Technical market outlook :
Trading BTC/USD (Bitcoin)
After rejecting at the bottom around $37,402; BTC Could climb to $38,711 and above.
If BTC continues to hold at $37,402 then we must respect support, and would be longs may look to this as a line-in-the sand for stop placement.
Bitcoin price will probably move into a bullish zone above the $37,402 level. BTC even extended rise above the $37,402 level before somewhat recovering.
RSI is seeing major resistance above 50% and a bearish divergence vs price also signals that a reversal is impending.
There was a clear tarde above the $37,402 support zone. A low was formed near $37,402 and the pair is now consolidating losses. If there is a recovery wave, the pair could face resistance near the $39,521 level.
The next major resistance is near the $39,521 level. A successful close above the $39,521 resistance might start a steady increase. In the stated case, the pair could rise towards the $40,176 resistance zone in the near term.
The direction of the BTC into the close is likely to be determined by trader reaction to $37,402 and $40,176.
Trading recommendations :
The trend is still bullish as long as the price of $37,402 is not broken. Thereupon, it would be wise to buy above the price of at $37,402 with the primary target at $39,521. Then, the BTC/USD will continue towards the second target at $40,176 (a new target is around $41 k).
Alternative scenario :
The breakdown of $37,000 will allow the pair to go further down to the prices of $36,500 and $36,000.
Crypto industry news (Bitcoin News) :
Exchanges news :
Coinbase introduced Coinbase Intelligence, a suite of tools that Coinbase says is "dedicated to crypto compliance" and "designed to help secure the crypto economy from bad actors." Among the tools is Coinbase KYT (know your transaction), which is meant to help companies determine risks associated with crypto transactions.
Bybit said it launched a dedicated team in Brazil to give Brazilian users access to its crypto trading offering.
NFTs news :
Crypto exchange Coinbase's recently launched non-fungible tokens (NFT) marketplace has so far seen just 742 total users on the platform, including 302 unique sellers and 503 unique buyers, according to Dune Analytics data. The total transactions currently stand at 985, and the total volume at USD 315,874, and total. Out of this, Coinbase NFT saw just over USD 101,000 on April 28 alone.
