Bitcoin

April

Material

<a href="https://en.coin-turk.com/famous-analysts-critical-statements-for-link-btc-and-ltc-will-price-predictions-come-true-again/" data-wpel-link="internal">Bitcoin</a>, the largest cryptocurrency, rebounded above the $38,000 level after achieving its best monthly candle close since April 2022. Despite the bears’ efforts, they could not trigger a sell-off before the monthly close. Data indicates that the closing was slightly above $37,700, and order book data from Material Indicators suggests that the offer liquidity maintained its intraday range, avoiding a last-minute sale. 
<h2 style="text-align: justify;" id="strong-what-s-next-for-bitcoin-strong">What’s Next for Bitcoin?</h2> 
Renowned crypto <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">analyst</a> Skew evaluated Bitcoin’s monthly close on his personal X (formerly known as Twitter) account. The analyst said, “A monthly close above $35,000 looks quite good,” and added that the crypto king could consolidate in the $35,000 to $39,000 range for a few weeks. 
<img decoding="async" class="aligncenter size-full wp-image-283250" src="https://coin-turk.com/wp-content/uploads/2023/12/Bitcoin-Mum.jpeg" alt="" width="2450" height="1178"> 
Skew pointed out that the main resistance in the monthly time frames is now at higher levels, with the first significant resistance at $47,000 and resistance beyond that around the all-time high of $69,000 recorded in 2021. 
Another crypto analyst, JT, commented on the monthly close, saying, “The monthly candle was perfect with a low candle body of $34,500; this is quite significant as the low candle body is higher than the previous high candle body. This is a sign of strength.” JT also noted, “Let’s not forget that this month closed $3,000 higher than the previous month, which is progress.” The analyst also emphasized that Bitcoin’s high timeframe price chart looks consistent and constructive. 
<h2 style="text-align: justify;" id="strong-bitcoin-s-price-range-has-a-significant-direction-strong">Bitcoin’s Price Range Has a Significant Direction</h2> 
Keith Alan, the co-founder of Material Indicators, highlighted the stubborn nature of the current range below $40,000, arguing that clearing this range of sellers is extremely important. Alan referred to the historical resistance/support (R/S) lines in play within the range. These support/resistance lines are as significant as those already cleared, such as the all-time high of around $20,000 recorded in 2017. 
Alan elaborated on his assessment by noting, “If you think <a href="https://en.coin-turk.com/bitcoin-faces-selling-pressure-despite-lower-than-expected-inflation-data/" data-wpel-link="internal">BTC</a> is wandering around an arbitrary price, you are mistaken. There is a significant crowd in this small R/S range.” 
<img decoding="async" class="aligncenter size-full wp-image-283251" src="https://coin-turk.com/wp-content/uploads/2023/12/Bitcoin-Seviyeler.jpeg" alt="" width="1919" height="1037"> 
Alan also shared a chart, indicating the levels to watch on the monthly chart with long and short signals from one of Material Indicators’ proprietary trading indicators. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-rebounds-above-38k-a-positive-outlook-for-the-crypto-titan/" data-wpel-link="internal">https://en.coin-turk.com/bitcoin-rebounds-above-38k-a-positive-outlook-for-the-crypto-titan/</a>

Bitcoin Rebounds Above $38K: A Positive Outlook for the Crypto Titan

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