The new week has begun with the sharp growth of the cryptocurrency market as all top 10 coins are in the green zone.
Top coins by CoinMarketCap
The dominance rate of Bitcoin (BTC) keeps slightly rising after a bounceback from the 30% mark. At the moment, BTC's market share makes up 44.8%.
BTC market share
BTC/USD
After a fall to $30,000, Bitcoin (BTC) has bounced back, rising by 12% over the last 24 hours.
BTC/USD chart by TradingView
On the 4H chart, Bitcoin (BTC) may still face a short-term drop as the selling trading volume has increased.
In this case, the more likely scenario is the price decrease to the closest support level at $36,500 where bulls might again seize the initiative.
BTC/USD chart by TradingView
On the longer time frame, the growth has just begun after a deep drop the previous week. Thus, the rise is accompanied by an increased trading volume that makes the bulls' positions even stronger. The ongoing growth may continue to the closest resistance at $42,100. Such a scenario is relevant for the current week.
BTC/USD chart by TradingView
On the weekly chart, the situation is also bullish as the week has begun with a successful bounceback. Even though it is too early to consider new peaks, a correction to the created mirror level at around $43,750 may occur within the next few days.
Bitcoin is trading at $37,600 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?