Bitcoin Technical Analysis Report 23 April, 2021

• Bitcoin broke round support level 50000.00
• Likely to fall to support level 45000.00

Bitcoin cryptocurrency recently broke the round support level 50000.00 (low of the previous correction 4 from the end of March), support trendline of the weekly up channel from December and the 38.2% Fibonacci correction of the upward impulse from the end of January. The breakout of the support level 50000.00 accelerated the active impulse waves (i) and C of the ABC correction (2).

Bitcoin cryptocurrency can be expected to fall further toward the next support level 45000.00 (monthly low from February and the target price for the completion of the active minor impulse wave (i)).

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