These are the BTC price levels to watch as Bitcoin risks worst April on record

Bitcoin is tumbling, with April so far looking like the worst month on record for the cryptocurrency. Here are a few key price levels to watch as Bitcoin’s fate remains uncertain.

Register now on Binance, add 50$ and get 100$ bonus voucher!

The “ethereum price” is the most important cryptocurrency to watch in April. The ethereum price has been on the rise, and it could be the best month for Ethereum so far.

Bitcoin (BTC) is now trading at a historically significant price level for hodlers, but where may it go in the coming days?

Traders are laying out their choices as the monthly close approaches and several nations prepare for the May vacations – with some surprises.

$35,000 becomes a priority.

While Bitcoin market analysts seldom agree on much, one thing is almost universally agreed upon this week: April’s monthly closing will be tumultuous.

Due to the weekend, such volatility might be compounded by a lack of trading activity due to markets being closed for the weekend or a long weekend.

Even with macro involvement, the environment does not seem to be favorable to Bitcoin bulls. As reported by Cointelegraph, most indexes finished in the red on Friday, with the noteworthy exception of China.

“Nothing optimistic about this candle other than the fact that it’s still above monthly support (although that might change today”),” said prominent Twitter trader Cryptotoad.

“The next monthly assistance will be $35,000.” 

According to statistics from on-chain monitoring site Coinglass, April has seen a 15% drop in BTC/USD, making it the worst April in Bitcoin history.

These-are-the-BTC-price-levels-to-watch-as-BitcoinMonthly BTC/USD Returns Chart (screenshot). Coinglass is the source of this information.

Register now on Binance, add 50$ and get 100$ bonus voucher!

BTC/USD has so far avoided a collapse below $37,500, but Cryptotoad isn’t the only one saying that this might now become a chart emphasis in the short future.

Jordan Lindsey, the founder of trading business JCL Capital, identified $35,000 as one of just two crucial “large technical levels” he sees.

“The only two levels in Bitcoin that count right now. The channel support is $35k, and the primary technical breakdown is below. Technically, price has been bullish since $38k was reported on this account on February 4th, and neutral since the $53k collapse. Everything else has just been background noise “On Friday, he addressed his Twitter followers.

1651326012_501_These-are-the-BTC-price-levels-to-watch-as-BitcoinAnnotated BTC/USD chart. Jordan Lindsey/Twitter is the source of this information.

If that decline occurs, Bitcoin would be close to last week’s worst-case scenario objective of $30,000, which has been defined as both a “ultimate bottom” and a probable figure to hit by June.

“Decent alleviation” might come as a result of the spot level’s retention.

Meanwhile, another trader Credible Crypto had a more bullish stance, claiming that avoiding the sub-$37,000 plunge puts Bitcoin in a better position.

According to research, the $27K’max pain’ Bitcoin price is the ideal buy-the-dip opportunity.

“If we can hold here, we should see some significant respite,” he tweeted on Saturday, accompanied by a graph depicting the prediction.

“As of my latest update, I see strong grounds for both, but owing to wave shape, I prefer the bullish scenario. If we touch 37.7k, anticipate a flush into the orange zone and 36k’s.”

BTC/USD was trading around $38,600 at the time of writing, with about 12 hours till the closure.

1651326013_786_These-are-the-BTC-price-levels-to-watch-as-BitcoinAnnotated BTC/USD chart. Source: Twitter/Credible Crypto

The author’s thoughts and opinions are completely his or her own and do not necessarily represent those of Cointelegraph.com. Every investing and trading choice has risk, so do your homework before making a decision.

October is a good month for bitcoin, as the price has been rising steadily in recent weeks. Investors should keep an eye on these BTC price levels to see if it can continue its upward trend. Reference: is october a good month for bitcoin.

Related Tags

  • btc price april 2020
  • morgan stanley bitcoin price prediction
  • btc monthly close
  • plan b october bitcoin prediction
  • btc price may 2021

Register now on Binance, add 50$ and get 100$ bonus voucher!

Recent Articles

Tonga accepts Bitcoin donations amid tsunami onslaught

A small island of Tonga has been hit by a tsunami, and the country is calling for donations in Bitcoin. The nation’s Prime Minister...

How to Buy Solana (SOL) in India

It is important to know how you can buy SOL in India. It’s no secret that the Indian market has only recently begun to...

How to Buy Flow (FLOW) in India

Flow is a cryptocurrency that was introduced in June 2018. It uses the Ethereum blockchain platform, but has its own built-in digital currency called...

Moonbeam Goes Live on Polkadot, Becomes its First Fully Operational Parachain

Moonbeam, the world’s first fully operational on chain scaling solution was released into the wild this week. The Polkadot-powered platform aims to provide scalability...

Stacks ecosystem becomes #1 Web3 project on Bitcoin

The Ethereum blockchain, which powers the Stacks ecosystem’s token STX, has become the most important web3 project on Bitcoin. The announcement is a sign...

Related Stories