Bitcoin April 12, 2022 – Even Worse Than $ 30,000?

A fund of less than $ 30,000 – Bitcoin (BTC) remains below $ 40,000. On the one hand, markets are trying to predict the worst-case scenario. They are also trying to identify key supports for a possible strong rebound above $ 40,000.

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Bitcoin below $ 40,000: $ 27,000 as a solid

The price of bitcoin is making in raid in excess of $ 40,650 on Bitfinex today, April 12, 2022. However, Bitcoin does not stay above $ 40,000, but continues to trade above $ 39,000. He quotes at $ 39,596 at the time of writing. Markets are undecided and are entitled to one doji daily.

Merchant Michaël van de Poppe pointed out the importance of the $ 38,000. If the latter breaks, wait for down to $ 32,000. However, if bitcoin manages to stay above that support at $ 38,000, then it would have the potential to increases to $ 42,000 from here “.

Published by Michaël van de Poppe – Source: Twitter

Whale map analysts have also defined it the $ 38,400 as “the new closest support to the chain” in view of the mapping of whale actions. He $ 27,000 it would be the point of “maximum pain.”

A drop to $ 27,000 per bitcoin (BTC).
Whalemap Post – Source: Twitter

Therefore, the outlook does not rule out a reconquest of $ 40,000 or more, or a fall below $ 30,000. Trader Rekt Capital’s analysis also points in this direction. They shared a weekly chart of bitcoin prices. It is reported that the cryptocurrency is currently testing the “upper multi-month minimum”, the diagonal green line in the following graph.

A diagonal bullish support for bitcoin (BTC).
Rekt Capital publication – Source: Twitter

According to Rekt Capital, Bitcoin should stay above this support line, “per challenges the level of ~ $ 43100 again “This $ 43,100 recovery is needed if bitcoin wants to have a chance to get back on track. $ 43100- $ 52000 “.

Should the current fall below $ 40,000 be seen as a breakout or a bearish continuation for bitcoin? A break of $ 38,000 will have at least the merit of clarifying the situation, which would be in favor of the bassists. The expectation of a very short-term bullish recovery remains as long as Bitcoin stays above that level.

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