Can Bitcoin reclaim $30K? Watch these BTC price levels next
Bitcoin (BTC) fought to regain lost ground at the April 19 Wall Street open as traders called for calm on the day’s downside.
Data from Cointelegraph Markets Pro and TradingView monitored BTC/USD as it crawled toward $29,500 on Bitstamp.
The pair had shed $1,000 in minutes earlier on the day as over $200 million in long liquidations accompanied a return below $30,000.
Reactions subsequently linked the price action, which originated in a 16,000 BTC market sell on Binance, to a potential forthcoming news event, this ultimately failing to materialize at the time of writing.
$BTC Either a new local low here if $29K is held & no FUD is dropped later However, 16K BTC is unusual size to be market sold solely from Binance spot usually the kind of sale happens before bad news comes out. if a nothing burger event; could see an omega short squeeze…
Market participants thus remained level-headed, arguing that important support levels were still present amid a healthy retracement.
“A move to 28k is normal/healthy,” popular trader Credible Crypto wrote in part of Twitter commentary.
#Bitcoin Watch and know your levels to stay ahead. Manage your risk around them.Still holding the important repair and breakout above $29,000. pic.twitter.com/wsNOaLSJUW
Fellow trader Crypto Tony was more cautious, hinting that he expected further downside to ensue next.
“Got a feeling many longing now are going to regret it on Bitcoin,” he tweeted.
Trader and analyst Rekt Capital meanwhile eyed $28,800 as the key level to watch on weekly timeframes.
#BTC has relief rallied into the Higher High, Though $BTC Daily Closed above the Higher High, price wasn't able to reclaim it as support~$28800 (orange) is the key support to hold on the Weekly#Crypto #Bitcoin
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