Bitcoin (BTC/USD) Price Is Lowering, Conjecturing a Base
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Bitcoin Price Prediction – April 17
It has been significantly demonstrated that the process that could let bulls regain their stances in the BTC/USD trade against bears has not been gaining a healthy weight, given that the crypto business is presently lowering and conjecturing a base reconstruction move around the point of $60,000.
If the correction movements that have taken center stage in the exchange lines continue, it would be a shocking move that would eventually see the price of the cryptocurrency drop much lower, to a support level of $50,000. However, given that the cycle of rebounding has been garnering a lot of attention this month, that scenario might not offer a highly technical arrangement setup to achieve excellent shorting entry.
BTC/USD Market
Key Levels:
Resistance levels: $70,000, $75,000, $80,000
Support levels: $55,000, $52,500, $50,000
BTC/USD – Daily Chart
The BTC/USD daily chart reveals that the crypto market is lowering, conjecturing a low around the point of $60,000.
The Bollinger Band trend lines are positioned at higher trade zones, with their lower part being relatively stretched by the reactions of sellers. Variant low-falling forces have been made on the feature of candlesticks to denote that some falls are in place. The stochastic oscillators are in the oversold region, denoting that a consolidation movement is tentatively going on.
As there has been a correction in the price of Bitcoin over USD, should sellers freely execute shorting orders at $60,000?
It might not be too safe for sellers to continue to execute selling position orders below the point of $60,000, as the BTC/USD market is lowering, conjecturing a base even around the point mentioned.
Upon noticing a tiny upward spike signal, long-position movers with substantial equity may start to introduce a portion of their money to the smallest lot size. In order to run long-term, they will need to abandon their position and pay attention to the stochastic oscillators heading upward.
In the event that short-position movers in the Bitcoin/USD market manage to regain decent entry, the middle Bollinger Band trend line will be a more useful tool, particularly around the $70,000 resistance level. To provide a clear indication of a shorting order, there must be some pulls toward or toward the value line, together with rejection signals at the top end of the candlestick’s development.
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart shows that the crypto market is lowering and conjecturing a base reformation around $60,000.
The Bollinger Band trend lines have managed to briefly bend southbound to connote that boundaries of getting back rebounds are being formed. In order to acquire a curved shape on the south side beyond the line of 80, the stochastic oscillators have veered upward. Psychologically, it would be acceptable to wait for index bounces before placing a buy order.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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