Bitcoin Price Reversal from a Healthy Retracement Level Hints 6% Jump; Enter Today?
In the daily time frame chart, the Bitcoin price showed a sharp reversal from local support of $27000. This sudden change in market sentiment could be associated with the news spread of the First Republic Bank collapse as it faced massive outflow. Amid the US bank crisis in March 2023, the Bitcoin price witnessed a significant rally suggesting its hedge power against the falling banking sector. Can this fresh recovery regain the $30000 mark? advertisement Key Points: The Bitcoin price reversal from the 23.6% FIB indicates a higher possibility for uptrend continuation. A bullish breakout from $291510 encourages BTC price to a 6% jump The intraday trading volume in Bitcoin is $21 Billion, indicating a 37% gain. Source-Tradingview On April 24th the Bitcoin price rebounded from a combined support of $27000 and a 23.6% Fibonacci retracement level. The bullish rally driven by the possibility of First Republic Bank collapse surged the co...