Will Bitcoin Price block again?

bitcoin (<a target="_blank" data-ct-non-breakable="null" href="http://btc/” rel=”null” target=”null” text=”null” title=”null”>btc) took advantage of $ 92,700 during the first Asian hours on March 6, 19% above the minimum of February 28, $ 78,200 as the feeling improved in all areas.

However, the recent rejection of $ 94,500 raises questions about whether the btc price could fall more in the next few days.

White House encryption summit: Sell, the news?

The crypto's summit of the White House scheduled for March 7 has markets full of optimism, waiting for a Pro-crypto frame. However, this could become an event of “selling the news”, which leads to another reduction in cryptography prices.

Key control:

• The president of the United States, Donald Trump, will be the host of the first cryptographic summit of the White House on March 7.

• The Summit aims to bring together the leaders of the industry to discuss regulatory policies, the supervision of the stable and the potential role of cryptocurrencies in the US financial system.

• Attendees will include outstanding industry leaders, including the founder of the Michael Saylor strategy, CEO of Ripple Brad Garlinghouse and CEO of Coinbase Brian Armstrong, together with members of the president's working group on digital assets.

• While Trump's administration has indicated support for the cryptographic industry, the results of the summit remain uncertain.

• A hard -hand regulatory approach, for example, the strict KYC rules for bitcoin holdings or taxes on unrealized profits could scare investors.

• Past clashes, such as the 2022 recession after repressions in the IDEN SEC, show how sensitive it is bitcoin to policy changes.

• If the summit disappoints or introduces unexpected compliance loads, we could see a massive sale, with bitcoin falling 20-30% in days, as historical patterns suggest.

Previously, bitcoin recovered briefly after Trump's announcement from a strategic cryptography reserve, but “this turned out to be another 'Sell-The News' event, with the prices that continue to fall and function below their levels prior to the announcement”, the Glassnode market intelligence firm saying In his latest report of the week in the chain.

After initially increasing at $ 95,150 after the news on March 2, the price of bitcoin fell 15% to a minimum of $ 81,483 on March 4.

Related: Trump can be the “furious bull” of cryptography, but the EU can have the advantage

bitcoin pricing key levels to see

bitcoin reached the level of $ 92,000 on March 6 before returning on returns. Merchants now focus on key areas below this level, which btc Price could visit again in the near future.

Notably:

• bitcoin key levels to immediately observe at the disadvantage are the main support of $ 87,200 and the simple 200 -day mobile (SMA) average at $ 82,908.

• Under that, the first area of ​​interest is between two recent minimums of rank at $ 81,463 (formed on March 4) and $ 78,200 (formed on February 28).

• btc will potentially go to the liquidity cluster around these levels if the $ 90,000 support is lost.

• An immediate relief for the Bulls would be an acute investment of this range, which will indicate a purchase interest below the 200 -day SMA.

• Otherwise, btc could try the following area of ​​interest between $ 74,500 and $ 75,800 before filling the value of the fair gap below it at $ 70,000.

• The previous table also shows a key resistance zone to general expenses between $ 92,000 and $ 97,400 (where the 50 -day and 100 -day SMA seems to converge).

• Overcoming this barrier would confirm the end of the bearish trend as the bulls put their eyes at $ 100,000 and beyond.

The cost of the short -term holder (STH) at $ 92,000 is a key level to observe why it has “historically acted as an important reference level in bull market trends,” Glassnode analysts explained.

“Decisive reactions around the cost of the short term cost at $ 92K seem to be a key level to monitor the local impulse. If the market deteriorates even more, the $ 71K region is a key area of ​​interest. “

According to Glassnode, the active price is quoted at $ 70,000, aligning with the lower band of the STH-costus base, so it is a key area of ​​interest.

“With a significant confluence in several key cost base metrics, this price region becomes an area of ​​interest, perhaps being the final defense line for the Bulls in case of a complete capitulation.”

This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.