It is Important that Bitcoin (BTC) Passed This Key Level!

Bitcoin started to recover after the collapse last week and exceeded the $ 6,000 level. The leader is trying to turn the key resistance in front of the crypto asset into support. This situation is considered as a potential bull sign for the rally expected in the coming days and weeks.

Bitcoin, which was traded at $ 6,185 at the time of writing, climbed seriously after seeing the lowest $ 5,100 level yesterday. The collapse in traditional markets was expected to continue to affect Bitcoin negatively and new collapse in the leading crypto asset was expected, at least for now.

Dow Jones and S&P, the major building blocks of the US stock markets, rose more than 1 percent in 500 days. If Bitcoin continues to perform better than traditional markets in this way, the issue of being a safe haven may come up again. If the thesis that Bitcoin is a safe haven asset is accepted, the recovery process can take place faster.

Satoshi Flipper, one of the popular cryptocurrency analysts on Twitter, said in a statement that bulls are trying to stay above the critical resistance of $ 5,700, while Bitcoin’s divergence from traditional stock exchanges may continue to rise.

IMO we’re in the process of flipping this $ BTC key level

I told you we were decoupling, told you the bottom was in, told you that going long was the real money move yesterday, all in the face of daily resentment from imbeciles convinced we were heading to sub $ 3k levels. pic.twitter.com/pbgfj2ioib

– Satoshi Flipper (@SatoshiFlipper) March 19, 2020

Today’s rise is very important for the potential rally expected for the coming days and weeks. Because Bitcoin, acting in a different way from stock markets, is very important for the future of crypto assets.