bitcoin price prediction

Bitcoin was down 3% on Thursday, ended the day at $45.7K. On Friday morning, the pressure has continued, taking the price down 4.6% to $44.8K. Bitcoin: March-April BTC ended last moth lower amid falling US stock indices. In total, BTC added 10% and demonstrated strength for the second month in a row. Historically, April is considered to be one of the best months for the benchmark crypto: during the past 11 years, Bitcoin gained in April eight times and declined only three times respectively. If Bitcoin shows the same growth this time, it could end the month around $576K. The FxPro Analyst Team emphasised that the local picture on the chart shows the advantage of bears, who managed to keep BTCUSD above the 200-day moving average. It will be possible to talk about the final breakdown of the growth momentum if BTCUSD finally falls below $44K. It should be mentioned that April is also a strong month for stock markets. Puttiung all together, the new month begins with optimism and the mood to look for a moment to buy on a decline, especially given the dense influence of institutional sentiment on the dynamics of the first cryptocurrency. Kiyosaki  predicted the dollar collapse According to CoinMarketCap, the total capitalization of the crypto market decreased by 4.5% to $2.05 trillion. The Bitcoin dominance index fell 0.1 points to 41.4%. The fear and greed indicator rolled back exactly to the middle of the scale and stopped at 50 points. Ethereum lost 4% during last 24 hours. Other leading altcoins from the top ten sank from 4.4% (XRP) to 7% (Polkadot). The exception was Solana (+0.5%), which continued to grow as the OpenSea NFT platform had added support for tokens on the SOL blockchain. Amongst the news, a legendary writer and investor Robert Kiyosaki warned of a "sky-high" US national debt and predicted collapse of the dollar. Keeping that in mind, he urged to invest in alternative assets:  gold, Bitcoin, Ethereum, and Solana. It should be noted that Kiyosaki has repeatedly predicted the collapse of the dollar, but his predictions have not yet come true.

Bitcoin bulls held prices above the 500 day moving average at 43600 for a buy signal targeting 46600/800 & the 200 day moving average at 48100/300. A high for the day exactly here & shorts here worked perfectly on the collapse from 48226 to 45800/600 & support at 44200/44000 for an easy 4000 pips. Ripple collapsed from just below very strong resistance at 9140/9160 & broke first support at 8450/00 yesterday to hit the next target of 8050/8000 before a low just 100 pips above support at 7700/7650. Ethereum made a high for the week exactly at key resistance 3450/3500. Shorts worked perfectly on the collapsed as far as support at 3210/3190. Longs need stops below 3150. Update daily by 06:00 GMT Today’s Analysis Bitcoin tests the best support for today at 44200/44000. Longs need stops below 43500. A break lower is a sell signal targeting 42000/41500. This is the last line of defence for bulls – a break below 41000 is a medium term sell signal, initially targeting 40000 & the March low at 37500/37000. Strong resistance at the 200 day moving average at 48100/300 over the weekend. Obviously bulls need a break above 48700 for a buy signal. Ripple holding above 8100 today allows a recovery to first resistance at 8400/8500. If we break higher look for 8730/50, perhaps as far as 8850. Further gains retest very strong resistance at 8950/90. Holding below 8050 tests support at 7700/7650. Longs need stops below 7600. A break lower is a sell signal targeting 7400/7350 then 7000/6950. Ethereum tests support at 3210/3190. Longs need stops below 3150. A break lower targets 312010 then very strong support at 3050/10. :ns 2950. A break below 2850 is a medium term sell signal. Key resistance at 3450/3500. Shorts need stops above 3550. A break higher is another buy signal targeting 3620/30 & 3710/40. Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk

Bitcoin rose 4.3% on Wednesday to end the day around $41,300, Ethereum added 4% to reach 3100, and both remain near those levels early Thursday. The leading altcoins from the top ten have risen in price over the past day from 0.7% (Binance Coin) to 5.4% (Avalanche). Demand on BTC According to CoinMarketCap, the total capitalization of the crypto market has grown over the past 24 hours by 2.3% per day, to $1.92 trillion. The Bitcoin Dominance Index rose 0.3% to 41.0%. Cryptocurrency index of fear and greed added to Thursday added 3 more points to 28 and moved into a state of "fear". Bitcoin was in demand in the US session amid a rebound in stock indices and a decline in the US dollar. The US currency began to correct downwards after a 9-day growth, which contributed to the revival of all risky assets. World's first crypto credit card Alex Mashinsky, CEO of the Celsius Network crypto-lending platform, said that Bitcoin will soar above $100,000 as early as 2022 as a result of capital flight from the stock market to cryptocurrencies. According to him, bitcoin began to behave as a protective asset against the backdrop of a deterioration in the general situation in the world. Crypto lending platform Nexo has announced the release of the world's first credit card secured in cryptocurrency based on the Mastercard payment system. The card will allow you to spend funds without having to sell crypto assets. They will be used as collateral to secure the loan. According to IntoTheBlock, the number of long-term investors in the Shiba Inu token has grown 20 times since the beginning of the year. However, hodlers hold only 5% of the total capitalization of the meme token.

Bitcoin price shows signs of a strong rebound as it hovers around the $40,000 level. On-chain metrics are hinting at a massive bullish outlook from a long-term perspective. For the short-to-mid term scenario, BTC is likely to trigger a run-up to $50,000. Bitcoin price is positioned at a level that is likely to result in a quick run-up to key levels. The on-chain metrics are also suggesting the possibility of a spike in buying pressure that could trigger a full-blown bull run if certain hurdles are overcome. Bitcoin price and bullish technicals Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs. The Bitcoin price action from January 22 to March 15 has set up three higher highs and two higher lows, which when connected using trend lines, results in an ascending parallel channel formation. As seen, the swing lows have breached the 200 three-day SMAs, and the bodies of these candlesticks have closed above them. Therefore, investors can expect a minor downswing with a quick recovery before making a U-turn. "This move will take a massive surge in buying pressure to manifest" A bounce off the 200 three-day SMA is likely to trigger a full-blown reversal that will push BTC to overcome the 50-day, 100-day SMAs and tag the yearly open at $46,198. This move will take a massive surge in buying pressure to manifest. Hence, the upside for BTC could be capped at the yearly open but in some cases, the big crypto could retest the 200-day SMA at $48,169. BTC/USDT 1-day chart While technicals might be suggesting only a minor uptrend for Bitcoin price, on-chain metrics are indicating a far brighter future. Two of the most overly bullish indices are - supply on exchanges and net exchange position change. The total number of BTC held on exchanges has dropped to 1.91 million The first indicator tracks the number of BTC held on centralized entities and can serve as a guestimation of the selling pressure if things go wrong. Typically, a spike in this metric often leads to a sell-off. However, for Bitcoin, this indicator has been on a downtrend since March 2020. The total number of BTC held on exchanges has dropped to 1.91 million, a level last seen on December 6, 2018, indicating that the investors are confident in the performance of Bitcoin price. BTC supply on exchanges Further building on the bullishness is the exchange net position change indicator, which tracks the 30-day change in Bitcoins held on exchange wallets. Since March 2022, nearly 100,000 BTC have left exchanges. Moreover, such an extent of outflow was only witnessed five times in the decade-long history of BTC. All of this indicates that investors are betting on better performance of the big crypto over a longer timeframe. BTC exchange net position change Revealing a similar bullish outlook for Bitcoin price is the supply distribution by the balance of addresses. This index shows that there has been a net increase in whales holding between 100,000 and 1,000,000 BTC from 2.93% in December 2021 to 3.47% as of this writing. This uptick in accumulation is the most apparent indicator suggesting the intent of institutional investors. BTC supply distribution chart A popular on-chain analyst with the screen name ‘TechDev’ tweeted that the market has been in a year-long retracement and that an impulsive is likely. He explains that major buy signals are popping up on different fronts. The first and the most obvious indication is the bullish flip and retest of the 100-day Moving Average (MA). Interestingly, a similar setup was seen before the start of the 2017 bull rally, adding weight to the recent signal. Lastly, the dollar index (DXY) is also approaching a local top Moreover, the altcoin market cap has also moved above the Exponential Moving Average (EMA) ribbon and is currently retesting it. Again, a similar setup was seen in 2017, before altcoins saw a massive rally. Lastly, the dollar index (DXY) is also approaching a local top, which was a familiar structure seen before the start of the 2017 run-up. Combined with the hands-on approach of the Federal Reserve in hiking the interest rates, there is bound to be a retracement in DXY, which will pave the way for capital rotation into hard assets like Bitcoin. TechDev’s case for a bull run Therefore, investors need to be aware of the sell-stops present below the $30,000 level as BTC might crash lower to sweep this liquidity All in all, Bitcoin price seems to be positioned perfectly to kick-start a massive bull rally and on-chain indicators are actively supporting this outlook. However, a daily candlestick close below the $34,752 support level will make sure that BTC will continue heading lower. Such a development could trigger a crash to look for stable support levels. Therefore, investors need to be aware of the sell-stops present below the $30,000 level as BTC might crash lower to sweep this liquidity before triggering a 2022 bull rally.