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April 20, 2022

Bitcoin (BTC) Market Price Update

The bulls in Bitcoin (BTC) put the pressure on on April 20, with a rebound to $42,000 on the Wall Street open.

BTC/USD reached $42,220 on Bitstamp, the highest since April 11, according to data from Cointelegraph Markets Pro and TradingView.

According to Cointelegraph contributor Michal van de Poppe, the pair was currently in line for fascinating behavior after rising as much as 9.3% versus local lows from April 18.

Despite the recovery to the significant $42,000 milestone, there was a lot of volatility, as some people doubted that Bitcoin’s advances would continue.

However, for popular trader Josh Rager, the drop to $38,600 on April 18 and subsequent recovery was a trend to watch.

On April 19, he wrote, “The last couple of fake-outs resulted in over 30%+ uptrends.”

“Many folks were caught off surprise yesterday, albeit it wasn’t as severe as the day before. It’s possible that Bitcoin may continue to rise over the next week – take it day by day.”

Price performance after wicks down to support was noted in an accompanying chart through 2022. The aim this time was about $48,000, which is where Bitcoin’s 200-day moving average is located.

On the macro level, Rager chastised stock market oscillations, claiming that performance was impeded by shifts in sentiment.

On the day after missed earnings prompted a huge sell-off, unusual changes in Netflix shares became a talking point.

On April 20, however, the Fear & Greed Index, a sentiment gauge, reported a better general attitude, with the Index achieving its best score of April so far – 50/100.

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In contrast, the Crypto Fear & Greed Index remained in the “fear” zone at 27/100.