The bitcoin (BTC) rate is still in battle with $ 60,000, the major obstacle on the way to the current all-time high (ATH). Volatility suddenly picked up here last night with a pretty rapid dip that saw bitcoin fall $ 2,000 in value. At the altcoins, we see a number of cryptos that manage to set new price records, which seems to have really made the altcoin season begin!
Bitcoin (BTC) bears are not giving up
Bitcoin rose above $ 60,000 yesterday morning, April 10, in a rapid movement. It peaked at $ 61,218 but it stopped there. The price started to decline from this point resulting in a fairly rapid dip back below USD 60,000.
From the $ 58,000 mark, which was also where the 4-Hour 50-Moving Average (MA) was located at the time, BTC was able to bounce back above $ 60,000 after that. Unfortunately, the bulls were unable to persevere. Instead, bitcoin slumped back slightly, bringing the current price of bitcoin to $ 59,440 on cryptocurrency exchange Coinbase.
Basically, the price area between $ 60,000 and the current ATH at $ 61,700 remains a battleground. It is striking that the trading volume is still not really picking up. The big question therefore remains whether the bulls have enough strength to push through, or whether the downward trend on the Relative Strength Index (RSI) on the 4-hour and daily charts will continue. It seems very much that a direction will be chosen in the coming week. Well-known analyst Josh Rager is in any case positive:
Nice push from Bitcoin, but definitely wants the price to keep the USD 59,000 level
Wouldn’t be the end of the world with a wick below, but the area to keep an eye out for is to win back $ 60,600 +
I think we will see new highlights on Wednesday ”
These altcoins set new price records
The altcoins also look predominantly good. Especially Binance coin (BNB) stands out. He set new price records several times in recent days and did so today. The $ 500 was just not tapped. BNB’s new ATH is now at $ 496.18. The positive movement probably has to do with the upcoming BNB burn, among other things.