Bitcoin Regains $90,000 Ahead of Key White House Crypto Summit
Bitcoin (BTC) soared nearly 8% on Wednesday, briefly dropping below $80,000 five days ago, recouping its $90,000 level. This sharp recovery marks investors’ reaction to speculation surrounding Trump’s proposed U.S. crypto reserve plan, which shows bullish momentum.
Key technical indicators, such as DMI and Ichimoku Cloud, indicate that buyers have returned to control. Can BTC maintain this momentum and push higher or renew the contract to $100,000 volatility It depends largely on the upcoming market development, including the White House crypto summit.
Bitcoin DMI shows buyers have retracted controls
Bitcoin Directional motion index (DMI) It shows that ADX has dropped to 17.5, a significant drop from 27.6 two days ago. The decline in ADX indicates a weaker trend, which means that the previous downtrend has lost momentum.
Meanwhile, +di rose to 27.9 from 17.7 yesterday, while -DI has dropped from 30.5 to 20.5. This shift shows that bullish momentum is increasing while sales pressures fade.
Bitcoin is currently trying to transition From a down to an uptrend, these actions in the DMI line indicate that the buyer is beginning to gain control.
ADX or mean direction index measures trend intensity rather than direction. Values above 25 usually indicate a strong trend, while values below 20 indicate weak or indecisive markets.
Since ADX is now 17.5, Bitcoin’s current price action lacks strong trend confirmation, the next step is crucial.
However, the rising +di and -di declines indicate that bullish pressure is increasing. If the gap between ADX and +di and -di increases again, not the buyer, Bitcoin can build new upward trends.
Conversely, if ADX remains low, price action may remain unstable, lacking the power required to make a decisive breakthrough.
BTC Ichimoku cloud shows momentum change
Bitcoin’s Ichimoku cloud structure suggestions Potential shift in momentum as prices exceed key levels. Prices have recently lost above the red baseline, indicating a growing bullish pressure. However, it is still interacting with the cloud, which represents an area of uncertainty and trends are often tested.
Green lead span A begins to tilt upwards. In contrast, the orange lead span B remains relatively flat, indicating that the cloud ahead is transitioning to possible support areas.
Furthermore, the lag span (green line) is approaching price action from 26 periods, indicating that Bitcoin is determining whether this breakthrough has enough power to continue.
Ichimoku Cloud is a dynamic indicator that highlights trend direction, momentum, and key support and resistance areas. The decisive move on the cloud will confirm a stronger bullish trend, allowing Bitcoin to establish a clearer upward trend.
However, if the price fails to exceed the red baseline and reenter the cloud, it may indicate a period of merger or even lower levels of retesting.
The current settings indicate Bitcoin is at a critical point. Continuous momentum may lead to breakthroughs, but hesitation near the cloud may lead to lateral movement before a clearer trend appears.
How will Bitcoin react after the White House crypto summit?
Bitcoin has recovered its $90,000 level As speculation develops in terms of potential special treatment proposed by Trump US Crypto Reserve Plan.
This new bullish momentum allows BTC to test key resistance at $94,833. A breakthrough above this level could result in a rally of $99,472.
If bullish sentiment continues to build, Bitcoin has exceeded $100,000 for the first time since February 3, which is an important milestone.
The overall trend will depend on whether the buying pressure is strong enough to maintain current momentum and surpass these key levels.
However, Bitcoin’s price movements have been very fluctuating recentlyThere have been strong fluctuations in both directions over the past few weeks.
Around the coming market uncertainty White House Crypto Summit On March 7, more risks were added as no development expected by investors could trigger a new downward trend.
If bearish pressure increases, BTC could face a sharp declinepossibly as low as $78,179.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
