A crypto trader says Bitcoin (BTC) is on track to revisit $45,000 or even $50,000.
Bitcoin
Bitcoin (BTC) started trading in the green on Wednesday, April 20, after previously trading in the red for the past few days, in preparation to visit these levels, according to Ali Martinez. The notable recovery of the leading crypto-asset predicts the cryptocurrency to rise above critical $40,000 levels as market experts fear that a crash below $38,000 could cause Bitcoin to drop below the $32,000 or even $30,000 threshold.
With the current price of the cryptocurrency hovering just above $41,000, popular crypto trader Ali Martinez says that following the asset’s daily close above $40,800, BTC is poised to revisit $45,000 and may even reach $50,000 in the near future. forecasts:
BTC has a daily close above $40.8k and is on track to revisit $45,000 or even $50,000.
Bitcoin chart / Source: Ali Martinez Crypto trader and analyst Ali Martinez previously said:
Bitcoin is trading at the lower boundary of a parallel channel, while TD Sequential is giving a buy signal on the daily chart. BTC needs to surpass $40.8k for a chance to rise to $45,000 or even $50,000. A close below $39.4k could invalidate the bullish argument and result in a drop to $30,000.
More than 25 signals of the TD Sequential indicator were correct, as we have previously reported in this article as Kriptokoin.com.
Michaël van de Poppe: The most important area is around $40.5k
Meanwhile, another analyst Michaël van de Poppe believes that Bitcoin is currently in an uptrend and at least one believes it will continue at a higher level for two more weeks. The analyst says:
The most important area for me to lean on is still the region around $40.5k. If we lose the level and pull ourselves towards $39,300, we can look for a short-term bounce. It probably needs to break below $37,000 to keep the bounce short of $40,500.
6398
