Is the ultimate bottom in Bitcoin coming? Traders think $30K could be imminent.
showed a precarious picture of BTC markets on April 27 as bulls battled for control of short-term support levels.
After dipping to $37,700 on April 26, Bitcoin saw a relief bounce that culminated in a rebound to $39,200 — a zone th is now critical to flip back to support, one trader says.the area around $39,300 as a springboard for BTC/USD to attack short-timeframe resistance. Flip it, he said, and the pair could then target $42,600.
"If we lose this one, I think we are looking for short opportunities," he explained, with possible confirmations of a bottom coming below $37,000. "If we lose this level as support, I think it could be nosediving as we're going to trigger liquidity below the lows and then we might be testing some lower levels in which ultimately, if the markets are really ready to nuke, I'm looking at $30,000 as the ultimate bottom for the markets."
Van de Poppe is far from alone in calling for a $10,000 step down. In recent weeks, several figures have given $30,000 as a target, among them former BitMEX CEO
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