Update Crypto: Bitcoin separated, Altcoins pump – is Bull Back? Deep diving

Bitcoin trades by 11 % of its lowest level 74,450 dollars starting from Wednesday, as the total markets witnessed a big leap – as the NASDAC exchange increased by approximately 12 %, an increase of S&P 500 by 9 %, and DOW by 8 %.

The Altcoin market, including ETH, increased by 8.35 %, but it is still less than 40 % of $ 1.6 trillion. You will need to rise by 70 % to reach that peak again.

Screen snapshot via Tradingview USer Nighttrades

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Bitcoin weekly scheme

Bitcoin showed the request in the previous weekly swing of March 10, which is about $ 76,560. This is a decisive level of Bitcoin to carry in the short term. As we have seen a large gathering, Bitcoin should not return to its lowest levels if the price will reflect the daily direction.

The closure above 50MA on the weekly will also be perfect.

Screen snapshot via Tradingview USer Nighttrades

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Bitcoin daily chart

Even with this huge gathering, the structure on the daily graph is still landmark. This is why understanding the structure is important. Just because the feelings may feel more optimistic than ever, because the markets have not witnessed a crowd like this for a long time, things can still continue in the declining direction.

Screen snapshot via Tradingview USer Nighttrades

Regarding the daily structure, this is a decent beginning of the gathering, but there are major levels that can be monitored.

The first is a range of $ 88,000, where the price was rejected twice.

The second is the 92,000 dollar range, and it is the minimum of monotheism that ultimately erupted.

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With this strong gathering on Wednesday, you want to see a continuation. This is the key here. If you start seeing this momentum fading and trading the price below $ 80,000, this may be a sign that this was just a step to create another level in the daily, which leads to a continuation of the negative side.

As always, it is very important to remain disciplined and closely monitor the main levels. The market reaction at the price points will give us a clearer image about whether the collector can maintain itself or if the downward trend will resume. Watch the structure and set your strategy accordingly. Patience and managing the right risk will be essential with navigation through these critical levels.

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