Bitcoin Price Analysis: Crucial Support and Resistance to Watch Now

The post Bitcoin Price Analysis: Crucial Support and Resistance to Watch Now appeared first on Coinpedia Fintech News At the start of this month, the price of Bitcoin was at the $82,539 level. Since then, the BTC price has declined by over 3.27%. However, currently, Bitcoin is showing a small sign of recovery as it is slowly inching back to the crucial $80K level. Meanwhile, on-chain indicators suggest panic selling by short-term holders, which some analysts believe is a long-term buying opportunity. With key resistance and support levels now in focus, the market could be on the edge of a major move. Curious to know more. Read on! Bitcoin SOPR Signals Panic Selling – A Bullish Indicator? The BTC Short-Term Holders SOPR indicator value is currently trending downwards. In other words, the BTC Short-Term Holders SOPR indicator shows panic selling. The indicator shows if short-term cryptocurrency holders (who have held their coins for less than 155 days) are selling at a profit or a loss. If the SOPR value is less than 1, they are selling at a loss. This implies that a large number of short-term holders are selling their coins at a loss. Flashback to Past BTC Dips: History Repeats for Patient Investors A crypto analyst, identified as FOUR Crypto Spaces on X, draws a comparison between the current BTC market dip and the $60K dip in 2024 and the $26K dip in 2023. Diamond Hands Forming? Short-term #Bitcoin SOPR flashing “panic sell” = long-term “buy signal”. $80K dips? Time-warp to $60K ’24, $26K ’23. Macro data: weak hands gift strong wallets. Zone in, not pinpoint #BTC #Crypto pic.twitter.com/szcaX3wfIQ — FOUR | Crypto Spaces (@X_Four_iv) April 7, 2025 He claims that dips often recover and lead to new highs. BTC Price Action: Key Resistance and Support Levels Since the start of yesterday, the Bitcoin market has grown by nearly 1.82%. Currently, the price of Bitcoin stands at $79,839 – just 0.17% below the crucial $80K level. #BTCUSD 250408 #CRYPTO NACH SCHWIERIGEM WOCHENSTART IST EIN REBOUND BIS 81140 GELUNGEN, DER ETWAS HOFFEN LÄSST / UM SEINE SITUATION ZU VERBESSERN, MUSS DER BTCUSD 83739 UND 84689 ÜBERWINDEN / BÄREN BLEIBEN JEDOCH GEFÄHRLICH, WESHALB 75762-74458 IM AUGE ZU BEHALTEN IST… CB pic.twitter.com/aBkV24aocp — cb (@cbnote) April 7, 2025 .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : US DOJ Disbands Crypto Enforcement Unit Amid Major Policy Shift , A German BTC analyst, identified as cb on X, states that $83,739 and $84,689 are key levels BTC needs to break to continue going up. On April 6, the BTC market plummeted as low as $77,212, due to extreme market volatility. The analyst warns that if Bitcoin drops below the range of $75,762 and $74,458, it could signal more downside risk. 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As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains. How much will 1 Bitcoin be worth in 2030? With increased adoption, the price of 1 Bitcoin could reach a height of $610,646 in 2030. How much will the price of Bitcoin be in 2040? As per our latest BTC price analysis, Bitcoin could reach a maximum price of $5,148,828. How much will the Bitcoin price be in 2050? By 2050, a single BTC price could go as high as $12,436,545.

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