BITCOIN ANALYSIS BTC/USDT Bitcoin soared above the $60,000 overhead resistance on April 10 and reached $61,301.21, just short of the all-time high at $61,825.84. However, the bulls continue to find difficulty in keeping the price above $60,000, indicating stiff resistance from the bears. The price has yet to close above $60,000 which means the inverse head and shoulders pattern is still not complete. The bears will try to capitalize on the small window of opportunity and pull the price down to the 20-day exponential moving average ($57,513). A strong bounce off this support will increase the possibility of a break above $61,825.84. If that happens, the BTC/USDT pair could start the next leg of the uptrend that could push the price to $69,540 and then $79,566. On the other hand, if the bears sink the price below the 20-day EMA, the pair could challenge the critical support at the 50-day simple moving average ($54,723). A break below this support will be the first indication of a possible change in trend. The 4-hour chart shows the bears are active above $60,000. However, the positive sign is that the bulls have not allowed the price to sustain below the 20-EMA. This means the bulls are buying on every minor dip. If the bulls can once again push the price above $60,000, the pair may challenge the all-time high. On the contrary, if the bears sink the price below the 20-EMA, a drop to $57,600 is possible. If this support cracks, the next stop could be $55,600. Let's keep pumping the market guys Stay Bullish, Stay Humble, Stay Put #bitcoinusa #bitcoinpump #bitcoinbullish #bitcoinmining #bitcoinasia #bitcoins #bitcoinnewsdaily #bitcoinpricedaily #bitcoinholders #bitcoindaily #bitcoinisking #bitcoinvalue https://www.instagram.com/p/CNj-ZxRAagj/?igshid=12l8ltj68ialq
