BTC Overview

The cryptocurrency market continues to recover after falling to almost $32,000 per bitcoin. The first cryptocurrency has already confidently gained a foothold again above the key level of $ 40,000 and continues to test resistance around $44500 per BTC unit.

The first signal to break the bearish trend is the breakdown of the moving average for 50 days. The next test will be already 200 days. Remember how long she kept bitcoin from declining, now it will be a kind of test for the bulls. At the moment, it is in the region of 50,000 dollars, which is also an indicative price level. But I think by that time it will decrease slightly and will coincide with another key level around $ 47,500.

The next key signal is the growing confidence of investors.

The cryptocurrency greed and fear index is above 50, which shows a more confident position than a month ago.

The fundamental factor also remains more positive for the cryptocurrency market, although the Securities Commission continued to block ETFs related in one way or another to the crypto market, one of the largest players is launching an “integrated payment center”. From the presentation of CEO Jamie Dimon, we can conclude about the integration of cryptocurrencies into this center, which, of course, will affect a positive background.