- On April 19, the bullish BTC price analysis is at $43,890.
- BTC’s bearish market price analysis for April 10, 2022, is $42,980.
- Bitcoin’s MA shows a downward trend.
In Bitcoin Perpetual Contract (BTC) price analysis on April 10, 2021, we use price patterns, and the Moving Average of BTC to analyze the future movement of the cryptocurrency.
A Perpetual Future Contracts are a special, unending type of advanced Futures contract, that does not have a specified expiry date which means that the traders viz. buyer and seller can hold the position for as long as they wish to. Perpetual Future Contracts enable the seller to sell the asset when its price is susceptible to fall in the future and the buyer can buy the asset if it is expected to witness a price rise in the future.
Bitcoin (BTC)
As a well-known fact, Bitcoin is a decentralized digital currency. It follows the ideas set out in a whitepaper by the mysterious and Pseudonymous Satoshi Nakamoto. The identity of the person or persons who created the technology is still a mystery. Unlike fiat currency, Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system, known as a blockchain.
Furthermore, Bitcoin is one of the first cryptocurrencies to use peer-to-peer (P2P) technology to facilitate instant payments. Bitcoin mining is the process by which Bitcoin is released into circulation. Mining requires solving computationally difficult puzzles to discover a new block, which is added to the blockchain.
Bitcoin (BTC) Price Analysis
BTC price analysis on April 19, 2022, is explained below with an hourly time frame.
A descending channel is the chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. Moreover, the descending channel pattern is also known as a falling channel or channel down.
The upper line is identified first, as running along with the highs and is called the trendline. The lower line is identified as parallel to the trendline, running across the bottom. A breakout above the upper trendline generates a strong buy signal, while a break down below the lower trendline generates a strong sell signal.
Currently, the price of BTC is $42,53.229. If the pattern continues, the price of BTC might reach the resistance level of $46,434, and the buy level of BTC is $43,488. If the trend reverses, then the price of BTC may fall to $35,836.5.
Bitcoin (BTC) Moving Average
The BTC’s Moving Average (MA) is shown in the chart below.
Currently, BTC is in a bearish state. Notably, the BTC price lies below 50 MA (short-term) and 200 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of BTC at any time.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
