BTC April 28, 2022 – Dollar laughing, Bitcoin crying

Turn the dollar – Bitcoin (BTC) is currently escaping the worst bearish scenario that puts its price at $ 35,000 or even $ 30,000. It even manages to go up a symbolic level. Are all the lights green for the oxen?

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Bitcoin at $ 40,000: The dollar lockout remains strong

The price of bitcoin amounts to about $ 40,365 at Bitfinex today, April 28, 2022. However, it is struggling to stay above $ 40,000. Bitcoin trades at $ 39,890 at the time of writing this article, and is currently experiencing a daily gain of 1.98%.

Are markets witnessing the start of a bullish recovery? The rise of bitcoin could be stopped by the US dollar (DXY) which reached its highest level since 2002 – or more than 20 years.

Trader Michaël van de Poppe specifies that a bearish investment in the dollar is needed for bitcoin to “do very well.”

Published by Michaël van de Poppe – Source: Twitter

At the same time, it offers a $ 43,000 testif the support around $ 38,700- $ 39,000 “is for Bitcoin”.

A possible $ 43,000 test for bitcoin (BTC)?
Published by Michaël van de Poppe – Source: Twitter

Cryptography trader Ed is more cautious in his predictions. In fact, he expects “a strong break and a $ 40.6 thousand recovery before “considering higher goals”. He notes that “graphics” are currently “mostly downward-oriented.” In terms of “liquidity,” Crypto Ed believes that “upward pressure” will “drive out the shorts.”

Is a $ 40,600 break needed for a continued rise in the price of Bitcoin (BTC)?
Crypto Ed Post – Source: Twitter

But what if the opposite happens and we see that the price of bitcoin crashes instead of recovering the previous key levels above $ 40,000? Whale map analysts point $ 25,000 – $ 27,000 as land to see, based on a bitcoin price map. This price range would be “the perfect place to invest in bitcoins if we never get there.”

The minimum price of $ 25,000 to $ 27,000 for bitcoin (BTC)?
Whalemap Post – Source: Twitter

Therefore, the markets are waiting for a bearish investment of the dollar, to expect to witness a bullish investment of bitcoin. Recovering $ 40,000 could be a bullish signal, or just a rebound in the big red candle markets of two days ago.

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