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Possible rewritten titles: 1. Bullish Bitcoin rally may soon fade despite relief push 2. Bitcoin’s relief boost likely temporary, bullish rally loses momentum 3. Bitcoin rally’s relief-driven upswing short-lived amid bearish outlook 4. Optimism wanes as Bitcoin’s bullish relief rally reaches its peak 5. Relief for Bitcoin traders may turn sour as bullish rally loses steam

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

like of April, bitcoin’s price It has been holding steady around $28,000 since March 23, marking a significant increase from its starting point of $17,000 to start of the year.

Now, traders and investors are focusing in the field of digital currencies on whether bitcoin’s current price Still on Uptrend or if the relief high is coming to an end. on time of writingand bitcoin is 28,000, or 1.3% decrease in the last 24 hours.

Missing trend reversal

In cryptocurrencies, relief spikes indicate temporary price After a big increase market deflation. in case of Bitcoin, it has experienced a sharp decline drop in Its value earlier this year caused many investors to panic and sell off their holdings.

but, in Recent weeks, Bitcoin price He was climbing slowly. this recovery It may be seen as a comforting recovery as it provides some relief to investors worried about the cryptocurrency’s long-term prospects.

According to a recently posted video from DataDash, so are we in for along way-term range of previous historical support Likely to act as resistance againand like in June. This is the test of time range of price Work where we expect some price resistance.

However, looking at longer term timeframes, it starts to get very ‘ scary for bulls.” The expectation is a trend reversal or blue flip should occur And as we get through May, we’ve accelerated way beyond the benchmark. Instead, it was red for Almost three or four months in a row, signaling “we’re not ready.”

Although there is no end to it all for pointers one Featured by DataDash which is a time-tested momentum indicator in Forex, commodity and many other markets long before cryptocurrencies.

source of confusion

However, given the just time frame for week, the momentum indicator continues shows Blue, which DataDash notes could confuse investors.

In general very difficult trade A relief march since then hard to say how Now you will go. These walks are often short-lived and more follow price drops. Therefore, investors are encouraged to watch these indications carefully before taking them on positions of great influence.

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