{"id":380464,"date":"2019-05-01T20:00:03","date_gmt":"2019-05-01T20:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=380464"},"modified":"2019-05-01T15:38:51","modified_gmt":"2019-05-01T15:38:51","slug":"crypto-bitcoin-btc-monthly-candle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-bitcoin-btc-monthly-candle\/","title":{"rendered":"Crypto Bulls Rejoice As Bitcoin (BTC) Monthly Candle Closes Above Resistance"},"content":{"rendered":"

At the start of April, Bitcoin price<\/a> broke through resistance at $4,200, triggering a massive rally across the crypto market and a cascading effect of trader\u2019s stops being hit, creating an hour-long price spike of nearly $1,000 per BTC. Analysts believe the initial surge was caused by a single actor who had a strategy in mind<\/a>, planning to cause as much price impact as possible.<\/span><\/p>\n

Regardless of the reason behind the surge in Bitcoin price to over $5,000 where it is currently ranging, the powerful upward movement was enough to revive bullish sentiment throughout the cryptosphere. Now, as the April monthly candle closes bulls are rejoicing over the fact Bitcoin<\/a> has closed over resistance for the first time in \u201cages,\u201d and has even withstood the blow of the Bitfinex and Tether FUD that emerged just days before the monthly close.<\/span><\/p>\n

April Aftermath: Crypto Analysts and Traders See Bull Run Beginnings in Bitcoin<\/span><\/h2>\n

Yesterday\u2019s daily candle close in Bitcoin price<\/a> charts, was also the close of the monthly candle for April 2019 \u2013 a month that has been among the most bullish witnessed for Bitcoin in months, possibly since the leading cryptocurrency\u2019s previous all-time high back in December 2017. Bitcoin and second-ranked crypto by market cap Ethereum<\/a> saw their trading volume surges to peak crypto hype bubble levels<\/a>.<\/span><\/p>\n

Related Reading | Sell in May and Go Away? A Look At Historic Bitcoin Price Performance in May<\/a>\u00a0<\/strong><\/em><\/p>\n

In the end, April closed in the green as expected, at a price of roughly $5,272 on Coinbase. On Bitfinex, an exchange currently embroiled in a scandal<\/a> involving borrowing from Tether reserves to hide an $850 million loss and where Bitcoin has significantly diverged in price, price per BTC closed setting highest daily candle body close since the start of 2019.<\/span><\/p>\n

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$BTC<\/a> monthly:<\/p>\n

This is the first time in ages that BTC has broken resistance & closed above it.<\/p>\n

We've finally got support below us that might actually hold, turning my big timeframe bias bullish.
I'll stick with swing longs until that support fails.
Buys in green would be juicy. pic.twitter.com\/zczGMjmIhY<\/a><\/p>\n

— DonAlt (@CryptoDonAlt) May 1, 2019<\/a><\/p><\/blockquote>\n