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Bitcoin Limits to a Range-Bound Move as the BTC Price Halts below $30.4K – April 19, 2023
The price of Bitcoin (BTC) is battling to overcome the recent high as the BTC price halts below $30.4K. On April 18, the bulls made three unsuccessful attempts to retest the resistance level. The largest cryptocurrency’s price now lies between $30,000 and $30,400. The upswing will begin if the price moves above the $30,400 barrier level.
Bitcoin Price Statistics Data:
•Bitcoin price now – $30,144.96
•Bitcoin market cap – $583,157,981,559
•Bitcoin circulating supply – 19,350,412 BTC
•Bitcoin total supply – $632,871,156,064
•Bitcoin Coinmarketcap ranking – # 1
Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000
Bitcoin’s upward march over the $30,400 support has been constrained by the rejection at the $31,035 high. BTC’s price fell to a low of $29,262 on April 17 as bulls bought the dips. Sellers aimed to drive the coin below the 21-day simple moving average. This would have resulted in Bitcoin falling to the next support level of $28,000. However, on April 18, buyers drove the price of Bitcoin above the crucial $30,000 level. However, the upward trend came to an end near the $30,400 peak. Bitcoin will continue to rise as soon as the current resistance is overcome. As a result, Bitcoin will pick up steam and climb to its previous peaks of $31,000 and $32,000. However, following the recovery on April 18, the price of BTC is restrained below the $30,400 high. The price of the cryptocurrency asset is limited to a range-bound fluctuation between $30,000 and $30,400. The crypto’s price will trend once the range-bound levels are broken.
BTC Price Quotes Are Now Available on Twitter Thanks to a Collaboration with Etoro
The action comes after Twitter and the Israeli cryptocurrency exchange announced their cooperation on April 13. Twitter launched Bitcoin (BTC) price quotes on its social media network on April 18. These quotes can be accessed using Twitter’s search function. The charting platform TradingView is what drives the price quotes. A link to the Israeli cryptocurrency market eToro, where users may purchase or sell Bitcoin, is included with the display. It appears that, at the time of publication, only BTC price quotes are accessible, not those for other significant cryptocurrencies. The Bitcoin price chart is also accompanied by a notice that reads, “Your Capital At Risk.” Elon Musk also disclosed on April 17 that, in addition to Twitter, he will develop an AI program entitled “TruthGPT” after seeing the popularity of the AI chatbot ChatGPT. Musk claims that the AI’s quest for the truth will combat what he terms “left-wing” bias in the media.
Meanwhile, Bitcoin (BTC) has recovered from its recent drop above the $29,262 support level as the BTC price halts below $30.4K. On April 18, a market reversal led to a rise in BTC price above the psychologically significant $30,000 price barrier. According to the price indicator, the cryptocurrency will rise to a peak of $32,000. The bullish scenario would be nullified if the 21-day SMA was violated.
Alternatives to Bitcoin
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