In my latest video I address the question of whether Bitcoin (BTC) can rise to $50,000 despite bearish signals visible in the short term. Things are looking up for the king of cryptocurrencies, but there are pitfalls too.
Bitcoin on the way to $50,000 – Altcoins on the verge of an explosion
Bitcoin has been moving sideways recently, which I interpret as a calm before the storm, followed by a significant price increase. The focus now turns to what Bitcoin’s future price movements might look like. I study the heatmaps and see that there is significant liquidity in the $50,000 to $51,800 range.
An important question is whether the price will initially return to $38,400, a scenario that remains uncertain. When analyzing the monthly data, the recent high of around $41,000 stands out, which suggests a possible bearish scenario in the short term. So in the short term there could well be a correction, possibly followed by a further increase.
Another important topic is the upcoming Bitcoin halving on April 15th, an event that is not far away and could cause significant market movements. Weekly candlestick analysis shows an increase of almost 15% over the past week, with a mix of indecision and strong bullish signals in BTC price.
The analysis continues with the daily and weekly charts, where I will specifically talk about the resistance levels and the possible outcome of the current market movements. I discuss the “Golden Pocket” area and the Fibonacci levels that mark key resistance points. There are some interesting things visible in the graph.
Solana price analysis
The video ends with a preview of Solana (SOL), another cryptocurrency with interesting market dynamics. SOL has been doing good business recently, despite the outage a few days ago, and it is possible that Solana will rise sharply in the near future.
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