Bitcoin (BTC) Price Analysis – Daily Updates On April 04 Crypto assets new rules to stop illicit flows in the EU

BTC price had some changes at the end of the week, the price dropped to ~ $44,200 when it did not reach the expected level $50,000-$52,000, however, if we look at the chart and the market information, plan for next week can is a slight correction to increase to the range expectation or downtrend or is this a stepping stone for an upcoming uptrend season. Close weekly candle by a Doji with a closing price almost equal to the opening price, showing a balanced buying and selling force. This could be a sign of a new trend or it could be sideways. Besides that, there are signs of profit-taking by sharks and there are also have sharks collect large quantity BTC. Now let’s come to our personal opinion on BTC in this week.

Crypto News

BTC Whale Abruptly Moves $9,600,000 in BTC After Sleeping for Seven Years. There was significant movement on-chain yesterday, with 10,000 BTC that has not moved for the past 7-10 years finally moving. Red boxes show when similar-sized dormant amounts were moved previously typically at major highs. In eleven separate transactions, the deep-pocketed trader moved about $9.6 million in BTC in what whale-tracking protocol Whale Alert says could be related to the 2014 hack of now-defunct casino-based crypto exchange platform Cryptsy.

Binance Hires Senior Microsoft Exec as CTO. Binance announced on Friday that it has hired Rohit Wad, who has spent more than 30 years at Microsoft and other Silicon Valley giants, to be its new Chief Technology Officer. The move comes at a time that Binance, the world’s biggest cryptocurrency exchange, is working to shake off its one-time renegade image and extend crypto’s role in the mainstream economy. Hiring Wad appears to be a key part of that plan.

Crypto assets new rules to stop illicit flows in the EU. On Thursday, MEPs from the Committee on Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties (LIBE) adopted, with 93 votes to 14 and 14 abstentions, their position on draft legislation strengthening EU rules against money laundering and terrorist financing. The proposals are intended payments to extend anti-money laundering (AML) requirements that apply to conventional over EUR 1,000 ($1,114) to the crypto sector. They also scrape the floor for crypto payments, so payers and recipients of even the smallest crypto transactions would need to be identified, including for transactions with unhosted or self-hosted wallets. Cold wallets are essentially wallets that are not controlled by a third party, like Trezor, Ledger or MetaMask.

Onchain Analysis

This clearly shows that the supply of BTC continues to be low. This is a great signal that the BTC supply is getting lower and lower. This trend shows the increasing long-term storage of BTC. The sharks increasingly believe in the growth of BTC.

This indicator is giving a negative value. The amount of BTC put on the exchange in the past few days is extremely small, but a large amount of BTC has been withdrawn from the exchange. It shows that the market is still extremely excited in the last week and has a strong belief that the market will continue to increase strongly.

BTC Technical Analysis

Weekly Chart – BTC

Frame Week: Weekly candle Just closed Doji with a closing price almost equal to the opening price, showing a balanced buying and selling force. The price has retested EMA 34 improve indecision around this area $44,000-$46,000. In our personal opinion, the probability is high, BTC will come back to test around $44,000- $45,000. First case If the price break down to $44,000 then the price will return to the area of $40,900 which has strong support. And the second case if the price break reaches $47,000 and the transaction stabilizes so the price will reach $50,000-$52,000. In our opinion, the second case has a higher rate.

Considering the 4-hour frame, the price is running in a rising triangle, H1 has broken uptrend and is being held by horizontal support around $45,500-$45,800. In the short term, the price is bearish and sideways in the price zone: $44,200 – $47,2000.

Signal: Frame Week increase, frame 4h adjust.

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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.

Alan

Coincu Ventures