 3/28 is a movement commonly seen in bull markets, and Ethereum's close to its short-term high also raises expectations for further upside.

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  ·  3 years ago  ·  

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