BTC traded below the $40k psychological level for the past week, with low volumes. Weekends were turbulent as the asset suffered a Saturday fall and then recovered on Sunday. BTC has risen by 1.68% in the last 24 hours. It holds 42.25% of the market and is worth $736bn.
BTC traded at $38,678 as of the writing date.
BITCOIN fell below $38,750 (61.8% Fibonacci retracement level) and dropped down to $37,386. In the past, the asset has seen multiple support levels around $37,300 and it did the same this time. Technically, BTC is showing a falling wedge pattern on a daily chart. The RSI however has shown a positive divergence. The price can surge to $41k-$41.5k levels if it closes above the resistance line. A break below the support can lead to further decline and prices could fall to $37k-$35k levels. Key Levels:
Support 2Support 1AssetResistance 1Resistance 2$35,500$38,500BTC$40,000$45,500
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation, investment goals or needs of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, completeness, reliability, fairness, correctness, correctness, correctness, completeness, or reliability of the information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and Investments in cryptocurrencies viz. Bitcoin Cash, Ethereum, and other cryptocurrencies are highly speculative investments that are subject to market risk. Author’s analysis is intended to be used as information only and not as investment advice.
02-May-2022 ZebPay
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