Bitcoin Price Rebounds After Drop, But Analyst Warns Coming Days » Crypto Insiders

as in Bitcoin (BTC) Market Update from this morning He can read to him BTC rate Retreat under the important the support Made at $40,000. The fear in the market is now well present as it threatens further downside.

Bitcoin price rebound, beginning of recovery or not?

Bitcoin has been dropping for a while of course, but last night we saw a fresh acceleration after the price managed to consolidate last week. After breaking $40,000, the price eventually fell by around 4.6% to a current low of $38,500.

There, BTC started to rise again during the afternoon. At the time of writing, the price of bitcoin is $39,250 on crypto exchange Coinbase. At the Dutch trade fair Petavavo 1 bitcoin is now equal to 36,382 euros. A person wearing pink sunglasses, of course, sees this as the first sign that we’re finally going to recover. But analysts like Nebraskangooner caution against chanting too soon:

“If you are one of those people who just want to keep working for a long time, at least wait for the malfunctions to come back. That would give you an obvious long shot with a good risk: to go back. Otherwise it’s like trying to grab a knife.”

Nebraskangoner, based on his analysis, indicates an upward movement in recent weeks, a From fake used to be. The analyst anticipates that the price may continue lower, only to find lower support again in the $30,000 region. At the moment, a recovery above the uptrend line and $40,000 could provide a small bright spot. Although it looks like this trend line has already broken:

# bitcoin

Trend line details update. https://t.co/CJfIxsj2HM pic.twitter.com/vgQaPNLbDx

– Nebraskangooner (Nebraskangooner) April 18 2022

Ethereum shows bullish divergence

Where bitcoin’s situation doesn’t look great, there’s Ether (ETH) To find a possible positive signal. while the Ethereum price It only appears when BTC is in a downtrend Equilibrium Volume (OBV) Slight upward trend. This is also called a file bullish divergence. Xulian, the analyst, argues that this indicates a greater buying volume. The analyst is primarily looking at the resistance at $3000.

Currently, ETH is building a nice bullish DIV on OBV, (more buying volume than selling volume).

If we can break through the high volume area at 3K, it can start to move nicely.”

Currently #ETH He builds a nice DIV bull on the OBV, (shows more buying volume than selling).

If we can get past the high volume region at 3k, it can start to move pretty well. pic.twitter.com/WOGxJ7QPpj

– Julien (@KingJulianIAm) April 18 2022

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