Buyers need to skip $ 58,000 and they did it

After the fall in the value of bitcoin to $ 46,930, the price recovered by 20%, to $ 56,428. Buyers need to skip $ 58,000, which will allow them to offset the bearish sentiment that emerged in mid-April. Note that the rebound from 46930 is almost exactly the same as the rebound from 43000K.

An active growth phase is expected after May 9. It is also impossible to grow rapidly, since when the price returns to the level of 65 thousand, buyers may face new sales (taking profit on long positions). If a sharp decline in the BTC / USDt pair does not follow from the $ 65000-66000 zone, then you need to prepare for a rally to the level of 77 thousand. The price level is interesting from the point of view of technical analysis.

Also worth noting is one positive news that will support the crypto market after July 1. On April 22, the Bundestag approved a bill, according to which from July 1, German funds for institutional clients will be able to invest up to 20% of assets in cryptocurrencies. According to various estimates, investments in cryptocurrencies will amount to 350 billion euros. So in the summer the crypt will be supported by European funds.

Key support is at $ 46,800. Since the price is growing, it is not worth writing about the decline at the moment. Ether shifted to a maximum of 2803.

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