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Whales and smaller wallets are accumulating BTC again. After a brief hesitation, operators seem to be returning to the attack on BTC. The price of Bitcoin has returned above $44,000, but is a return to $22,000 possible? It’s the Bitcoin newsletter!
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Bitcoin price climbs more than 2% in 24 hours
Buyers are not letting sellers take over yet. Indeed, buyers managed to bring BTC back above the $44,000. In fact, the price of Bitcoin displays a increase of more than 2% in 24 hours :
From then on, BTC climbed almost 15% in one week. In three months, the course is in 70% increase. For its part, the BTC/ETH pair is in increase of more than 1% in 24 hours. The pair returns to equilibrium within a week.
Is a return to $22,000 possible for the price of Bitcoin?
Currently, the price is evolving around $44,000. Therefore, it may seem complicated to see the price of Bitcoin close to the $20,000. However, if BTC knows explode upwardhe also knows how to satisfy sellers by scoring violent falls. THE realized price (blue curve) of Bitcoin corresponds to the average BTC purchases for all wallets. Here is the graph representing the realized price of BTC:
Historically, the returns below the realized price of Bitcoin have been excellent opportunities. In fact, BTC has marked several hundreds of percent after feedback at the level of realized price of BTC.
Is a return to the blue curve possible? In 2015, when the price is exceeded the realized pricehe continued to climb until he found the market top at the end of 2017. However, during the last cycle, the price experienced two returns to the level of the realized price before actually leaving bull market. Indeed, the Covid crash in March 2020 caused the price to fall below the blue curve. In theabsence of a black sign (an unforeseeable event), it is unlikely to see the king of cryptocurrencies below $22,000 again. If the price were to fall below the $22,000this could be an opportunity for cryptocurrency enthusiasts.
Bitcoin price is back on resistance at $44,000
Buyers responded at the level of institutional bias (EMA 9/EMA 18) bullish in 4H. The course is back at the level of the resistance at $44,000 :
If buyers break the resistancethe next one is around the $46,500. However, if sellers push back the price, a return to the level of $42,000 is possible. The course must absolutely keep the last low marked at $41,160. The RSI records a bearish divergence. It is possible that BTC will implement a tidy which could allow buyers to regain strengthor to sellers of regain control.
A return to the realized price level of BTC is not impossible. In this case, the price would return to $22,000. However, in the absence of a crash, it is also possible that the opportunity has already passed. The BTC price is strong, it continues to show ascending lows and highs. A slowdown is visible on the RSI, and if a range sets up, altcoins could benefit from it. At the same time, Ethereum is on fire, its price has doubled since the start of the year.
Bitcoin news that matters:
- Bitcoin has died 474 times since 2010. In fact, a site lists the number of times the king of cryptocurrencies has been announced dead by the media. It seems that fashion is passing…
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