Underearment possible at 166k dollars

The price of Bitcoin was remained under pressure this week, because trade care remained, but two rare patterns indicate a possible jump.

Bitcoin (Btc) Mahani, while Cripto fear and greed index went into the fear zone of 35 this week. Most of these weaknesses were due to the current fear of the Trade War between the United States and its best partners.

The United States has already begun to charge tariffs in Chinese goods, which can affect the volume of $ 450 billion. While the Canadian and Mexican tariffs are paused, there are a chance of restarting next month.

These trading sailors have led to feelings of fear among market participants. Cripto fear and greed index dropped to the level of fear of 35, while the CNN index for money fell to 39 years.

Bitcoin also stayed on the edge because investors for now remain sideways. The strategy was paused by Bitcoin purchases, while data for Koinglass indicates poor futures open interest. Varieties Bitcoin ETF ETFs remained about $ 57 billion, down $ 68 billion this year.

The price of Bitcoina also waved due to the Federal Reserve, which pointed to several hawks in their first meeting in Monetary Policy in the year. The bank left interest rates unchanged and hinted that this year would provide only two cuts. Bitcoin and other Altcoyni do well when Fed has a pigeon.

Technical Bitcoin Jump Price

The weekly graph shows that BTC formed two lines of graph forms that often lead to significant gains. The first is a cup and a handle that was formed between November 2021. and November last year. This form is composed of a horizontal line and a rounded bottom to form a cup, and then some consolidation.

The aim of the profit was established by measuring the depth of the glass, and then measures the same distance from the top of the cup. In this case, the depth is about 80%, which means that the jump jump will refuse to $ 123,000.

The recent consolidation of Bitcoin is part of the Billish flag pattern, which has a long vertical line and a rectangular shape. The size of the pillar of the flag is about 55%. The measurement of this distance from the upper part indicates an interruption of $ 166,000.

Warning of this BTC Prediction Prices It is that it can take it, because it uses a weekly chart. For example, the C & H sample lasted about three years to form. As such, the price list of Bitcoin to $ 166,000 can take time to complete.