Analysis of the bitcoin price: it's time to fasten the belts again

The second week in a row passes under the sign of growth of the main crypto currency. A mark of $ 9000 was reached on Saturday, April 21. Currently, the price is not in a hurry to drift down significantly, re-testing this psychological level.

About further possible scenarios of the bitcoin price movement and a little about Ethereum will tell the CEO of the cryptorg.net service and the permanent author of ForkLog Andrey Podolyan .

After the breakdown of the triangle up, the bulls continue to systematically strengthen their positions. The weekly candle closes again in such a way that in the coming days it is unlikely that the bears will have a chance to break the trend.

BTC / USD, weekly chart

On the daily chart, everything also goes according to an attractive scenario for many crypto investors - after the downward trend line breaks up and the triangle leaves, the price continues to grow monotonously, without any obvious kickbacks.

The forecast of the last week was completely fulfilled - the bears could not go below $ 7800 at the beginning of the week, and new growth began from this region.

Now the price stopped near the first, previously voiced resistance level $ 9200. Most likely it will be taken today, and then the important price level will be $ 9800-10000. There is a high probability that many supporters of short-term trading will want to close profits near $ 10,000 and strong short-term sales will follow. The market will be "digested" and the price will continue its upward movement.

Further serious levels are not, up to $ 11,700. Therefore, after $ 10,000, the price of the main coin can "fly away" by a rapid impulse by 1-2 thousand dollars higher.

The third wave is always accompanied by increased trading volumes, as well as impulse movement. This is what can be observed the last few weeks - the accumulation of volumes and then a powerful impulse. There will be several such situations, so "shortistas" should be especially careful.

BTC / USD (breakdown of the triangle and development of the third wave)

Altcoins

It is worth noting the strong growth of altcoins in the last few weeks. Some of them have already made dozens or even hundreds of percent of profits to their holders. Simultaneously with the growth of violas, the bitcoin dominance index decreased.

Bitcoin dominance index

Pay attention to the following situations (the last two of which I noted on the graph): after each convergence of bitcoin and altcoins, a powerful growth of the first crypto currency followed. And now, the indicators are coming together, a little more and there will be a rebound.

Most likely it will be against the background of the fixation of the "X" profits on the altcoins. The resulting profit, as usual, will then flow into bitcoin.

Ethereum

ETH continues its growth. According to our forecast, as well as many altcoins, it grows slightly faster than the first crypto currency. The main goal of the upward movement is the level of $ 777.

ETH / USD

The movement is fairly confident. The weekly chart shows the strength of the bulls and repeats the graph of the main coin. On the day, everything is also quite stable.