AGH! Bitcoin might go back to $25000! SHORT

BTCUSDT

Traders are wondering whether the recent pullback in Bitcoin and other major cryptocurrencies is a buying opportunity or a sign of a downward trend. While short-term traders may be concerned, long-term investors may view this as an opportunity to add to their portfolio. It's generally advisable to avoid buying during a downturn and instead wait for the price to stabilize before making any purchases.

On April 19, Bitcoin closed below the 20-day EMA (28,869) for the first time since March 13, indicating weakness. Although buyers attempted to stage a recovery on April 20, they were unable to surpass the 20-day EMA, which suggests that bears are attempting to turn the level into resistance. The BTC/USDT pair may next fall to 26,500 and then to the neckline of the inverse head and shoulders (H&S) pattern at 25,250.

If the price bounces back from 25,250, it will indicate that the neckline is acting as a higher support level. The bulls will then attempt to push the price back above the 20-day EMA, which could cause the pair to rise to 32,400.

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