Bitcoin may have blasted through the $30,000 mark, but some market participants are warning of a critical lack of strength.
Bitcoin (BTC) held $30,000 as support before the April 11 Wall Street open as fresh doubts emerged over the strength of the rally.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit ten-month highs of $30,438 on Bitstamp.
Almost one month in the making, the final surge to $30,000 delighted many traders who considered the move to be a matter of time.
#Bitcoin / $BTC
— K A L E O (@CryptoKaleo) April 11, 2023
What I'm watching now pic.twitter.com/8bBheMvqT7
Having uploaded a roadmap showing BTC/USD continuing to gain, Crypto Kaleo argued that Bitcoin was still the best investment allocation for capital, rather than cash or altcoins, at current prices.
“Bitcoin is breaking out, of course all of the USD charts are going to look decently bullish,” part of the day’s Twitter commentary stated.
“Look at the alt charts vs. BTC. I don't see any that I like atm. Thus - while you might still be up in USD w/ some alt positions, your capital is still best allocated stacking more Bitcoin.”
Related: Crypto audits and bug bounties are broken: Here’s how to fix them
Daan Crypto Trades meanwhile gave more attention to altcoins, entertaining the idea that BTC/USD may now consolidate.
“It will be interesting to see what happens around here. I suspect we might see it cooling off a little which means ALT/BTC pairs should gain some ground,” he wrote in part of a reaction tweet.
He added that Bitcoin market dominance may continue to increase if spot price gains remain brisk.
Despite regaining what had long been a mass resistance zone, Bitcoin did not fill everyone with inspiration with its assault.
Related: CPI to spark dollar ‘massacre’ — 5 things to know in Bitcoin this week
With nearly $100 million in shorts liquidated on April 10 through Aprill 11, analytics resource Skew noted that there was “air” on the Binance order book below the $30,000 mark during the breakout.
$BTC Binance Spot
— Skew Δ (@52kskew) April 10, 2023
Close to $30K now, filling more limit sell orders.
Note the gap between large bids in the orderbook.
Comments on chart below: pic.twitter.com/LH20GiQIDM
Venturefounder, a contributor to on-chain analytics firm CryptoQuant, meanwhile warned of a “bearish divergence” between spot price and relative strength index (RSI) on the daily chart.
“Looking for a short term correction down to at least $25k sometimes soon, potentially down to $22k,” part of a prediction revealed.
Trader Cheds similarly eyed what he called a “triple bearish divergence” with on-balance volume (OBV), considering a short position but being “not in one” overnight.
“Congratulations to the bulls that were respectful and were calling for 30k,” Il Capo of Crypto, the Twitter trader infamous for his bearish BTC price prognosis, added on the day.
“My bearish scenario is NOT invalidated yet.”
Some were critical of the bearish divergence thesis, meanwhile, with popular trader Crypto Ed dismissing the idea on slightly longer 3-day timeframes.
The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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14.10.25 08:46
robertalfred175
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14.10.25 08:46
robertalfred175
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15.10.25 18:07
crypto
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15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1