Six months of hesitation – Bitcoin (BTC) starts April 2022 in the green, with a rebound that could herald an upcoming relaunch of the bullish rally that has been on hold for months now.
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Bitcoin just days away from $50,000 and it’s not an April Fool’s joke
The price of bitcoin drops to around $44,245 on Bitfinex today, 1er April 2022. The rebound, however, allows bitcoin to regain $45,000, then $46,000. Bitcoin trades at $46,294 at the time of writing, and is currently seeing a daily gain of 1.18%.
Bitcoin closed March 2022 in the green, above $45,000. Blockware analyst William Clemente shared a chart showing “a historical view of bitcoin’s quarterly candlesticks.” The candlesticks of the last quarter of 2021 and the first quarter of 2022 constituted by a doji, show the absence of a clear trend over these periods of time, and market indecision.
Will the second quarter see a marked trend this time around? In the short term, Crypto trader Ed believes bitcoin could “ look for the $50,000 next week after today’s “strong recovery from $45,000”.
After this temporary dip below $45,000, trader Rekt Capital shared a weekly chart of bitcoin’s price, while indicating that it “dipped” into one of the exponential moving averages “of the bull market for a new test. Bitcoin could according to Rekt Capital, “ dive a little deeper towards ~$43150 “.
Rekt Capital, however, ends its analysis on a positive note, saying that “no matter what, BTC is preparing for its next uptrend”.
The signals are again green for bitcoin, after an end of March 2022 in the red which could have been followed by a bearish break in the short term. Will this quarter see a new all-time high for bitcoin or will we still be entitled to a doji?
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