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Downward Pressure Is Increasing on the Price of Bitcoin. Is a Pullback to Test the Support at $25.2K Approaching?

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Downward Pressure Is Increasing on the Price of Bitcoin. Is a Pullback to Test the Support at $25.2K Approaching?

The OPEC+ announcement of April 2, 2023, will add downward pressure on the markets.

Sylvain Saurel
Apr 3, 2023
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Downward Pressure Is Increasing on the Price of Bitcoin. Is a Pullback to Test the Support at $25.2K Approaching?

inbitcoinwetrust.substack.com
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In the absence of a monthly close in March above the monthly resistance at $28.8K, we could hope yesterday, April 2, 2023, for a weekly close above the resistance at $28.5K which is an obstacle to Bitcoin's current upward movement towards $30K.

I won't keep you in suspense, as you should have already noticed today by looking at the Bitcoin price that this was not the case:

Bitcoin saw its price close at $28.2K weekly.

And behind that, an announcement from OPEC+ member countries added pressure with long liquidations that sent the Bitcoin price below $28K with a low hit at $27.5K on April 3, 2023.

So what is this announcement from the OPEC+ countries?

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© 2023 Sylvain Saurel
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