The International Monetary Fund has said that the global financial recession is coming. Despite this fact, the key cryptocurrency Bitcoin is doing very well. It quickly settled above $ 6000 and slowly scratches up and up. Most metrics that use a long period are already reporting underestimation. And just before the Bitcoin holiday, its halving.
The International Monetary Fund has announced the arrival of the global financial recession. However, markets quickly knocked this news out. Likewise, the price of the cryptocurrency king did not move. It seems that Bitcoin is harshly exploiting its fundamental power, which is based on the approaching halving.
The well-known analyst @CryptoMichNL wrote on Twitter:
$BTC #BITCOIN— Crypto Michaël (@CryptoMichNL) March 31, 2020
Rejected here at the CME gap close at $6,600, as this one is fully filled now.
Also acting in resistances here.
Looks to me as some consolidation today, but flipping $6,600 would be a bullish sign for further momentum to $7k+.
Rejecting here -> $5,200. pic.twitter.com/aUGuMS9Y8V
The avalanche, however, was caused by The Moon, which is extremely well-known among the community for its quality analyzes. In the comments below the aforementioned tweet he wrote:
#Bitcoin has never been this oversold before a halving.— The Moon (@TheMoonCarl) March 30, 2020