Bitcoin update price BTC flat crypto rising to worst case

Bitcoin lunch: price BTC and crypto is rising. Silence before bear or bull storm?

Today we present the Bitcoin lunch with rising live Bitcoin price and rising crypto prices. Then we look at what this price rise means for the market. That a storm is coming seems clear, but will it be bullish or bearish?

We start, of course, with the live Bitcoin price and the prices of top 25 crypto.

Live Bitcoin price and prices top 25 crypto rise

At the time of writing, the live Bitcoin price is quoting EUR 37,405.71 ($40,359.37). This is 4.80% higher than during our Bitcoin lunch yesterday.

The other top 25 crypto are also noting price increases. Except for the stable coins, we only see rising prices. The biggest price increase is for Dogecoin (DOGE) with + 29,45%. On the site of Tradeincrypto.com you can study all live crypto prices 24 hours a day.

Does Twitter takeover affect Bitcoin?

Analysts are bawling their eyes out as both stock and crypto prices soar following the news of Elon Musk’s confirmed takeover of Twitter. Last night we already looked at the possible impact of the acquisition on Elon Musk’s favorite crypto, but now the entire market seems ecstatic. That raises the question of what possible impact Elon Musk’s acquisition of Twitter could have for Bitcoin.

Two beneficial effects for Bitcoin can be distilled from his Tweet with future plans. First, Musk plans to fight spam bots. In doing so, he is also tackling the scam and phishing ads that rob people of their BTC and other crypto. This may increase confidence in Bitcoin.

Musk also wants to “open-source” Twitter’s algorithms, opening the way for developers to integrate Bitcoin applications on Twitter.

In that context, there is a third application that is not yet being talked about. Namely, there is already the possibility to pay Tweeps with BTC by tipping them recently. This may open the way to integrate more BTC and crypto payment options into Twitter. This would be the next step towards mass adoption.

The question is whether the growth due to the acquisition news is structural. Looking at the market, we see more volatility anyway, so hefty moves in the Bitcoin price are imminent. The question is whether these will be bullish or bearish. Analysts are divided, so we are looking at both sides of the coin.

Bullish factors for Bitcoin abound

Due to yesterday’s and today’s price increases, we are again seeing quite a few bullish signals for Bitcoin. We list them below:

We’ve seen before that whales spring into action when the price drops below $40,000. This is evident once again. In the past few days, whales bought over 40,000 BTC at prices between $39,900 and $38,300. This gives investors confidence that the whales are preventing further price declines.
Technical indicators such as the RSI and MACD are becoming bullish again. Moreover, Bitcoin is now following a rising trend line again.
Finally, we see that the Hashrate is reaching a record. This means that a record number of miners are participating to keep the network strong. This also creates confidence and thus bullish sentiment.

With all these signals, you would expect the road to price appreciation to be open, but there is one rare but dangerous viper wriggling through the grass.

Rare bear indicator appears for the third time

Due to the price corrections of the past few days, Bitcoin has formed a rare “double cross of death”. In the chart below you can immediately see what this means and the possible consequences.

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BTC weekly:

On 3 occasions the slope of both the 20 & 50ma turned negative.

The first 2 lead to 50%+ corrections.

This time? pic.twitter.com/eIMsQ6dk8H

– Nunya Bizniz (@Pladizow) April 25, 2022

So there is a reason to be cautious. If we look at the Bitcoin price in the short term we see two resistances at $42,000 and $43,000. Previous attempts to break those stranded and led to fixe corrections. Now, however, market volume is growing rapidly due to rising Bitcoin prices and bull indicators.

So the short-term question is whether or not Bitcoin is able to pass these resistances. If not, the question is whether the price can stay above $40,000 and if not whether institutional investors will continue to buy the dip between $38,000 and $39,000. Indeed, the increase in institutional investors is a crucial difference between the previous two double death crosses and this decline.

So for now, we remain cautious and anticipate an uncertain market, in which, by the way, there is money to be made.

We will of course continue to follow the developments. Are you following us?

Want to stay up to date on the latest stock price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”

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