Bitcoin price faces ‘bearish divergence’ amid $22K correction target
Bitcoin (BTC) held $30,000 as support before the April 11 Wall Street opening, with fresh doubts emerging over the rally’s strength.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit 10-month highs of $30,438 on Bitstamp.
Almost one month in the making, the final surge to $30,000 delighted many traders who considered the move to be a matter of time.
#Bitcoin / $BTCWhat I'm watching now pic.twitter.com/8bBheMvqT7
Having uploaded a roadmap showing BTC/USD continuing to gain, Crypto Kaleo argued that Bitcoin was still the best investment allocation for capital, rather than cash or altcoins, at current prices.
“Bitcoin is breaking out, of course all of the USD charts are going to look decently bullish,” part of the day’s Twitter commentary stated.
Related: Crypto audits and bug bounties are broken: Here’s how to fix them
Daan Crypto Trades meanwhile gave more attention to altcoins, entertaining the idea that BTC/USD may now consolidate.
“It will be interesting to see what happens around here. I suspect we might see it cooling off a little, which means ALT/BTC pairs should gain some ground,” he wrote in part of a reaction tweet.
He added that Bitcoin market dominance might continue to increase if spot price gains remain brisk.
Despite regaining what had long been a mass resistance zone, Bitcoin did not inspire everyone with its assault.
Related: CPI to spark dollar ‘massacre’ — 5 things to know in Bitcoin this week
With nearly $100 million in shorts liquidated on April 10 through April 11, analytics resource Skew noted that there was “air” on the Binance order book below the $30,000 mark during the breakout.
$BTC Binance Spot Close to $30K now, filling more limit sell orders. Note the gap between
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