Bitcoin's SMAs across different periods have converged in a narrow range, signaling potential volatility and expectations for a price surge.
Market uncertainty persists as 63 US banks are close to insolvency, reflecting a 21% increase in the 'Problem Bank List' in Q1 2024.
Bitcoin is trading above the three SMAs at $70,840, seen as a 'Strong buy' by TradingView, with a positive outlook if the price drops.
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