This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for BTCUSD for 4th May 2022

Bitcoin Bears Press on as BTC Dumps 21% from April Highs



Past Performance of BTC

BTC remains under intense selling pressure at spot rates, reading from the development in the daily chart. It is down two percent versus the USDT in a bear breakout formation. Notably, BTC sellers are firm, rejecting attempts by bulls to push higher. The immediate resistance level is at $40.5k.


Bitcoin Technical Analysis

Bitcoin bulls are struggling at press time and have failed to unwind last week's losses. After earlier attempts, BTC prices fell on May 3, availing opportunities for traders to align with the immediate trend. Every low could be an opportunity to unload, especially if there are sharp liquidations below $37.3k—last week's lows. If the breakout bar signaling trend continuation is with high trading volumes, the coin may slide to February lows at $36.5k.


What to Expect from BTC

Sellers remain in charge. The upside momentum will fizzle if sellers force prices below last week's lows.


Resistance level to watch: $40.5k

Support level to watch: $37.5k


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020