Bitcoin analysis for April 23, 2021

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Looking at the chart on the hourly time frame, we see a big pair yesterday from $ 55,000 to $ 47,400. After that, the BTC/USD pair finds support climbing up to $ 49,900, and we look at the break of moving averages MA20 and EMA20; if that happens, we can expect to climb into the zone around $ 54,000 again. The MACD indicator is slowly moving into the bullish trend. The break of the blue MACD line should be seen high above the signal line as support for the new bullish impulse.

bitcoin

Bitcoin (BTC) may make long traders bitter, but one bull analyst says he was “relieved” that he missed 22% in a week. In his latest update on social media, quantum analyst PlanB noted that the price drop below $ 48,000 reduced BTC/USD below the target set by his stock price flow model. As such, Bitcoin is no longer the “initial” flow of stock, which is traditionally a very accurate tool for predicting prices. After trading above the required level, PlanB suggested that it was concerned that progress was becoming inorganic.

“I am surprised that the price of BTC is now below the value of the s2f model again,” he wrote in an interview with the author of “The Bitcoin Standard” Saifedean Ammous. As Cointelegraph reported, the two iterations of the model, flow share and flow share (S2F) (S2FX), differently require an average BTC/USD price of $ 100,000 or $ 288,000 from now until 2024.

Earlier, PlanB said it believed Bitcoin would not stop at $ 100,000, which should hit this year.

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