Bitcoin’s sharp recovery suggests that traders are seeking safety in cryptos fearing a US banking contagion.
on March 13, covering a large distance from the $19,549 local low hit on March 10.
The index could gain momentum after buyers thrust the price above the 20-day exponential moving average . There is a minor resistance at 4,078 but it is likely to be crossed. The index may then soar to 4,200. If the price turns down and plummets below the support near 101, the index will complete a head and shoulders pattern. This bearish setup could start the next leg of the downtrend.
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