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 15th April 2022

Bitcoin Bulls Lose Momentum, BTC Bears Unwind Mid-Week Gains Targeting $38k



Past Performance of BTC

The Bitcoin price is on a slippery path when writing. After encouraging gains mid this week, BTC prices caved in on April 14 as sellers pressed lower. 

At press time, BTC is down eight percent week-to-date, underperforming a resurgent greenback reading from the performance in the daily chart. 

In the immediate term, sellers are in control. As such, Bitcoin could easily slide below this week's lows towards $38k—and worse in the medium term.


Bitcoin Technical Analysis

BTC is down 17 percent from March 2022 highs and could shed more if buyers fail to plug the drain. In the daily chart, BTC is within a bear breakout formation and in red, inside the bear candlestick of April 11. 

The coin will remain under pressure as long as prices are below $42.5k and the multi-week support trend line. Subsequently, traders may find loading opportunities to unwind on pullbacks with targets at $38k and later $33k—marking Q1 2022 lows. 

On the reverse side, a total reversal of April 11 losses may be the base of another leg up to $50k—or better.


What to Expect from BTC

In the long term, Bitcoin proponents are bullish. However, in the short term, BTC is bleeding and may post deeper losses, retesting Q1 2022 lows.


Resistance level to watch: $42.5k

Support level to watch: $38k


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