Waiting for $40K? Bitcoin's critical level is already here, says new research
Support and resistance aside, it's all about the yearly pivot for Bitcoin price action, says Decentrader's Filbfilb. Bitcoin (BTC) is at a “pivotal” point and faces macro forces that could influence it for “months to come,” fresh research says.In its latest market update on April 8, trading suite Decentrader called for more attention to Bitcoin’s “yearly pivot” price.All eyes on the yearly pivotAfter giving $43,000 support two retests this month, Bitcoin has punctured market sentiment, having reversed direction near $50,000.The move below $46,200 — the opening price for 2022 — was....
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Bitcoin has seen a lot of sideways price action during this week but might be able to extend its gains and regain higher grounds. The cryptocurrency continues to trade in the green and seems to be showing signs of further short-term appreciation. At the time of writing, Bitcoin trades at $23,200 with 9% profits over the past week and 1% profits in the last 24 hours. Over the last week, Bitcoin has provided more clarity about its price direction. According to a report from Arcane Research, the cryptocurrency has managed to slowly break above the critical resistance levels at $20,000,....