This is a daily technical analysis of the Coindesk analyst and technician of the approved market Omkar Godbole.
Imagine two major newspapers approving the same presidential candidate. Joint support indicates that the candidate probably has a large support.
Likewise, when prices for both bitcoins BTC$104,014.70 And the strategy (MSTR) – The largest BTC holder on the public list – presents simultaneous bullish signals, it is probably a strong sign that the market and the main institutional players are aligned.
Daily price graphics for BTC and MSTr show their 50-day single mobile medium (SMA) crossing their 100-day SMA to confirm a so-called Haussier crossover. It is a sign that the short -term trend now outcomes the longer term trend, which could be a signal from the start of a large bull market.
Bull cross from BTC is consistent with other indicators such as the MacD, suggesting that the path of the slightest resistance is on the upper side.
That said, a provisional drop below $ 100,000 cannot be excluded, because the data on the chain show that influential market players have become cautious.
The graph shows that the BTC prices rally is at downturn in the range from $ 101,000 to $ 107,000. A downward break could trigger more benefits, potentially deepening the withdrawal of the Haussier market to support $ 98,000.
