Bitcoin (BTC) is approaching $ 50,000 again today, April 29, 2021. The bulls fail to break the resistance of $ 55,000 on a lasting basis.
An exceptional red in 6 years
After peaking at $ 55,603 on the evening of yesterday, April 28, 2021, Bitcoin loses the $ 55,000 and begins a descent that takes him to $ 52,603 at the time of writing.
The BTC is currently recording a daily loss of 4.08%, a daily decrease of $ 2,235.
Bitcoin closed the day yesterday with a daily doji. The indecision of the markets gives way to a red candlestick today.
The bulls are missing an opportunity to confirm the strength of the rise that began on April 26, 2021. Bitcoin is “well” on the way to closing April 2021 in the red, for the first time in 6 years.
The BTC had yet reached an ATH above $ 64,700 during that month.
Elon Musk’s toy
According to data from Glassnode, the 7-day moving average of miner outflow volume hit a 4-month low at 49.893 BTC.
Minors are accumulating Bitcoins, the Miners Net Position Change Index is largely in the green.
Who therefore exerts the strong pressure to sell at the level of 55 000 $ stopping the bullish recovery of Bitcoin Start of the week ?
The BTC again seems to need strong institutional support to relaunch the running of the bulls on a lasting basis.
Rumors about the detention of Bitcoin through Facebook were denied after the social media giant released 16 Q1 2021 financial statements.
You’re here and Elon musk today hold Bitcoins. Elon musk indicated that he intended to HODler his BTC and that he hasn’t sold any yet.
You’re here on the other hand liquidated 10% of its stock of BTC to profit from his investment a few months earlier and to prove the liquidity of Bitcoin, according to Musk.
The CEO of Barstool Sports, David Portnoy, who is a HODler BTC, had accused Musk pump-and-dump in the markets BTC.
Could BTC close April 2021 below $ 50,000? The $ 70,000 so hoped for during this month seems a long way off. And what about PlanB’s $ 92,000 BTC forecast? Even MicroStrategy seems to have been on the sidelines for weeks. Will the beautiful weather return soon?
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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.