Key Insights:
- Is Bitcoin price forecast headed for $100K after it retook the 4H 200MA/EMA for the first time since losing them in early February?
- The amount of leverage used across all crypto exchanges has surged by 17% in the past 20 days.
- BTC miners are holding tight with no significant selling activity in 24 hours.
Bitcoin successfully regained the 4H 200MA and 200EMA after an absence since the early weeks of February potentially showing a new direction.
The moving averages functioned as powerful barriers to reject price from approaching near the $92,000 mark multiple times over the downtrend period.
Bitcoin price forecast saw the possibility to resist at $87,199 4H 200EMA and $86,498 4H 200MA could outline the next short-to-midterm market path.
A continuous hold above these price points might signal bullish continuity while $90,000 stands as the first resistive threshold.
As of press time, Bitcoin eyed $95,000 if it broke above its current position with an additional target of $100,000 only if the momentum remained strong.
The inability of BTC to sustain these moving averages would produce another rejection that continued along previous trend lines.
However, BTC could reach $84,000 if prices fall below $86,500 and an intensified selling pressure might send prices down toward $80,000.
Historical price behavior showed BTC experiencing difficulties when trading at these key moving averages so a successful reclaim required special attention.
The upward momentum required bulls to defend these moving averages to succeed.
An increase in confidence regarding BTC’s price movement would be possible as it holds positions above its 4H 200EMA and 200MA that could result in upward momentum towards higher resistance levels.
Another subsequent rejection would potentially strengthen the existing downtrend which would increase the probability of market losses in the upcoming trading sessions.
Bitcoin Price Forecast on Leverage Across Exchanges
Additionally, the Bitcoin price forecast monitored the leverage ratio spanning exchanges showing an increase of 16.2% from 0.22184122 to 0.25773014.
This percentage rise matched a 17% growth during 20 days. Traders increased their operational leverage during this time period which boosted both positive and negative market outcomes.
Higher leverage at 0.25773014 indicated growing market speculation that could create price volatility for Bitcoin in the short term especially after breaking above the moving averages.
Future market movements would likely result in upward momentum if market sentiment strengthened beyond projections but carried the potential for severe negative reactions from forced liquidations during market declines.
These market participants operated at elevated risk levels while their decisions were driven by price changes and changing trader opinion.
Bitcoin Miners Holding for More Gains
Switching to the Bitcoin miner reserves, the value reached 1,812,400 BTC on and then decreased to 1,809,200 BTC before rising slightly to 1,810,200 BTC during March 26.
Bitcoin experienced a price growth from $82K to $87.3K throughout this specific time period. Miners held onto their BTC reserves, limiting their sales actions to only 3,200 BTC.
The consistent miner reserves level indicated upcoming price ascents which would potentially drive bullish market trends during times of increasing demand.
In this scenario miners would consider selling their bitcoin holdings later in time when prices reached their peak levels thus potentially causing price reductions.
The stable mining reserves combined with rising Bitcoin price point to market equilibrium at present although changes in market forces could be the key determinants in future BTC price trends.