Bitcoin Price Predicted – Cryptocurrency investors looking for evidence that the Bitcoin (BTC) bear market is ended may now have it.
According to an analysis by cryptocurrency specialist Trader Tardigrade on April 26, Bitcoin has finally broken out of its bearish trend after holding firm support above the $27,000 level following days of bearish price activity.
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For some time, the cryptocurrency has been settling above its upper trendline and gaining strength to withstand any remaining selling pressure. This resulted in an expanding triangular pattern, which, according to trader tardigrade, is a blatant indication of a bullish trend reversal.
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“Bitcoin bear market ends with an expanding triangle. After building up a consolidation above the upper trendline (green circle), in order to absorb all the remaining selling pressure, BTC will take off.”
Bitcoin Nears Next Resistance Level as Price Continues to Climb
A positive trend has been spotted in the Bitcoin charts by Michal van de Poppe, another well-known cryptocurrency expert. His research indicates that Bitcoin has maintained its position above $27,000, breaking above the significant resistance mark of $27,800. This has made it possible for the digital currency to resume trading within its previous range.
Van de Poppe thinks that $28,800 should be the next resistance level to keep an eye on. He forecasts that Bitcoin will likely continue its upward trend and hit $30,000, barring a temporary period of consolidation. According to his most recent study, Bitcoin might be in line for a significant recovery, which would be advantageous for investors seeking a potential investment opportunity.
#Bitcoin did continue to hold the box at $27,000 and broke above the crucial breaker of $27,800 -> back in the range.
Next resistance is $28,800. If we'll have a slight consolidation, it seems likely that we'll continue moving upwards to $30,000. pic.twitter.com/KYRTp37K13
— Michaël van de Poppe (@CryptoMichNL) April 26, 2023
Analyzing the Latest Trends and Factors Affecting Bitcoin Price Movement
Over the past week, the price of Bitcoin has experienced tremendous short-term volatility. Despite this, the digital asset’s market valuation, which is currently $555 billion, is still astounding.
According to the most recent price action data gathered by Finbold, the price of Bitcoin has increased moderately during the previous 24 hours by 4.87%, reaching $28,674.
However, this comes after a week-long decline of 2.14%, showing that there is still some price volatility in the cryptocurrency.
Oklo Adiga
My name is Oklo Adiga and I am a blogger that loves writing. I am ambitious and driven, I thrive on challenges and constantly set goals for myself. Always feel free to reach out to me if you have any questions or if you just want to connect.