Lena-Jam
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Lena-Jam
Countries like the US and European nations are considering new regulations related to cryptocurrencies. These changes could significantly impact the Bitcoin market. The EMA 34 and EMA 89 lines are supporting the price trend. However, the current price is below both lines, indicating a weak short-term trend. The MACD indicator shows a negative signal with the MACD line crossing below the signal line and the histogram in negative territory. This indicates that downward momentum is prevailing. If the price holds the support level at $63,500, a strong recovery to the resistance area of $67,580 could occur.
Lena-Jam
Recent strong volatility in Bitcoin prices has attracted the attention of both short-term and long-term investors. On the 4-hour BTCUSDT chart, we can see that Bitcoin is in a downward correction phase after peaking. The EMA 34 and EMA 89 lines are supporting the price trend. However, the current price is below both lines, indicating a weak short-term trend. The RSI 14 indicator shows a level of 35.50, indicating that the price is in the oversold zone. This could signal that the selling has been too strong and a short-term recovery is possible. If the price holds the support level of $63,000, a strong recovery to the resistance zone of $70,000 could occur.
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