Bitcoin 2

Bitcoin

<div class="finbold">
 <p class="paragraph">Market analysts are projecting further downsides for Bitcoin (BTC) in the coming days after the flagship cryptocurrency suffered sudden losses as risk assets react to escalating geopolitical tensions in the Middle East.</p>
 <p class="paragraph">In this context, market participants were hoping for Bitcoin to hold above the $70,000 mark, acting as an anchor for another potential record high, possibly surpassing the $100,000 mark.</p>
 <p class="paragraph">Regarding the next trajectory, crypto analyst <em>Alan Santana</em> pointed out in a <em>TradingView</em> post on April 14 that Bitcoin’s recent downturn may be just the beginning of a more substantial correction.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    UFC 300 victorious fighter wants the $300,000 bonus in Bitcoin <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Dogecoin <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> wavers as whales move; Brace for further DOGE drop? <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Ripple sells 100 million XRP as geopolitical tensions escalate <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    2 cryptocurrencies to reach $50 billion market cap in April <span class="self-center text-xs text-slate-500">5 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Santana’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, based on the monthly timeframe, noted that&nbsp; April marks the first time in Bitcoin’s history that it has experienced seven consecutive months of growth. However, with the month only halfway through, the expert suggested that a correction is imminent following such an extended bullish phase.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="579" src="https://cdn.thebittimes.com/images/2024/04/14/127c690bd494a0e6d714e5605598461d.webp" alt class="wp-image-168872" srcset="https://cdn.thebittimes.com/images/2024/04/14/127c690bd494a0e6d714e5605598461d.webp 1024w, https://cdn.thebittimes.com/images/2024/04/14/127c690bd494a0e6d714e5605598461d.webp 300w, https://cdn.thebittimes.com/images/2024/04/14/127c690bd494a0e6d714e5605598461d.webp 768w, https://cdn.thebittimes.com/images/2024/04/14/127c690bd494a0e6d714e5605598461d.webp 1110w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin price analysis chart. Source: TradingView/AlanSantana</em>
  </figcaption>
 </figure>
 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> indicates that Bitcoin’s correction could lead to significant price drops, with <em>Santana</em> setting a minimum target of $48,000 based on the monthly timeframe. He emphasized that while short-term bounces may occur, investors should prepare for sustained downward pressure.</p>
 <h2 class="wp-block-heading" id="h-price-targets-to-watch-nbsp">Price targets to watch&nbsp;</h2>
 <p class="paragraph">Moreover, the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> identified vital <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> <a rel="noopener noreferrer nofollow" title="levels" href="https://thebittimes.com/tag/levels.html">levels</a> to monitor during Bitcoin’s descent. The exponential moving average (EMA) at $40,000 (EMA21) and $30,550 (EMA50) are highlighted as crucial <a rel="noopener noreferrer nofollow" title="levels" href="https://thebittimes.com/tag/levels.html">levels</a> where Bitcoin could find reprieve or potentially establish stronger <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a>.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“For Bitcoin to close green, it would need to end the month above $71,300. Since we know this is the month that Bitcoin turns red, based on current action, we know that the remaining weeks can result in more lows, lower lows and lower prices as the correction unravels,” he said.&nbsp;</p>
 </blockquote>
 <p class="paragraph">As things stand, Bitcoin has <a rel="noopener noreferrer nofollow" title="support" href="https://thebittimes.com/tag/support.html">support</a> at the $60,000 mark and resistance at $65,000, with the market partly divided on what to expect. For instance, economist Peter Schiff, in an X (formerly Twitter) post on April 14, further cautioned that Bitcoin’s recent drop could point to additional losses in the coming days.&nbsp;</p>
 <p class="paragraph">The Bitcoin skeptic suggested that a breach of the critical $60,000 support level could lead to a sharp decline to $20,000 and see institutional investors such as MicroStrategy incur significant losses.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“$60K is critical support for #Bitcoin. A decisive break below that level will create a formidable triple top. The immediate downside projection is a move to $20K. At that price $MSTR will have a $2.7 billion unrealized loss on 214K Bitcoin acquired at an average price of $34K,” he said.&nbsp;</p>
 </blockquote>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="397" src="https://cdn.thebittimes.com/images/2024/04/14/6bf5260d2c4dfb3290ca2ad0cd083761.webp" alt class="wp-image-168873" srcset="https://cdn.thebittimes.com/images/2024/04/14/6bf5260d2c4dfb3290ca2ad0cd083761.webp 680w, https://cdn.thebittimes.com/images/2024/04/14/6bf5260d2c4dfb3290ca2ad0cd083761.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>Bitcoin three-month price chart. Source: TradingView/Peter Schiff</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">By press time, Bitcoin was trading at $63,838, marking a loss of over 5% in the last 24 hours. On the weekly timeframe, the flagship cryptocurrency has shed nearly 8%.</p>
 <figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="675" height="550" src="https://cdn.thebittimes.com/images/2024/04/14/0f8522ebe0587dd62928e08fc01471b9.webp" alt class="wp-image-168874" srcset="https://cdn.thebittimes.com/images/2024/04/14/0f8522ebe0587dd62928e08fc01471b9.webp 675w, https://cdn.thebittimes.com/images/2024/04/14/0f8522ebe0587dd62928e08fc01471b9.webp 300w" sizes="(max-width: 675px) 100vw, 675px">
  <figcaption class="wp-element-caption"><em>Bitcoin seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Despite the market projecting a bearish outlook for Bitcoin, it’s noteworthy that the asset still possesses key bullish catalysts, with the upcoming halving ranking at the top. In the short term, it will be essential to monitor how geopolitical tensions unfold in the Middle East.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-aims-lower-after-losing-strong-support-key-levels-to-watch-tbt85340.html">https://thebittimes.com/bitcoin-aims-lower-after-losing-strong-support-key-levels-to-watch-tbt85340.html</a></p>

Bitcoin aims lower after losing strong support; Key levels to watch

قائمة المحتويات

TheBitTimes

المزيد من المقالات نُشرت في ١٤ أبريل ٢٠٢٤

100x Meme Coins to Watch in April 2024: Bonk (BONK), Dogwifhat (WIF), Hump Token (HUMP)

Top Two Crypto Projects Worth Exploring: Scorpion Casino and Uniswap

CRV’s Latest Crash Threatens Curve Founder’s Lending Positions With Liquidation

MicroStrategy’s Michael Saylor Says ‘Chaos is Good for Bitcoin’ Despite $1.5B Loss

BEFE Coin on the Rise: Expert Claims $0.01 Price Prediction – Is It Too Good to Be True?

Revolutionizing Consumer Engagement: How Web3 Technology is Transforming Beauty and Fashion Brands

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.