Bitcoin recovery can fade with the transformation of artistic patterns

Bitcoin was swarmed up this week after the Federal Reserve made a mixed decision on Wednesday.

Bitcoin (BTCIt has been recovered to $ 87,375, its highest level since March 7, and an increase of 13 % of its lowest level this month.

Recovery coincided with the continuous recovery of other assets such as stocks and commodities. American stocks have risen yet FOMC ResolutionWith Dow Jones and S & P 500 with more than 1 %. Gold jumped to a record level of $ 3100, while copper via a milestone of $ 10,000.

This gathering is likely to be driven by Jerome Powell that Donald Trump’s tariff will lead to temporary inflation. Such a scenario may indicate discounts in the prices of the federal reserve category more than the expected market. This explains the reason for the decrease in bond returns for a period of 10 years sensitive to the rate after the price decision.

However, these assets have declined from some of their gains, as Dow Jones Futures decreased by 200 points and those associated with the NASDAQ 100 index, which decreased by 145 points.

Technicians indicate more bitcoin low

Planning patterns indicate that Bitcoin price may continue to decrease in the coming days. The daily chart shows that the currency slowly forms a rising wedge, a common downward signal. This style consists of two emerging and close trend lines, with a probably exhausted outbreak when the two lines converge.

Bitcoin has also formed other rolling patterns. It recently formed a cross -death style as weighted moving averages have crossed for 50 days and 200 days each other. Sorry pattern is a great formation in technical analysis.

Before that, the BTC price formed a dual pattern at $ 108,233. This style had a neckline at $ 89,000, which Bitcoin is now trying to re -test. Breaking and re -equipping is a famous continuing signal.

Therefore, the currency expectations are declining, as the first goal was $ 76,750, which is its lowest level this month. The decrease in this level will indicate more from the negative side, and it may reach $ 74.070, which is the highest swing in March last year. This goal is about 14 % lower than the current level. The decrease to the highest level last March will be a bullish sign because it will represent a successful retrieval process.