Is recovery on the horizon?

After spending most of February in a trading in a range, Bitcoin (BTC) erupted below the monotheism, and slipped less than $ 90,000 for the first time since November. The leading currency is now trading at $ 88,956.

This recession indicates an increase in downtown pressure, which raises fears that the decline can extend to March.

The extent associated or penetration? Experts weigh

According to Bian, the main analyst in Santime, Bitcoin whales continue to reduce their commercial activity, which increases the possibility of a decrease in a decrease in The value of the currency.

“Bitcoin whales have taken a bit of rest and are not accumulating now (most of them remain flat),” said BEINCRYPTO.

The decline in Netflow with Bitcoin holders confirms Brian’s position. According to InTothheblock, the scale has decreased by more than 600 % in the past thirty days.

Older owners refer to whale addresses that contain more than 0.1 % of the circulating offer of assets. Netflow tracks the amount of the coins they buy and sell on a A specific period.

When it decreases, these main investors reduce the distinctive symbol holdings, indicating an increase in sales activity. This may exacerbate the declining pressure on the BTC price with an increase in the supply in the market.

For John Glove, the chief investment official of Leiden (CIO), BTC is likely to remain in a row ranging between $ 89,000 and $ 108,000 in March.

“From a technical perspective, BTC 1 follows from two tracks. In the first place, there is a good possibility to decrease to $ 89,000 or even 77,000 dollars before the next gathering. In the second, we have already seen its lowest levels, and the next step will be higher, up to approximately $ 130,000. . It is impossible to predict the path we are dealing with, and short -term predictions are meaningless when the movements are dictated Intraweek/INTRA-MONH news, and recently, through the behavior of big players such as the strategy.

Moreover, given the position of President Donald Trump, supporting profit, some investors ask how his policies affect the Bitcoin price in March. However, Glove believes that most “Trump Effect” believes I have already played.

The majority of Trump’s effect has already felt. We know that he supports very digital assets and has started his plans to simplify the regulations associated with encryption. “I don’t think he is a major term in the short term,” Glove.

Bitcoin approaches the levels of sale – does he recover on the horizon?

Bitcoin currency may be exaggerated and ready for apostasy, as it is reflected on the relative strength index (RsiReadings. At the time of the press, this momentum index is declining at 31.16.

The index measures the conditions of the origins market and excessive melting. It ranges between 0 and 100, with values ​​higher than 70 indicates that the original is the peak in the height and the cause of a decrease. On the other hand, values ​​of less than 30 indicate that the original has been sold and may witness a recovery.

RSI’s reading from BTC indicates that it is approaching the sales lands. This hints of a possible recovery of about 92325 dollars if the sale pressure reduces.

On the other hand, if this decline continues, the currency price It can decrease to 80,835 dollars.