The price action on Bitcoin has thrown some people. After seeing price breakout of that range it was in for 2 months there was excitement in the air.
Then price went and "failed" by falling back below the 44-45K area. This would lead most to think we will see 37K or lower again, but maybe it isn't that clear.
To add to that, the monthly chart makes all of that look like noise at the end of the day.
In the video below I review the daily chart and also take a look at the monthly, which helped me have a more relaxed view of bitcoin's price action.
Bitcoin Price Has People Confused a Bit
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The support at $42,000 is really crucial and the bears are struggling to break it. Every hour they can't break this support, the strength of the bears will weaken a little more. If they are successful, the price could drop as low as 40k. But if they fail, Bitcoin could bounce towards $45,000.
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They crushed it.
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tax crunch time is almost over
full moon is mid month
only one more week of pain left
just wait for the May monthly candle
gonna be a wild ride
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To me it seems that $42k is the new $35k. What most of the panic sellers are overlooking is the higher lows you mentioned at the end of the video. Macro views are best for "reading the future".
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Doubtful times for Bitcoin price and we'll just need to see how it plays out. The monthly chart is more encouraging and shows that consolidation might come before an uptrend to ride.
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The price of BTC is confusing,in a way that you can't predict were the price is going. Is still on bearish trend.
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The Maxis lied. It is a shitcoin and only go down.
But DOGE and be free.
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BTC still not able to break the hard resistance and reclaim the 2022 yearly open price. imho, 38K - 39K support area need to hold.
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👍🏻 Agree, BTC is at a slight upward trend and all is good if you fade out a bit though it FEELS different for many investors. Everybody was waiting for the 100k which didn’t happen last year. My feeling is we might go sidewards for bit longer. Don’t see new ATH for this year to be honest.
what do you think about this longer timeframe/bigger picture?
regards Thomas