CoinPrice

  • Market Cap: $890,381,227,477.05
  • 24h Vol: $38,848,819,335.13
  • BTC Dominance: 37.05%

These are the BTC price levels to observe as Bitcoin risks worst Apr on record

Bitcoin price action is down 15% this month while April should historically bring gains. Bitcoin (BTC) is at a historically important price point for Hodler, but where could it go in the coming days? As the monthly shutdown looms and several countries gear up for the May holidays, traders are planning their options with some surprises in store. $35,000 Becomes the Main Focus While bitcoin market commentators rarely agree on much, one thing is more or less accepted this week and that April monthly close will be volatile.Due to the weekend, this volatility can be exacerbated by a lack of trading volume as markets are closed for the weekend or long weekend. However, even with the macro involvement, the situation does not seem to favor bitcoin bulls. As Cointelegraph recently reported, all major indices ended in the red except for China on April 29. “Nothing bullish about this candle except that it’s still above monthly support (but that could change by today),” popular Twitter trader Cryptotoad summarized as part of its latest update:

“Support next month at $35,000.

So far, April has delivered 15% losses in BTC/USD, the worst month of April in the history of Bitcoin, data from chain monitoring resources.“The only two levels that matter in bitcoin right now. $35,000 is channel support and below that is a major technical glitch. Technically, the price is bullish from $38,000 posted on this account on Feb 4 and neutral from $53,000 breakout. Everything else was noise,” he told his Twitter followers on April 29.

BTC/USD has, so far, controlled to keep away from a drop underneath liquidity at around $37,500, however Cryptotoad isn’t the simplest one arguing that this may now turn out to be a near-time period chart focus. Jordan Lindsey, founding father of buying and selling corporation JCL Capital, flagged $35,000 as one in all what he sees as simply important “massive technical ranges.” “The simplest ranges that depend now in Bitcoin. $35k is channel help and underneath is main technical breakdown. Price is technically bullish since $38k on Feb 4th published in this account and impartial since $53k breakdown. Everything else has been noise,” he advised his Twitter fans on April 29.

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