Bitcoin

April

when

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) remains near $66,000 due to waiting sellers restricting price action.</li>
 <li>Liquidity and Bollinger Bands conditions suggest potential for a significant BTC price move.</li>
</ul>
<p>Bitcoin’s price has been hovering around $66,000 as of April 23, with sellers keeping the price action under control. The BTC/USD trading range has remained stable since the weekly close.</p>
<p>Although the price is higher than the previous week, it offers little incentive for bulls. An overnight rally to $67,200 failed to close a nearby CME Group Bitcoin futures gap.</p>
<h2 id="btc-price-targets-and-key-levels">BTC Price Targets and Key Levels</h2>
<p>Combined with another gap lower at $64,400, these form near-term BTC price targets that are yet to be hit. Trader Marco Johanning has identified $66,700 as a crucial level for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> to flip to support.</p>
<p>Johanning suggested two possibilities based on the market’s response to the $66,700 mark: flipping it and heading towards the old trendline and range high, or getting rejected at it and falling back to midrange. Both scenarios assume the short-term trend will continue.</p>
<h2 id="liquidity-landscape-and-bollinger-bands">Liquidity Landscape and Bollinger Bands</h2>
<p>The current liquidity landscape on exchange order books shows bids and asks closely wrapped around the spot price. CoinGlass confirmed that $66,000 and $67,350 formed the biggest support and resistance levels, respectively.</p>
<p>There is anticipation for a larger BTC price move due to changing Bollinger Bands conditions on 3-day timeframes. The Bands’ width is the narrowest since mid-February, when BTC/USD last traded below $50,000, indicating a potential range breakout.</p>
<p>The behavior of the Bollinger Bands for BTC price action suggests an upside “squeeze,” which could soon become reality.</p>

Bitcoin’s Bollinger Bands Reach a Milestone, Signalling Potential Surge Beyond $50K

Inhoudsopgave

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