BTC Struggles to Maintain $27,000 Level
On April 22, Bitcoin barely held the $27,000 mark as another round of losses weakened the bullish momentum. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD struggling to preserve the $27,000 level after the Wall Street trading week ended on a negative note.
Bitcoin Weakens While US Equities Manage Gains
In contrast to US equities, which managed to secure modest gains on April 22, Bitcoin continued to suffer as analysts warned of a potential return to the $25,000 level. This Drop resulted in a 10% decrease for the week and a 4% decline in April, according to Coinglass data.
Long-Term Uptrend Still Intact, Says Credible Crypto
Trader Credible Crypto maintains optimism about Bitcoin's long-term uptrend, stating that a pullback after a massive rally is common in the crypto market. A retest of the $25,000 level would be logical and healthy for the market.
Expect Slow and Steady BTC Growth
Financial information resource Stockmoney Lizards agrees with Credible Crypto's assessment, suggesting that the road to higher prices may be slow and steady. Crypto analyst CryptoCon also supports this view based on the latest movements in Bitcoin's relative strength index (RSI).
Potential BTC Price Targets Near $25,000
Trader Skew analyzed near-term price targets for BTC/USD, focusing on moving averages (MAs). They identified the $25,000 zone as a key area of interest, with the 200-week MA at $25,850. Market composition remains prone to liquidating traders, with Coinglass data showing April 22 costing Crypto longs another $173 million.
