Although the Bitcoin rate rose by almost 10% after Donald Trump partially paused his trade war, it is naive to think that the misery is immediately over. That is possible, but that is not the most likely scenario. The pseudonym analyst stretches Capital is also realistic and investigates where Bitcoin could find a soil.
Bitcoin looking for soil
According to Capital, Bitcoin’s Relative Strength Index (RSI) suggests that the digital currency can in any case retain the level of $ 70,000.
“The moment the RSI of Bitcoin comes to the daily graph below 28 points, that does not necessarily have to deliver a soil. In fact, in fact, historically, the actual soil is often still -0.32% to -8.44% lower than the price at which the RSI first reached a soil,” said the analyst.
A repeat of that scenario would yield a bottom of around $ 70,000 for Bitcoin. Fortunately, that seems to be no longer a question of that, because Donald Trump gives the market some breathing space with pausing his trade war.
Trade war on break, markets on
Not only Bitcoin shot up after Donald Trump pressed on the pause button. The American stock exchange could also appreciate that development. There, the races also went up like a rocket after the news.
Although this is a hopeful development, there is of course a huge cloud of uncertainty hanging over the financial markets. In principle we are at the mercy of Donald Trump’s strategy (or grilling).
That will probably not change in the coming months. The only thing this shows is that Trump is also sensitive to developments in the financial markets, and that he can theoretically bow to this pressure.
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Source: https://newsbit.nl/handelsveteraan-dit-is-waar-bitcoin-een-bodem-kan-vinden/
