Followin WeChat Official Account: Lazy King Squirrel
On Thursday (April 24), the US Dollar Index stalled at 99.80, gold safe-haven buying rebounded to $3,316, and Bitcoin was caught in a battle between bulls and bears around $93,300. The White House denied that US President TRON would unilaterally reduce tariffs on Chinese goods, emphasizing that China needs to reach an agreement, refuting previous US media reports that the White House was considering significantly lowering tariffs.
White House Denies "Unilateral" Reduction of Chinese Tariffs, Emphasizes China Needs to Reach an Agreement
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating to English.]Despite this, the 20-day moving average (currently at $3,167) has converged with the 61.8% Fibonacci retracement level at $3,164 and the previous trend high at $3,168. The 20-day moving average and these price levels mark a strong potential support. Additionally, the price movement near these levels should provide clues about demand.
Bitcoin Technical Analysis
CoinTelegraph notes that Bitcoin has formed a doji candlestick pattern, indicating hesitation between bulls and bears near the resistance level above $95,000.
The 20-day exponential moving average of $85,773 has begun to rise, and the Relative Strength Index (RSI) is approaching the overbought zone, suggesting the path of least resistance is upward. If buyers do not give too much space to sellers, it will enhance the prospects of breaking through $95,000.
Bitcoin could then potentially surge to $100,000, and subsequently to $107,000.
If the price drops significantly from $95,000 and breaks below the moving average, this bullish outlook will become invalid in the short term.
