- Bitcoin seems ready for the most impressive week in April.
- BTC to kick-start a winning streak with uninterrupted surges as risks diminish.
- A weekly close beyond $44,088.7 could welcome a weekly closing beyond $50,000 next week.
Bitcoin has seen multiple tail risks plaguing its bullish path and catalyzing near-term profit-booking. However, this week was a game-changer, with the leading crypto set to witness its best week in April. BTC prints a lucrative tone into the coming week as tail risks diminish while tailwinds pick the momentum. Such a condition would likely see BTC exploding past $50,000 next week. However, market players should watch some crucial threshold that the crypto need to reclaim.
Bitcoin Witnesses Increasing Investors’ Sentiment amid Fading Tail Risks
Bitcoin is set to kick-start an upward move to secure weekly gains. Remember, the crypto jumpstarted this week’s rally on some optimistic elements. The lucrative news emerged on Thursday as the Macron-Le Pen debate winner pointed to another victory for Macron, easing the dollar strength (in the process). That made investors bolder, while the weakening dollar opened the gates to explosive actions.
Bitcoin could open above $44,088.7 on Monday as Macron’s victory could see the Greenback plunging further, clearing the path for BTC’s uptrends. Furthermore, updates from Ukraine appear to fade to the background, reflecting ongoing negotiation and potential resolution soon. Also, Russian military actions appear concentrated on the West, Ukraine’s focus fading. Steadying this momentum will push Bitcoin beyond $50,019.29 before next weekend. That would mean reclaiming the 200-day SMA and the $50,000 psychological as its support, triggering more upsurges towards the $54,000 mark.
French election remains the most vital risk even during the weekend. If Le Pen wins over Macron, the markets will experience shock from Sunday to Monday morning (ASIA PAC session). The first reaction would be a crash from equity markets and crypto to safe havens like treasuries bid while market players try to re-evaluate the new case on the divided euro bloc. BTC could plunge towards $38K before exploring the $36,709.19 level.
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