Daily Technical Analysis BTC On March 25 – Russia Accept Local Currencies Or Bitcoin For Oil, Gas
After some of the good news for the crypto market like Russia is the #1 natural gas exporter in the world, and they’re open to accepting BTC for it, BTC price broke from $44,000 and today can move to $45,000.
Let’s take a look at some of the key news over the weekend that could affect the price of BTC:
Options contract expires at the end of March (today), Max pain is $42,000 at the end of the contract this is the price most traders lose.
Looking at the history will see a high probability that the price will return to Max pain price and turn around, this is also something to watch out for.
Fear & Gread Index
This indicator has changed from fear to neutral. The participants are still watching slowly, the market has not reached the level of fomo excitement despite.
BTC Technical Analysis
Looking at the daily frame, we can see that BTC is still sideways in a wedge pattern, not yet breaking the $45,000. The price is trading above the EMA 34,89 showing an uptrend along with increased buying volume, which proves that a large amount of BTC has been absorbed. It is expected that today the price will rally to retest around $44,000 and there will be a drop to Max pain: $42,000. After that, it will increase again and racket the $45,000. There is also a chance that BTC will correct a bit and rally to $45,000. But this ability is more difficult to achieve.
Looking at the 4-hour chart, we see that the price is sideways at the top in the range of $43,700 – $44,400. RSI touches the overbought zone but buying volume is still overwhelming and trading above EMA 34,89 for a short term uptrend. Our personal view: To be safe, wait until options expire let’s trade with the trend and prioritize cans.
Gamefi Market Update
Axie Infinity (AXS) is representative of the gamefi market, if you look at the daily chart of AXS you will see that the price of AXS has increased 78.64% since the last bottom and is up 50% in two days. It is expected that with the support of BTC we will see soon $88 and then $100.
So let’s take a look at the top gamefi to see if gamefi is really back or not?
The tokens are on average 10-20% up over the past seven days. This is not investment advice but everyone please look out for potential gamefi right now.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.