Bitcoin will face “great resistance” to recover 94,000 dollars: analysts

BitCoin analysts may struggle to move more than $ 94,000 after its failed attempt to restore the price level two days ago.

“Any recovery to recover the price may face $ 94,000,” BitFinex analysts He said In the market report March 3. Bitcoin (BTCLess than $ 94,000 decreased on March 2 and was not yet bounced.

Strong bitcoin spot the wrong sales market Trump gains

BitFinex analyzes linked this prediction to the recent fluctuations after US President Donald Trump announced on March 1 Pledge of the coding reservesWhich saw Bitcoin rising at 12 % from 85,000 dollars to 95,000 dollars.

However, analysts said that intense pressure in the instant bitcoin market may already be erased most of these gains. With Bitcoin currently at $ 87,190, returning to $ 94,000 represents an increase of approximately 8 %, such as per CoinMarketcap data.

It seems that the consensus between the Bitcoin price analysts in the short term is uncertain, with no clear signs that the declining trend has ended or strong signals of the emerging rising arrangement.

Correct encryption merchant He said In a publication on March 4 x that although “history indicates that the bottom may be in this negative deviation,” the additional negative side is still a possibility.

Rikt said that although Bitcoin may see a form of price stability around the range of $ 93,500 in the coming days, this does not mean that the price will not “deviate” to less than 93,500 dollars again.

The fluctuations to the rule until the original buyers enter the market

Axel Edler’s encryption analyst He said In a post on March 4, it was a “good sign” on the buyers “bitcoin” when he recently exploited it 81,000.

Meanwhile, the founder of MN Trading Michaël Van De Poppe He said“Frankly, I think we will need to wait until this week ends as there are a lot of total economic data and events.”

Related to: Bitcoin price mirrors 2019 “xi pump”, do you approach New BTC?

The US Consumer Prices Index (CPI) is scheduled for February 12, one week before the interest rate of the next Federal Reserve on March 19.

Founder Master Ventures Kyle Chase He recently said that the price of Bitcoin will continue To try volatility until original buyers start entering the market instead of traders looking for arbitration opportunities.

Fear of encryption and greed indexThat measures market morale, shows a 20 degree in the “extreme fear” category, as it has been since February 25.

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This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.