Bitcoin (BTC) holds above $ 54,000 today, April 28, 2021. Bulls face pressure from bears at $ 55,000.
Maintenance in the absence of confirmation
Bitcoin peaks at $ 55,636 on Bitfinex today. The BTC then went down to $ 54,071.
Bitcoin went back and forth on either side of the $ 54,880 during the day. It is trading at $ 54,885 at the time of writing.
The BTC Currently registering a very slight daily increase of 0.03%, or a mini daily profit of $ 15.
Markets are undecided after the sharp rise on April 26, 2021, followed by yesterday’s daily green candlestick, April 27, 2021.
By closing with another green candlestick on today’s day, the bulls would confirm a bullish rally that would increase hope for a BTC close to $ 60,000 at the end of April 2021.
This rise would also make it possible to end the month in the green like the previous 6 months.
Waiting for a release factor?
Bitcoin is currently facing resistance at the $ 55,000 level. The weekend’s “big clearance sale” was a buying opportunity for institutions and whales eager to accumulate BTC at lower prices.
The recovery at the start of the week was strong, quickly absorbing the losses accumulated over the previous 4 days. The bulls, however, are once again facing heavy pressure from the bears halfway between $ 50,000 and $ 60,000.
The dominance of Bitcoin fell, falling slightly below 50%. TheEther take the opportunity to progress and reach a new ATH at $ 2,680. Analysts expect this rise inETH continues for the next few weeks.
The daily RSI (14) of Bitcoin is approaching 50 again. BTC stay in a neutral zone; a factor exogenous to the markets could tip the balance in favor of bears or bulls before the monthly close.
The bulls stole the month of March 2021 from the bears, as historical data shows that the latter have dominated the markets during this month for years. The bears could take their revenge in April 2021, a month of April which is historically bullish. The current indecision could lead to a rise or fall within the next 24-48 hours. Winning the $ 60,000 has not been easy in the past. Why would she be any different this time around?
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The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.