The crypto is struggling to maintain the momentum of the money market. Yesterday April 4, in our article titled Bitcoin price analysis, we stated that Bitcoin price (BTC) should support the corrective rally from $ 6,000 to $ 7,500, and should surpass the $ 7,000 level to potentially move to a $ 8,000 zone.
Crypto is trying to keep the momentum that money market creates
However, within the past 24 hours, BTC has slid to $ 6,354 from $ 7,300 and has again posted a correction of 10 percent. Although a few large purchase volumes have been recorded on big stock exchanges like Bitfinex and Bithumb, the crypto money market is struggling to maintain the momentum that it has created over the five-day period from March 31st to April 4th. As a result, the crypto is trying to keep the momentum of the money market.
Bitcoin RSI shows that the market is over-exhausted in the last 24 hours
Given that the relative strength index (RSI), a momentum oscillator measuring the speed of price movements, is close to 34.6 for Bitcoin, it shows that the market is over-exhausted in the last 24 hours. The low Bitcoin RSI and Williams Percent Range, which also determine the momentum of the market, show the extreme Bitcoin levels available in the market.
