Bitcoin weekly: April BTC futures last trade
Price
On April 17 BTC pushed off the 8000.0 resistance and started growing. Since Tuesday whole week went under the bullish pattern, breaking 8300.0 and 8500.0 resistance levels, which now considered as support. On Saturday BTCUSD tested 9000.0 resistance level, which now coincides with the 100-days EMA, but did not manage to break it and rolled back to the 8800.0 level. For now, the weekly pattern of the price looks bullish and ready to test 9000.0 resistance one more time.
Forecast
Due to the closing of CME Bitcoin Futures on 27 April (settlement date will be on 2 May) BTCUSD can experience increased volatility and unpredictable price hikes. Possible the occurrence of false dives and pumps above important levels. Boundaries for the upcoming week are 8500.0 - 9500.0.
Past week events
Upcoming week events
*27 April - CME Bitcoin Futures April 2018 last trade. There have been some vague concerns that because bitcoin futures are settled in cash, it might be possible for investors to push around the futures contracts at the close simply by aggressively buying and selling. Jan 17 BTC futures close at 10900 USD was a “win for bitcoin bears over the bulls”.
On April 17 BTC pushed off the 8000.0 resistance and started growing. Since Tuesday whole week went under the bullish pattern, breaking 8300.0 and 8500.0 resistance levels, which now considered as support. On Saturday BTCUSD tested 9000.0 resistance level, which now coincides with the 100-days EMA, but did not manage to break it and rolled back to the 8800.0 level. For now, the weekly pattern of the price looks bullish and ready to test 9000.0 resistance one more time.
Forecast
Due to the closing of CME Bitcoin Futures on 27 April (settlement date will be on 2 May) BTCUSD can experience increased volatility and unpredictable price hikes. Possible the occurrence of false dives and pumps above important levels. Boundaries for the upcoming week are 8500.0 - 9500.0.
Past week events
- 16 April - Blockbid Exchange (Beta Testing) Listing. Blockbid Exchange has announced that beta testing will officially launch on the 16th of April 2018. Bitcoin (BTC) will be listed in phase 1 of beta. There will be free trading during Blockbid’s beta: no deposit fees, withdrawal fees, trading fees or transaction fees.
- 17 April - Tax day in the USA. Many analysts attributed the recent drop in bitcoin price to the approach of US Tax Day. Till this day all cryptocurrency businesses had to turn their tax liabilities from crypto-currency into dollars. Also, a lot of analysts predicted growth for the BTC prices afterward.
Upcoming week events
*27 April - CME Bitcoin Futures April 2018 last trade. There have been some vague concerns that because bitcoin futures are settled in cash, it might be possible for investors to push around the futures contracts at the close simply by aggressively buying and selling. Jan 17 BTC futures close at 10900 USD was a “win for bitcoin bears over the bulls”.
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