Bitcoin Perpetual Future Price Analysis: April 12
- On April 12, the bullish BTC price analysis is at $42,648.5.
- BTC’s bearish market price analysis for April 12, 2022, is $37363.5.
- Bitcoin’s MA shows a downward trend.
In Bitcoin Perpetual Future (BTC) price analysis on April 12, 2021, we use price patterns, and the Moving Average of BTC to analyze the future movement of the cryptocurrency.
Perpetual futures are futures contracts with no maturity, as opposed to dated futures, which expire at a pre-set date and time such as every month or every quarter. Any position in a perpetual future stays open until the trader decides to close the trade by executing an offsetting trade, or until the trade gets liquidated by EQUOS. As perpetual futures have no set expiry they are, in a way, similar to spot exposure. To ensure that perpetual prices are kept in line with the spot market, the contracts have an exchange of payment between buyers and sellers depending on where the future price is trading relative to the underlying spot price.
Bitcoin (BTC)
Cryptocurrency giant Bitcoin (BTC) operates free of any central control or the oversight of banks or governments. Instead, it relies on peer-to-peer software and cryptography. A public ledger records all Bitcoin transactions and copies are held on servers around the world. Every transaction is publicly broadcast to the network and shared from node to node. Every ten minutes or so these transactions are collected together by miners into a group called a block and added permanently to the blockchain.
Bitcoin can be exchanged for cash just like any asset. There are numerous cryptocurrency exchanges online where people can do this but transactions can also be carried out in person or over any communications platform, allowing even small businesses to accept Bitcoin.
When Bitcoin was first launched it was possible to almost instantaneously mine a coin using even a basic computer. Miners also choose which transactions to bundle into a block, so fees of varying amounts are added by the sender as an incentive.
Bitcoin (BTC) Price Analysis
BTC price analysis on April 12, 2022, is explained below with an hourly time frame.
A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound another drop to the same or similar level as the original drop, and finally another rebound. The double bottom pattern always follows a major or minor downtrend in particular security and signals the reversal and the beginning of a potential uptrend.
Currently, the price of BTC is $40,506.77. If the pattern continues, the price of BTC might reach the resistance level of $47232, and the buy level of BTC is $42,648.5. If the trend reverses, then the price of BTC may fall to $37363.5.
Bitcoin (BTC) Moving Average
The BTC’s Moving Average (MA) is shown in the chart below.
Currently, BTC is in a bearish state. Notably, the BTC price lies below 50 MA (short-term) and 200 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of BTC at any time.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/bitcoin-perpetual-future-price-analysis-april-12/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
