MEXCBitcoin (BTC) Price Trend Confirms Bullish Momentum, Here’s Why
The Bitcoin (BTC) price successfully rebounded from near the support level on Tuesday as whales again showed interest in an upcoming rally.
In fact, the BTC price has now confirmed a bullish divergence pattern. This indicates bears are losing momentum and bulls are ready to control the market.
Bitcoin (BTC) Bulls Gains Control of the Market
Bitcoin (BTC) price has returned to the $39k-$41k range as the market sentiment turns bullish amid Elon Musk‘s acquisition of Twitter and whale accumulation from the dip. Bitcoin price has rebounded more than 5% in the last 24 hours, with the current price trading near $40,472.
Crypto analyst Scott Melker (The Wolf of All Streets) noted in a tweet on April 26 regarding the confirmation of bullish divergence on the BTC chart. He believes BTC is forming a bottom at current levels. While the price has fallen to a new low, RSI has failed to reach low levels. Therefore, there is a confirmed bullish divergence in the daily and lower time frames.
Moreover, as per crypto analyst Rekt Capital, Bitcoin (BTC) will move higher in trend continuation as the RSI suggests the BTC rally isn’t over yet. Moreover, the price may decline again as low as the red zone but will bounce to form a strong bullish trend.
The bullish momentum has returned to the market as Bitcoin price action has broken the channel upwards, while also breaking above several patterns in multiple timeframes. Analysts are expecting a significant move above $45k levels in the next few days.
Moreover, Fidelity Investments allowing investors to add up to 20% of Bitcoin to their 401(k) plans will further push Bitcoin towards mainstream adoption.
BTC Price Awaits Bullish Breakout Above $42k
The current strong rally in Bitcoin price awaits a breakout above $42k as BTC price stabilizes above $40,500. According to CoinMarketCap, the BTC price is up nearly 4% in the last 24 hours. However, BTC has failed to surpass its seven-day price levels, as the Bitcoin price trading down almost 1.5% at the time of press.
- Crypto Market Tumbles as Jerome Powell Says December Rate Cut ‘Far From Certain’
- FOMC Meeting: Federal Reserve Lowers Interest Rates by 25 Bps in Second Cut of the Year
- WLF Token Jumps 7% as Former Robinhood Counsel Joins Trump-Backed World Liberty Financial
- Changpeng Zhao “CZ” Warns Investors “Don’t Buy” Golden Statue Meme Coin After 27,000% Surge
- Markets Expect October Fed Rate Cut as Bitcoin Repeats Post-FOMC Pattern
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
- Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
