Bitcoin on April 25, 2022 – Nothing good in this rebound?

Solid or still not? Bitcoin (BTC) starts the last week of April 2022 with a rally that could prove crucial, or just be an insignificant foray. The weakening of the greenback could be the long-awaited signal for the bulls.

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

Bitcoin Above $40,000: Simple Corrective Bounce?

The price of bitcoin rises above $40,000 today, April 25, 2022. Bitcoin trades at $40,128 at the time of writing, and is currently seeing a daily gain of 1.53%.

Is the current rise strong enough or will this re-conquest of $40,000 be short-lived? With bitcoin still trading below $40,000, trader Michaël van de Poppe issued a bullish outlook, despite “everyone” being “afraid of further downward pressure.”

Michaël van de Poppe highlighted the strength of the support zone around $37,000-$39,000. He believed that the sweeping floor prices in this range “would be a potential trigger for some upward momentum “.

Publication by Michaël van de Poppe – Source: Twitter

Michaël van de Poppe also wonders if he is time for the dollar (DXY) to “correct”. He thus returns to this hypothesis of a negative correlation between the price of bitcoin and the price of the dollar.

Crypto trader Ed was also anticipating a rise, with a bitcoin rising to $41,500, while bitcoin price was still trading below $40,000. Such an increase would, however, “always be considered as a corrective rebound “.

A rise towards $41,500 for bitcoin (BTC)?
Publication of Crypto Ed – Source: Twitter

But what would happen in the event of yet another loss of $40,000? Trader Rekt Capital shared a weekly chart of bitcoin price, to show that former resistance above $38,000” becomes a new weekly support “.

The $38,000 as weekly support for bitcoin (BTC).
Publication of Rekt Capital – Source: Twitter

Bitcoin could therefore continue in the very short term, its run to $41,500 or return below $40,000, with relatively solid support at $38,000. Are the markets ultimately wrong to fear this inevitable relapse to the lowest levels of the year?

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