Past Performance of #Bitcoin
Following gains of April 18, Bitcoin bulls added to their longs yesterday, pushing prices above the
41K level. Based on the formation in the daily chart, BTC bulls may find support in the short term. Still, since #BTC prices are inside the trend-defining bear bar of April 11, traders may have to wait and check how prices react at April 11 high. A comprehensive close above this mark may be the base for possibly another swing towards $44.5k or better in the short term.
Bitcoin Technical Analysis
#Bitcoin has support at spot rates as BTC trades at a one-week high, above a $2k range. The current formation seems to favor bulls though sellers are technically in control from an effort versus result perspective. Aggressive traders may load on dips as long as prices are above
39K, with targets at 
42K in the short term. Further gains may offer entries for risk-averse traders targeting $44.5k and later $48.5k. If not, and prices cool off below 39K, BTC may slide to $38k and $33k in a bear trend continuation pattern.
What to Expect from Bitcoin?
Bitcoin is inching higher after a six-day sideways movement inside the April 11 bear bar. Even though bulls are confident, sellers are in control, provided BTC is below $42.5k.
Resistance level to watch out for: $42.5k
Support level to watch out for: $38k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Following gains of April 18, Bitcoin bulls added to their longs yesterday, pushing prices above the
41K level. Based on the formation in the daily chart, BTC bulls may find support in the short term. Still, since #BTC prices are inside the trend-defining bear bar of April 11, traders may have to wait and check how prices react at April 11 high. A comprehensive close above this mark may be the base for possibly another swing towards $44.5k or better in the short term.Bitcoin Technical Analysis
#Bitcoin has support at spot rates as BTC trades at a one-week high, above a $2k range. The current formation seems to favor bulls though sellers are technically in control from an effort versus result perspective. Aggressive traders may load on dips as long as prices are above
39K, with targets at 42K in the short term. Further gains may offer entries for risk-averse traders targeting $44.5k and later $48.5k. If not, and prices cool off below 39K, BTC may slide to $38k and $33k in a bear trend continuation pattern.What to Expect from Bitcoin?
Bitcoin is inching higher after a six-day sideways movement inside the April 11 bear bar. Even though bulls are confident, sellers are in control, provided BTC is below $42.5k.
Resistance level to watch out for: $42.5k
Support level to watch out for: $38k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.