Bitcoin Regains $90,000 Ahead of Key White House Crypto Summit
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Bitcoin (BTC) surged nearly 8% on Wednesday, reclaiming levels above $90,000 after briefly dropping below $80,000 five days ago. This sharp recovery signals renewed bullish momentum as investors react to speculation surrounding Trump’s proposed US crypto reserve plan. Key technical indicators, such as the DMI and Ichimoku Cloud, suggest that buyers have regained control. Whether BTC can sustain this momentum and push toward $100,000 or face renewed volatility depends largely on upcoming market developments, including the White House Crypto Summit. Bitcoin DMI Shows Buyers Have Reclaimed Control Bitcoin’s Directional Movement Index (DMI) shows that the ADX has fallen to 17.5, down significantly from 27.6 just two days ago. A declining ADX indicates weakening trend strength, meaning that the previous downtrend has lost momentum. At the same time, the +DI has risen to 27.9 from 17.7 yesterday, while the -DI has dropped from 30.5 to 20.5. This shift suggests that bullish momentum is increasing while selling pressure is fading. Bitcoin is currently attempting to transition from a downtrend to an uptrend, and these movements in the DMI lines indicate that buyers are starting to gain control. BTC DMI. Source: TradingView. ADX, or the Average Directional Index, measures trend strength rather than direction. Values above 25 typically signal a strong trend, while values below 20 indicate a weak or indecisive market. With ADX now at 17.5, Bitcoin’s current price action lacks strong trend confirmation, making its next move critical. However, the rising +DI and falling -DI suggest that bullish pressure is increasing. If ADX starts rising again alongside a widening gap between +DI and -DI in favor of buyers, Bitcoin could establish a new uptrend. Conversely, if ADX remains low, price action may stay choppy, lacking the strength needed for a decisive breakout. BTC Ichimoku Cloud Shows a Shift In Momentum Bitcoin’s…
Filed under: News - @ March 6, 2025 2:24 am