Popular analysts of the cryptocurrency market have shared their weekly analysis for Bitcoin, while the leading cryptocurrency is trading around $ 29 thousand! So, what levels are next? Here are the details…
Critical levels have been announced for the leading cryptocurrency Bitcoin (BTC)!
cryptocoin.com As we have reported, the price of the leading cryptocurrency Bitcoin (BTC) continues to consolidate at the level of 29 thousand dollars. The leading cryptocurrency Bitcoin, which has been showing horizontal movements since March 20, does not show any direction trend momentarily. While the larger bullish outlook is still intact, a minor pullback could occur in the coming weeks. However, the Non-Farm Payrolls (NFP) event is scheduled to happen today and could be the trigger needed to start a directional move for BTC.
Bitcoin (BTC) price surpassed the $17,605 to $24,736 range on March 17 after consolidating for nearly nine months. However, the uptrend stopped shortly after and led to a tight consolidation around the $28,000 region. As mentioned above, this range narrowing in Bitcoin price may see a solution today after the NFP figures. The probability of a pullback to stable levels is the most anticipated outlook from Investors. If a pullback occurs, the first key level to re-accumulate is located at $24,736.
Beyond this level, investors can expect the Bitcoin (BTC) price to bounce off the breakout from $22,291 to $19,592. A bounce from this level is critical to sustaining the northward move, possibly labeling the $35,063 and $38,500 hurdles.
Experts suggest that until NFP is complete, investors stay away from trading due to the chaotic and unpredictable nature of the markets, and Macroeconomics suggests that once this event is over, the price of the leading cryptocurrency Bitcoin (BTC) will show its hand. With this, smart investors will emerge and benefit from the move, according to experts.
According to experts, if the pullback cannot exceed the breakout point between $22.291 and $19,592 and the daily candle close below $20,201 occurs, the bullish thesis for BTC price will also be invalidated. In such a case, it seems likely that BTC will decline by 12 percent to $ 17,605. According to experts, failure to hold above this level may cause the leading cryptocurrency to fall to the level of $ 15,588. This move could mean a 22 percent loss.
BTC price status
The leading cryptocurrency Bitcoin (BTC) is instantly traded at $ 27,935.04. The market capitalization of the leading crypto has decreased by 0.44 percent in the last 24 hours and declined to $ 540,028,939,952. Looking at the transaction volume in the last 24 hours, there is a decrease of 21%. The trading volume is instantaneously at $11,282,969,181.
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