Bitcoin Analysis – 30.Apr.2024
Bitcoin Analysis: Upon reviewing the Bitcoin chart on a weekly (logarithmic) timeframe, we observe that the price is trading around $61,200. It might penetrate below $59,500 to gather more liquidity! Let’s examine the scenarios together: if the price stabilizes and closes below $59,500, we may see a further decline, possibly even a correction in Bitcoin down to $53,210. This would be the first attractive demand zone. The second appealing buying range would be between $38,600 and $43,000, which you should keep an eye on! Note that Bitcoin corrections are buying opportunities for those who missed out on the previous upward trend. The medium-term targets for Bitcoin are, in order, $77,000, $85,000, and $100,000.
(This Post on TradingView)
Author : Arman Shaban
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