BTCUSD SIGNAL 21-04-22 : Bitcoin’s Struggle to Break Away From Support.

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BTCUSD SIGNAL

BTCUSD SIGNAL 21-04-22 : Bitcoin’s Struggle to Break Away From Support.

Total crypto market capitalisation, according to CoinMarketCap, rose 0.4% overnight to $1.92 trillion. Bitcoin’s dominance index added 0.1 point to 41.1%.

BTCUSD SIGNAL : The cryptocurrency Fear & Greed Index is now in its third day, staying at 27 points (fear), but we see a slight upward movement in the market.

In the crypto market, as in the high-tech Nasdaq, we can call it cautious demand from buyers of the deep, but this support is not turning into a rally. The strong correlation between the tech sector and bitcoin is holding the latter back

BTCUSD SIGNAL : That said, the very fact that bitcoin has managed to lock in an uptrend and attempts to push back from that support is setting up positives for the coming days.

Bitcoin’s uptrend of the last four months can be extended to the left, and then it appears to be close to the July 2021 low, which was then near 30k. If we are right, bitcoin, and subsequently the entire crypto market, are saved from falling into a crypto winter by long-term buyers who find the current levels quite attractive.

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