The worst April in the history of bitcoin is over; Levels to watch in the new month



The 30 days we went through are the worst April in bitcoin history, while April was one of the best months on the market in the past; But for the new month, given the changes we have seen in recent weeks, what will be the price trend and what is the most important price support?

According to the Coin Telegraph, bitcoin is currently in a very important position in terms of price for holders of this digital currency. With the closing of the monthly price candle and the beginning of May, retailers are considering possible options for the new month, and there are some surprising points among these forecasts.

Analysts in the bitcoin and digital currency markets rarely agree. But what everyone expected this week was intensifying price volatility on the eve of Kendall’s closure in April.

As the Gregorian calendar and early May holidays approach, the instability we have seen over the past few days may be exacerbated by the closure of financial markets and declining trade volumes.

The situation in other financial markets is not in favor of bitcoin, and on April 29 (May 9) most major stock indices, with the exception of the Chinese stock market, fell.

Cryptotoad, a digital currency market analyst on Twitter, said:

Special feedback for Kendall [ماهانه] There is no bitcoin, except that it is still above the support of the last few months (of course, this situation may change today). Next month, bitcoin support will be $ 35,000.

In April, bitcoin lost about 15% of its value, and as you can see in the image below, the 30 days we went through were the worst April in the history of bitcoin.

The worst April in the history of bitcoin is over;  Levels to watch in the new month
Execution of the price of bitcoin every month from previous years.

The bitcoin market has so far not allowed prices to fall below $ 37,500; But like CryptoTod, other analysts expect this level to be broken in the short term.

Jordan Lindsey, founder of JCL Capital, says $ 35,000 is one of the two main pillars of bitcoin.

Lindsay says:

There are currently only two main levels in the bitcoin chart. $ 35,000 is the channel’s support in the bitcoin chart, and reaching a price below that level is a serious obstacle. As long as Bitcoin maintains its support above the $ 38,000 support formed on February 4, the market will be technically rising and as long as the $ 35,000 support is not broken, market conditions will be neutral. Other events will not matter.

The worst April in the history of bitcoin is over;  Levels to watch in the new month
Bitcoin price chart; Lindsay’s analysis of the 8-hour bitcoin / dollar market outlook.

If the $ 35,000 support continues to be lost, the risk of the price of bitcoin falling to the $ 30,000 target will increase. Analysts cite the $ 30,000 level as the “final price” and expect the bitcoin market to reach that level by June.

Maintaining current support is the first condition for price recovery

Credible Crypto, another analyst in the digital currency market on Twitter, has a relative view and believes that maintaining support at $ 37,000 could put bitcoin in a better position.

He said:

If the price maintains its position at the same level, then the market must face a good recovery. As I said before, there are plausible reasons for both falling prices and rising prices, but given the wave structure of the market, we can give more value to the uptrend scenario. If the support of $ 37,700 continues to be lost, we will have to wait for the bitcoin to fall to the orange zone of the chart at $ 36,000.

The worst April in the history of bitcoin is over;  Levels to watch in the new month
Bitcoin price chart; Crypto crypto analysis of a 4-hour view of the bitcoin / dollar market.

The post The worst April in the history of bitcoin is over; Levels to watch in the new month appeared first in Arzdigital.

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