Битцоин (BTC) showed signs of recovery from an overnight rout on April 1 after the Ides of March caught up with bulls at the last minute.
Bitcoin faces “pivotal” moment
Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев showed BTC/USD passing $45,500 on April 1’s Wall Street open.
The pair had dipped to near $44,000 into the March monthly close, the pullback fuelled by a combination of macro factors and actions by large-volume wallets.
European stocks suffered on the day, thanks to Russia threatening to cut off gas supplies while a vote by European Union lawmakers to забрана “unhosted” wallets further soured the mood.
While failing to spark a deeper retracement towards $40,000, the triggers left Bitcoin short of its all-important yearly open at $46,200 at the time of writing. This, in turn, left the door open for a return of the trading range in force since the beginning of 2022 with the yearly open as its ceiling.
“If we are supposed to go down, I think it’ll happen from here,” trader Crypto Ed summarized alongside a chart showing bullish and bearish continuations.
#БТЦ update from video
If we are supposed to go down, I think it’ll happen from here.Bullish alternative in blue pic.twitter.com/xfx4euh7RP
— Ед_НЛ (@Црипто_Ед_НЛ) Април КСНУМКС, КСНУМКС
For popular Twitter account Material Indicators, short timeframes would be telling for the overall market trajectory.
Bitcoin had exited a rising wedge on the weekly chart, but had nonetheless failed to preserve the 50-week moving average (WMA) as support.
“Bitcoin is in a pivotal position,” it wrote (написано) на дан.
“BTC bulls lost the 50 WMA, but managed to reclaim the R/S flip above the structure. Volatility resides on either side of the range. Watching for the restests.”
April known not to disappoint
Unlike March, April is a historically successful month for Bitcoin, leaving this year with much to live up to.
Релатед: Биткоин „успаван“ 7+ година се померио непосредно пре него што је цена БТЦ-а пала за 5%
prema to data from on-chain analytics resource Coinglass, BTC/USD has never lost more than 3.46% in April, with maximum gains at 50%.
Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.
Source: https://cointelegraph.com/news/bitcoin-fights-for-support-as-btc-price-loses-46k-yearly-open