NEWSLETTER
bitcoin (btc) observed new April maximums at the Wall Street Open on April 15 amid skepticism about the btc price force.
btc/USD Table 1 hour. Source: cointelegraph/tradingView
bitcoin Price faces multiple resistance obstacles
Co -Intelegraph Markets Pro and Commercial view btc/USD showed seeking to break $ 86,000.
The force continues during the weekend had established the couple for an attack at levels closer to $ 90,000, these absent since the beginning of March.
Concerns about macroeconomic volatility, with the United States trade war in their center, prevented market participants from calling at the end of the correction of the bitcoin upward market.
“It's fun to see the change of feeling so fast, just a few days ago, everyone asked for 50k, now they rush the first green candle. This emotional roller coaster is exactly why most merchants lose money,” wrote the commercial resources Stockmoney Lizards in part of their <a target="_blank" data-ct-non-breakable="null" href="https://x.com/StockmoneyL/status/1911876623785463833″ rel=”null” target=”null” text=”null” title=”null”>Last analysis In x.
“While short -term impulse seems optimistic, we still face multiple resistance obstacles before confirming that correction is complete.”
btc/USDT TRADA PERPENTAL CONTRACT OF 2 DAYS. Source: Stockmoney Lizards/x.
Stockmoney Lizards saw a btc RangeWound price action continuing before a new long -term resistance test about $ 100,000.
“My perspective remains cautiously optimistic: I expect to continue with a range between 78-88K for several weeks, since bitcoin builds energy for its next movement,” they predict.
“Once we cleared the 97K zone, the road to 110k+ becomes much more viable at the end of summer.”
Brandt: btc Trendline Break is not “trend transition”
A key topic of conversation between merchants was an attempt to advance btc prices focusing on a line of downward trends.
Related: Can the 3 -month maximum bitcoin RSI counteract the btc 'seasonality bearish price?'
As Cointelegraph reported, this has been in force since btc/USD established its current maximums of all time in January. Now, its status as resistance seems to be decreasing.
He did not break a multimanth descending trend for $ 86k, he wants to challenge for a higher maximum of about 200 mA ”, popular Trader Superbro <a target="_blank" data-ct-non-breakable="null" href="https://x.com/SuperBitcoinBro/status/1911998285792891196″ rel=”null” target=”null” text=”null” title=”null”>summarized In part of a recent x update.
Superbro referred to the 200 -day simple mobile average (SMA), a line of classical bullish market support, currently at $ 87,566.
“If the HH is successful, which is probably IMO, then you can return on an HL anywhere above the bass before the wedge target over $ 100K,” he added.
However, not everyone was convinced that breaking down the trend would mark a decisive moment for bitcoin bulls.
For veteran merchant Peter Brandt, you can't get anything to observe the behavior of prices around the trend line.
“Of all the construction of graphics, the lines of trend are the least significant,” <a target="_blank" data-ct-non-breakable="null" href="https://x.com/PeterLBrandt/status/1912116121781645756″ rel=”null” target=”null” text=”null” title=”null”>said x followers in the day.
“A rape of the trend line does not mean a $ btc trend transition.”
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
