Bitcoin (Btc) Used USD 92,700 in the early Asian hours on March 6, 19% above February 28 the lowest level 78,200 USD as the mood improved.

The last rejection of USD 94,500 raises questions whether the price of BTC may drop in the next few days.

Summit Crypto Summit: Sell-the-News?

At the top of cryptocurrencies at the White House scheduled for March 7, it has optimism buzzing markets, expecting a pro-crrypto frame. However, this can change into the “Sell New” event, which led to another payment of cryptographic prices.

Key results:

• US President Donald Trump will host the first peak of the White House cryptocurrency on March 7.

• The peak aims to gather industry leaders in order to discuss regulatory policies, Stablecoin supervision and the potential role of cryptocurrencies in the American financial system.

• Among the participants will be outstanding industry leaders, including the founder of the strategy Michael Saylor, general director of Ripple Brad Garlinghouse and Coinbase General Director Brian Armstrong, together with members of the President’s working group for digital assets.

• While the Trump administration signaled support for the cryptocurrency industry, the summit results remain uncertain.

• Tough regulatory approach-let’s say, strict KYC principles for Bitcoin shares or taxation of unrealized profits-can frighten investors.

• Earlier accidents, such as the deterioration of the 2022 economic situation after the repression of Sec Biden, show how sensitive bitcoins to politics changes.

• If the peak disappoints or introduces unexpected compliance loads, we could see the sale, and bitcoins fall by 20-30% in days, as historical patterns suggest.

Earlier, Bitcoin bounced shortly after the announcement of the Trump’s strategic cryptographic reserve, but “this turned out to be another event” Sell-the-NEWS “, and the prices continued to fall and trade below their preliminary levels”, a company dealing with Glassnode market intelligence he said Last week of the chain report.

After the initial enhance to USD 95,150 after March 2, the price of bitcoins dropped by 15% to the lowest level USD 81,483 on March 4.

Related: Trump can be a “raging bull” of cryptographic, but the EU may have an advantage

Key levels of bitcoin prices to watch

Bitcoin reached the level of $ 92,000 on March 6 before recovery. Traders are now focusing in key areas below this level, which in the near future may visit the BTC price again.

Especially:

• The key levels of bitcoin for immediate viewing in the minus are the main support of USD 87,200 and 200-day straight movable average (SMA) for USD 82,908.

• Below, the first area of ​​interest is between the last two lowest ranges at USD 81,463 (created on March 4) and 78 200 USD (created on February 28).

• BTC will potentially direct the liquidity cluster around these levels if the support of USD 90,000 has been lost.

• Immediate relief for Bulls would be a rapid reversal from this range, which indicates the purchase of interest below 200-day SMA.

• Otherwise, BTC may potentially test the next interest area from 74,500 to 75,800 USD before it filled the value of a fair difference below USD 70,000.

• The above table also shows a key resistance zone of 92,000 to 97,400 USD (where 50-day and 100-day SMA converge).

• Overcoming this barrier will confirm the end of the inheritance when Bulls drew attention to $ 100,000 and more.

The basis of brief -term costs (STH) at USD 92,000 is a key level for watching, because “it acted historically as an important reference level in the field of bull industry,” explained Glassnode analysts.

“The decisive reactions to the short -term costs of the holder at USD 92,000 seem to be a key level of monitoring local shoot. If the market worsens, the 71,000 USD region is a key area of ​​interest. “

According to Glassnode, the busy price is $ 70,000, which is compatible with the lower band, which is a key area of ​​interest.

“With a significant esteem in several key basic indicators, this region of prices becomes an area of ​​interest, perhaps it is the final line of defense for bulls in the event of complete surrender.”

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.