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Market Watch April 21: Bitcoin holds on tight to $41k, revisit to $45,000 mark likely

A bullish technical pattern has been identified with a breakout target near the $41,300 mark. Analysts noted a loss of downside momentum on Bitcoin’s daily chart. This is likely to keep short-term buyers active. However, the afternoon trading on April 20 saw the top crypto’s price slip lower.

At the time of writing this article, Bitcoin was trading at $41,527. BTC’s price has been up by 0.28% in the last 24-hours. The world’s most-loved cryptocurrency was holding onto the $41,500 mark after a three-day price increase of nearly $3,000. Crypto analysts highlighted that Bitcoin was benefiting from optimism that a spot Bitcoin exchange-traded fund (ETF) might get the go-ahead from the US Securities and Exchange Commission.

Ali Martinez, a crypto trading expert, believes that Bitcoin is on pace to revisit $45,000. It could also reach $50,000 in the near future. Martinez had earlier pointed out BTC trades at the lower boundary of a parallel channel. It must break the $40,800 mark for a chance to rise to $45,000 or even the $50,000 level. The expert says Bitcoin closing below $39,400 can invalidate the bullish thesis and result in a drop to $30,000.

Michael van de Poppe, a crypto analyst, said Bitcoin is trending upwards. He expects it to continue moving higher for at least a week or two. The analyst said that the crucial area to hold up to is that zone around $40,500. If this level is lost, Bitcoin could slip to $39,300. This could be followed by a short-term bounce to maybe $40,500. BTC could go touch the lows of $37,000.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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