Bitcoin breaks a critical zone after Paul Atkins has taken a new position as President of SEC

This Monday, April 21, the Securities and Exchange Commission) officially announced that Paul Atkins was sworn in as his new president, as 34th who takes the position.

Atkins is a supporter of cryptocurrencies and is known for supporting his performance for the crypto sector. He was appointed by the current US President Donald Trump on January 20. As a new President of SEC, Atkins wants to prioritize the establishment of a clear and favorable regulatory structure for digital assets.

Paul Atkins has been a SEC commissioner and acted in the defense of market growth and stabilization of Bennet Funding Group, which generated returns to investors of almost 2,000%. When CEO of Patomak Global Partners, he encourages and supports the cryptocurrency market.

Based on this, the market reacted quite optimistic after the announcement. Your pro-criminal attitude can benefit the market by:

1. Greater regulatory clarity;
2. A lighter regulatory approach that may approve ETFs;
3. Coordination with a possible supervision transfer to CFTC, which is more favorable for cryptocurrencies;
4. Actions to increase the trust of investors, to promote the expansion of the world market.

By analyzing the current Bitcoin graph, we can see that the price broke the critical zone of US $ 87,500, shorts in more than $ 89,000 and the price increased by more than 5%.

There is a liquidity area almost $ 99,600; However, the price follows its natural trend, which took place after the break and confirmation of LTB (low trend line) in blue.

By analyzing the data about the chains from the graph below, it is noted that holders will leave in the short term (average of those who have bought BTC in the last 155 days).

The graph can be interpreted as follows:

• Orange track (above): Indicates that holders of short -term are very profitable and are considered a region of euphoria or top of the market.
• Blue back (below): It indicates that holders can no longer be accumulated in the short term.

At the bottom we have the SOP (published output profit ratio):

• If <1, it indicates loss.
• If> 1, profits indicates.

  

In the current interpretation of the price of Bitcoin (Black Line) we have noticed that it is above the blue range, but the MVRV-Sth (blue line) is still under 1, which shows a divergence in the indicator. This indicates that holders of short -term are still a loss because of the market value of BTCs that have been purchased to be below the purchase price.

This suggests an optimistic signal for the medium term.