Quote from: darewaller on April 29, 2021, 03:33:03 PM

Quote from: Congyang on April 29, 2021, 07:55:26 AM

look at the bitcoin market is now experiencing a correction in the price of $ 53 according to the list on coinmarketcap. this translates to a $ 3k drop from the $ 56k price range you wrote down. So I think it's a great start for bitcoin to go through various stages and it looks like bitcoin could go higher in the future

Yeah, right now bitcoin is trading below $54k levels. But, how it will be a great start? I am little confused to understand what exactly you are referring to.

As per my technical things, bitcoin was struggling to break resistance around $57k levels and when it was failing to break resistance then we can easily expect it to coming down to immediate support zone which is around $52k levels. This is unusual market movement and it is showing market is expecting some trigger to happen so that it may break resistance levels easily.

Now that BTC is at $40k, we need some next good news to give it a push. In crypto, one good news doesn't give that much push that one bad news give pull to.
We hope we don't hear any negative news as that can bring down BTC at $30k.
Although it can give opportunity to many new people to enter BTC market at low price, it will also help whales accumulate more.