Main navigation

Bitcoin (BTC) Bulls Should Keep Eye on This Price Level

Mon, 4/12/2023 - 13:15
Bitcoin (BTC) Bulls Should Keep Eye on This Price Level
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Bitcoin (BTC) sparked a new frenzy lately after briefly surging past the $40,000 resistance level for the first time since April 2022, and it is the obvious highest level for 2023. With this trend, getting carried away with FOMO — Fear of Missing Out — is likely, and top market analyst Ali Martinez has shared two key Bitcoin levels to keep an eye on.


Bitcoin Price Hitting $700,000 Predicted by Adam Back Within Year or Two: Details

At the time of writing, BTC is worth $41,511.85, up 5.11% in the past 24 hours, atop a 102% jump in trading volume to $32,083,399,386.

According to Martinez's chart, the next most important price Bitcoin will likely breach is $47,360. While Bitcoin's current outlook suggests retesting this price level is possible in the mid- to long term, the analysts named the $37,000 price zone as the next crucial support zone to watch.

Bitcoin's growth thus far this year has been eclectic, jumping from around $16,663 at the start of the year. The more than 150% year-to-date (YTD) gain has helped it change its narrative in no small measure. Should the coin now succeed in breaching the $47,360 level as Martinez suggested, Bitcoin might ultimately soar beyond $50,000.

Is Bitcoin (BTC) at $50,000 possible?

With Bitcoin's all-time high pegged at $68,789.63, retesting the $50,000 resistance level and more is possible, seeing as the coin has achieved this feat before.

Is Bitcoin ETF Only First Step? Franklin Templeton CEO Predicts Tokenization

While mainstream institutional investor interest in Bitcoin remains high, as showcased by MicroStrategy's consistent accumulations, the potential likelihood of the SEC approving a Bitcoin Spot Exchange Traded Fund (ETF) product will usher in the massive capital that the coin needs to chart an ambitious price surge.

Bitcoin, for now, has shown that while in stealth mode, it can surprise investors with its impressive price maneuvers.


Latest Press Releases

Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
XRP Makes Crucial Price Move, But Massive Roadblock Is Ahead
Cardano Founder Hails Elon Musk's X for Crushing ECB's Bitcoin Diss
First ERC404 Token Pandora Shows Explosive Performance as Whales Turn to Buying
Avalanche Faces Downtime, AVAX Price in Red
Uniswap to Boost User Experience With UNI.ETH Domain Names
Cardano (ADA) Faces Possible Downturn, Top Analyst Warns
$4 Billion Worth of Ethereum (ETH) Purchased at This Price Level
Bifrost Secures 500,000 DOT From Polkadot (DOT) to Boost Liquid Staking
Our social media
There's a lot to see there, too

Popular articles