What is the condition for continuing the price recovery process?

The price of bitcoin fluctuated a lot this week, and this shows the distrust of investors in the current market situation.

To Report Kevin Desk, the state of most technical indicators seems neutral, and as it turns out, short-term buyers, like the beginning of 2022, will be more active in the range between $ 35,000 and $ 37,000.

The MACD is positive in the 1-week market view and negative in the 1-month view, indicating that limited bitcoin price volatility may continue and the average price volatility over this period is expected to be around 20%.

The 100-week moving average (MA 100 – green line in the picture), which is currently at the level of $ 35,388, is an important support to maintain the current market trend. This means that in order for price recovery to continue, buyers must maintain the bitcoin position above this level.

The 40-week moving average, which is currently hovering at $ 46,800, continues to be one of the key resistance levels.

As of March 28, Bitcoin was very close to its $ 50,966 target; But like last September, buyers failed to reach this level. Currently, the condition for confirming the uptrend on the chart, which could reverse the general price trend, is that the weekly Bitcoin candle will close above $ 40,000 the next day.