Bitcoin breaks new high of 82,800, pulls back 2,000 points, is this the top of the upward trend?



The long-standing US-Iran dispute is still ongoing and unresolved. Federal Reserve officials' comments: escalation of the conflict has led to pressure on oil prices and supply chains, inflation risks are rising, and interest rates will remain high with the possibility of rate hikes again. PCE inflation expectations show March inflation rising to 3.5%, core PCE rising to 3.2%. Despite this, on Wednesday, US stocks closed at a new high in a strange manner, while Bitcoin funding rates are negative, a typical squeeze!

BTC
Currently in a clear short-term squeeze trend on the small scale, the four-hour MACD shows decreasing momentum forming a death cross, DIF is turning downward. Watch for support at 8060 during the day; if it breaks thoroughly, the four-hour squeeze pattern will deteriorate, so a conservative approach is to wait around 7800. During the day, focus on rebound highs for the squeeze.

Range around 8170-8220, with support at 8300, target 8060-7980, if broken downward, look for 7810.

ETH
Range around 2348-2365, with support at 2406, target 2310; if broken downward, look for 2260-2218.
BTC0.11%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin