📅 Bitcoin in April: Mark this Date! |4 April 26|

Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where we deliver the good, the bad, and the ugly in 5 minutes.

Unfortunately, there is a lot of “ugly” going on right now . . . 😅

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin’s Daily Movement 

• What to Anticipate Next 

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines 

📊 OUR BOLD PREDICTION

Even though the price of Bitcoin continues to drive downwards, we are still hopeful for what the near future holds.

Many are looking forward to the next “bull cycle,” which would be set to hit in 2029, but some believe that the four-year cycle is dead . . .

What are your thoughts?

📊 KEY STATISTICS

• Overall Market Capitalization = $2.31T

  • (0 movement since last Saturday)

• Bitcoin Market Capitalization = $1.33T

  • (10B increase since last Saturday)

• Bitcoin’s ROI in April = -1.75%

📊 BITCOIN’S DAILY MOVEMENT

Believe it or not, Bitcoin ended the month of March in the positive at +1.81% . . . Definitely doesn’t feel like it haha!

So, does the positive ending to March mean that there is more upward movement to come in April?

Well, not necessarily . . .

From last Saturday, we covered Bitcoin’s “lower highs and lower lows.” It shouldn’t be any surprise that this pattern is continuing.

Where does that lead us for Bitcoin’s future movement? Well, there is a date that we need to keep an eye on . . .

📅 The 7th of April!

As we have converging support and resistance on this day, it will be the final defense against Bitcoin breaking below $65,596.85 . . .

Don’t start to panic yet! Let’s take a look at the “What to Anticipate” section below!

🧠 MARKET PSYCHOLOGY

Just because March ended positive for Bitcoin does not mean that it is carrying over into April!

With the continuous back and forth in the market, we see a “tug of war” between the bulls and bears.

The flavor of the week?

As of now, bullish traders make up 49.58% of the market while bearish traders make up 50.42%.

The bearish traders are controlling the market by a slim margin but that could easily switch by the 7th of April!

🔮 WHAT TO ANTICIPATE

As we stated in last Saturday’s newsletter . . .

Unfortunately, the dreaded bear flag formation has taken shape and sits between $65,596.85 and $69,093.29.

For the second week in a row, we still are agreeing with the statement that “we are cooked!” haha!

Don’t worry though! There is some hope left to cling onto!

📈 BULLISH SCENARIO

The 7th of April is the date that all eyes should now be focused on.

There are two variables that are driving Bitcoin’s price down, a bear flag formation along with a descending triangle formation . . .

Yes, we haven’t forgotten about the “lower highs and lower lows” pattern haha!

For a “bullish scenario” to take place, we need Bitcoin to bounce above $69,093.29 and continue to hold above $65,596.85 past the 7th of April!

At that point, $71,741.45 is the next major resistance that needs to break.

📉 BEARISH SCENARIO

Again, the bear flag formation, descending triangle formation, and “lower highs and lower lows” pattern isn’t helping anyone . . .

If Bitcoin were to plummet through $65,596.85 by the 7th of April, chances that it pursues $60,028.03 and highly likely.

From $60,028.03, the next major area of support is $52,910.94 which seems like it is far away . . . but don’t let that fool you!

In short, Bitcoin needs to hold above $65,596.85 or we are going to be in a world of hurt . . .

👀 WATCH FOR THIS NEXT

Jot this down in your calendar . . . the 7th of April!

In our opinion, this is the date that sets the tempo for the rest of the month of April.

If Bitcoin holds above key support at $65,596.85, we need it to break above $69,093.29 so it can pursue breaking major resistance at $71,741.45.

If it doesn’t hold key support . . . well, it’s time to bring out the Pokémon card collection and sell it . . . haha!

🧠 OUR OVERALL THOUGHTS

April is off to a negative ROI for Bitcoin, but things could chance in the upcoming days!

The cryptocurrency market may seem like “doom and gloom” at the moment, but we also saw an all-time high shortly after the beginning of the coronavirus outbreak.

Continue to keep your seatbelts fastened, be safe out there, and may the bull guide you well!

BULL MARKET BULLETIN 📌

Will Quantum Computing Break Bitcoin? Elon Musk responded to a venture capitalist with a remark that could shake the cryptocurrency world forever . . .

There is Hope for Bitcoin ETFs! Bitcoin ETFs could be the “sleepy giant” that is about to wake up and overperform gold . . . so they say . . .

BULLISH OR BULLSH*T? 🤔

🤝 Your opinion matters (we promise)! Give us a rating below and tell us what rocked, what flopped, and what we should charge at next!