Bitcoin Technical Analysis: Bitcoin Again Over 24k!

The rise in the price of Bitcoin came as US banks' stocks fell sharply in the trading session on March 13 amid fears of a nationwide banking crisis after Silicon Valley Bank

Investors began to smile as the FED, which came in the last three weeks, could increase the high-interest rate, and with the selling pressure of the bankrupt bank news, Bitcoin recovered its losses in just three days and traded over 24k dollars.

The rise in the price of Bitcoin came as US banks’ stocks fell sharply in the trading session on March 13 amid fears of a nationwide banking crisis after Silicon Valley Bank collapsed last week and New York-based Signature Bank was announced to be shut down by state regulators.

Another piece of news supporting the rise in the crypto money market is Binance, the world’s largest cryptocurrency exchange. On March 13, the stablecoin was worth approximately $ 980 million in the industry recovery fund, Binance USD (BUSD), Bitcoin, Ethereum (ETH), and BNB. It was announced that he would invest in Coin (BNB).

Bitcoin, which started the day at $ 21998 yesterday, closed at $ 24114 with an increase of 9.62%, showing how greedy the buyers are.

Bitcoin, which started today at $ 24112, is trading at $ 24192 with an increase of 0.33% at the time of writing.

Bitcoin Chart Analysis

Bitcoin regained the losses it suffered in three weeks in just three days, closing at $ 24112 with the sales, although it reached the limit of 25k yesterday. When we examine the chart, $ 25211, the highest value it saw last month, is the resistance level that we will follow as the most significant resistance in front of Bitcoin, which is seen to have broken the fall from August 2022. In case of possible BTC sales, which split the averages upwards, the $24000 level, the downward trend, and the $22873 level, which is the EMA5, are the first levels I will follow as the support point.

What is the latest situation in Altcoin?

The latest situation in some altcoins;

Ethereum: down 0.50% at $1664,
Solano: down 2.45% at $19.90,
Avax: down 1.09% at $16.29,
Ripple: down 1.20% at $0.3680,
BNB: It is trading at $304, down 1.27% at the time of writing.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when deciding.

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