Bitcoin Technical Analysis

Bitcoin Monday: Bears are in control, 11th April, 2022

Bears are in control and the largest crypto fell almost by 10% within a week.
Over the weekend BTC was trading fairly range bound, albeit with low volumes. The asset has seen profit booking from higher levels. BTC dominance is at 41.25% and market capitalization stands at $798bn. 

At the time of writing BTC was trading at $42,100.

BITCOIN, after breaking the long held resistance of $45,500, the bulls failed to manage the grip on the asset and were not able to beat the psychological level of $50k. The prices witnessed profit booking at the higher levels and it dropped to $41,800. BTC has a very strong support zone from $40,000 to $39,500 and we expect to see a bounce from these levels, whereas $45,000 and $48,300 will act as strong resistance.

Key Levels:

Support 2Support 1AssetResistance 1Resistance 2

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