Bitcoin analysis for April 27, 2021

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Looking at the chart on the four-hour time frame, we see movement in a large ascending channel, bouncing off the bottom trend line. After that, we see a pullback from the $ 47,500 level to the current $ 54,700, where we are now testing the 38.2% Fibonacci level to $ 53,900. During the pullback, Bitcoin gets support and moving averages from the bottom, and based on that, and our targets are the zone between MA200 and EMA200, around 50.0% Fibonacci levels at $ 56,000.

Looking at the MACD indicator, we see that we are in a bullish trend, and based on it, we can expect a further continuation to the bullish side. If Bitcoin is run through this channel, we will see a new high in the coming period.

Bitcoin analysis for April 27, 2021

Tesla sold 10% of its ownership in Bitcoin after adding the leading cryptocurrency to its balance sheet earlier this year. The electric vehicle maker bought $ 1.5 billion in bitcoins in February as part of its investment policy for further flexibility and diversity in maximizing the company’s return on excess cash.

In February, Tesla’s report to the Securities and Exchange Commission stated that, according to that policy, Tesla could “occasionally or in the long run acquire and hold digital assets.” The price of bitcoin rose after Tesla’s announcement, reaching a maximum of $ 44,200 at the time.

According to Daniel Ives, an analyst at Wedbush Securities, by the end of February, Tesla had already made about $ 1 billion in paper profit from its investments in the leading cryptocurrency. During the first quarter, the price of bitcoin rose after reputable companies, including MicroStrategy and the payment company Square, bought cryptocurrency.

The Indonesian Regulatory Agency for Trade in Goods is considering collecting taxes on all cryptocurrency transactions on regulated stock exchanges in the country. Currently, 13 cryptocurrency exchanges fall under regulatory supervision, and these platforms will automatically apply the tax if it is approved.

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