Bitcoin Is in a Downhill but It Is Hovering Above $27.2K – April 21, 2023
The selling pressure on the price of Bitcoin (BTC) has persisted but it is hovering above $27.2K. After crossing the 21-day SMA, the largest cryptocurrency had a sharp decline. As soon as the price breaks below the 21-day SMA, the present uptrend is expected to come to an end. The price of BTC runs the risk of dropping further as it enters the bearish trend zone.
Bitcoin Price Statistics Data:
•Bitcoin price now – $27,293.88
•Bitcoin market cap – $528,184,188,880
•Bitcoin circulating supply – 19,352,818 BTC
•Bitcoin total supply – $573,115,813,218
•Bitcoin Coinmarketcap ranking – # 1
Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000
Following the decline below the 21-day SMA, on April 19, the current uptrend is said to be terminated. Before that, the current uptrend began on April 13 and lasted for a week before breaking above the moving average lines. On April 23, the price of BTC surged to a high of $31,035, but the positive impetus was short-lived. At the time of writing, the price of BTC had dropped to a low of $28,225. Bitcoin is likely to keep falling as long as the bears’ breach below the 21-day SMA. After breaking below the 21-day MA, sellers will attempt to drive Bitcoin to a bottom above the 50-day SMA. In other words, there is a chance that the price of BTC may fall to a low of more than $27,000. As a result, the largest cryptocurrency will oscillate between the moving average lines. This corresponds to the BTC price fluctuating between $27,000 and $29,000 price levels.
More Bitcoin ATMS Are Installed in Australia Than in All of Asia
There are 355 crypto ATMs in Asia, which is home to key economies including China, Japan, Singapore, and India. This region is home to 1% of all crypto ATMs placed worldwide. Asia was eclipsed by Australia, which is home to the third-largest network of Bitcoin (BTC) ATMs, in terms of the overall number of installed crypto ATMs. Australia has been installing cryptocurrency ATMs nonstop since January 2023, moving up from fifth to third in that month alone. Data from Coin ATM Radar demonstrates that the nation has continued to work to set up channels for converting fiat currency to cryptocurrency.
The largest cryptocurrency is currently moving downhill after being rejected at $30,500 but it is hovering above $27.2K. The price breaking below the 21-day SMA will increase the selling pressure. The BTC price will essentially oscillate between the moving average lines. When the price breaches the moving average lines, the coin will trend further. If price moves back below the 50-day SMA in this instance, the downtrend will restart.
The largest cryptocurrency is sliding to the 50-day SMA as it breaks below the 21-day SMA. In other words, support is expected to be found above $27,000 if the BTC price breaches the 29,000 support level. It is expected that Bitcoin will have to move in a range because it is pinned between the moving average lines. The decline in Bitcoin has affected other cryptocurrencies, including LHINU tokens. The rebound of Bitcoin will start in earnest once the price of BTC finds support over 27,000 dollars. By participating in the first LoveHateInu poll, you have a chance to win. Participate to be eligible to win $10,000. Simply decide whether you love or hate Andrew Alttateinu. You only need to provide your email address to proceed. Join us right away; don’t wait. Stage 5 of the LHINU Presale has just a few days left. There has already been a collection of more than $5,5 million.
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