BTC Turns Bearish and Might Fell Below $50,000

 2021-04-20 08:46:36

News:

According to Foxbusiness, more than 130,000 people have signed a petition calling on Amazon to use Dogecoin as a payment method. The petition "Doge4Amazon-Accepting Dogecoin as a Payment Method" was posted on the Change.org website, claiming that Amazon does not provide Dogecoin and "is alienating many people who do not have traditional bank accounts."

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BTC market analysis:

Bitcoin started to struggling again since April 14th and it fell to a low of $51,427 on April 18th. Now the support line is found at $53,000. BTC is still at the status of declining, facing an uphill task above the $57,000 level. If bitcoin remains stable above the $53,000 level, it could attempt an upward trend. However, if it fails to do so, it might retrace more severely and break $50K! This could be a bomb for the crypto market.

 

Current technical indicators:

Hourly MACD – The MACD is slowly gaining momentum in the bearish zone.

Hourly RSI – The RSI is now well below the 50 level.

Major Support Levels – $54,000, followed by $52,000.

Major Resistance Levels – $56,000, $57,000 and $57,500.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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