Bitcoin does not hold $40K with traders still wishing for any BTC cost relief bounce

Bitcoin (BTC) pierced $40,000 in the Wall Street open on April 26 since it’s latest relief rally lasted under 24 hrs.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

$39,500 eyed as BTC safety internet

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD shedding from local highs of $40,800 on April 26.

During the time of writing, volatility is at evidence as bulls and bears tussled for $40,000, an amount this was beaten with April 25’s uptick.

U . s . States equities led to the return of sell-side pressure, using the Nasdaq 100 quickly losing 1.5% around the open and also the S&ampP 500 buying and selling lower nearly 1%.

For popular trader Crypto Erectile dysfunction, the chances were on for a vacation to $39,500 before another relief bounce required the marketplace greater, potentially towards $42,800.

An identical position originated from fellow analyst and trader Rekt Capital, who spied underlying relative strength index (RSI) support as grounds to anticipate bullish continuation following a possible dip.

“BTC might be dipping now however the red diagonal around the RSI shows that this current rally is not over,” he tweeted alongside a chart showing the setup.

“$BTC could dip to as little as the red area but will be able to enjoy trend continuation later on upon effective retest.”

BTC/USD annotated chart with RSI. Source: Rekt Capital/ Twitter

As Cointelegraph reported, RSI continues to be accountable for various short-time-frame breakouts on BTC/USD in recent several weeks.

Dogecoin holds Twitter-inspired gains

On altcoins, it had been Dogecoin (DOGE) once more leading those, using its latest gains propelling it into the top cryptocurrencies by market cap.

Related: Dogecoin cost risks 40% correction despite Elon Musk-Twitter excitement

Famous as his pet crypto asset, DOGE had profited from Tesla Chief executive officer Elon Musk closing an offer to purchase Twitter, and DOGE/USD was up 11% in 24 hrs during the time of writing.

DOGE/USD 1-hour candle chart (Binance). Source: TradingView

Also performing well was Terra’s LUNA token, while largest altcoin Ether (ETH) copied Bitcoin in neglecting to hold major support, this time around at $3,000.

On monthly timeframes, however, ETH/USD was still being supporting, Rekt Capital contended, regardless of the low-time-frame weakness.

The views and opinions expressed listed here are exclusively individuals from the author and don’t always reflect the views of Every investment and buying and selling move involves risk, you need to conduct your personal research when making the decision.

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