Bitcoin April 5, 2022 – The 60% Upside Path

Moderately optimistic – Attempts to conquer $50,000 per bitcoin (BTC) are currently halted by the $47,000-$48,000 resistance zone. The decisive battle for bears and bulls, however, lies at lower levels.

The daily course of bitcoin (BTC) is brought to you in collaboration with the Included betweenDing du Coin and its algorithmic trading solution finally accessible to individuals.

In search of flip: 60% possible rise for bitcoin

Bitcoin price goes up up to around $47,175 on Bitfinex today, April 5, 2022. The bulls, however, fail to hold the price of the cryptocurrency above $47,000, and even $46,000. Bitcoin trades at $45,652 at the time of writing, and is currently recording a daily loss of 1.42%.

The YouTuber known as Crypto Rover reported that bitcoin is retesting the 200-day moving average “as support for the first time in 190 days.” He showed in a chart, that bitcoin “ increased by 66% within 43 days of the last time it happened! “. This average is currently in the $45,000-$46,000 range.

Crypto Rover release – Source: Twitter

Blockware analyst William Clemente also pointed to the fact that bitcoin is currently trying to turn resistance into the $44,000 area – $46,000 support.

Attempted to flip the $45,000-$46,000 support for bitcoin (BTC).
Posted by Will Clemente – Source: Twitter

Can bulls win this bullish bet? This month of April 2022, and more broadly this second quarter, will it be favorable to them?

Trader Rekt Capital showed in a chart, bitcoin closing “quarterly below mid-range resistance for three consecutive quarters.” Bitcoin did, however, “manage to form a lower high” during the month, which is above “the multi-quarter lower high” in the orange area in the chart below.

A promising quarter for bitcoin (BTC).
Publication of Rekt Capital – Source: Twitter

Markets are in for a routine with bitcoin fluctuating for several days in this $45,000-$47,500 range. Traders and analysts have their eyes on the $45,000-$46,000 battle, which can lead to either a transformation of this zone into essential support to be able to recross $50,000, or a bearish breakout.

Is it possible to be a winner every time? Whether the bitcoin price is in great shape, or going through turbulence, Coin Trading offers you to increase your chances of success. Indeed, Coin Trading allows individuals to access a trading tool algorithmic and 100% automated. Real trend mechanism, test this tool designed to adapt to market reversals and position yourself on the most dynamic crypto assets of the moment.

Leave a Comment