BTCUSDT Bitcoin and Ether have surpassed the key psychological levels of
30,000 and 
2,000 respectively, indicating that the crypto winter could be coming to a close. While some analysts are predicting an altseason, it may be premature. Typically, when most crypto bears become bullish, Bitcoin experiences a sharp decline, which catches latecomers off guard and could negatively impact sentiment and result in an altcoin sell-off. However, once the weak hands have been eliminated, the crypto markets may stabilize and commence a sustained uptrend.The Bitcoin price analysis indicates that the bulls have resumed purchasing after the bears tried to stall the up-move on April 12, as they cleared the hurdle at
30,550 on April 14. If the BTC/USDT pair is sustained above 30,550, it may rally to 
32,400, and if the level at 32,400 is scaled, the pair may zoom toward 
40,000. Conversely, if the 20-day EMA cracks, it suggests that the bears are making a comeback, paving the way for a possible drop to 
25,250.According to Glassnode, an on-chain intelligence platform, the current having cycle has similarities with previous ones. However, Ecoinometrics cautioned that an economic recession could disrupt this trend.
Let me know what you think!
Follow me for more TA!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.