Will April be a red month?

[dragonvslinux]

After price increased by 10% this month from the opening price of around $28.K, the monthly candle is now down around 4%. Do you think it will now end in the red, if so by how much?

Personally I think reclaiming $28.5K within a week remains possible, given the lack of bearish pressure to push prices below $27K, but also unlikely to see a particularly green candle above $31K. Price is otherwise between the 20 & 50 Month Moving Averages, currently priced at $32.2K and $24.5K respectively. The former is currently trending downwards in bearish formation, the latter is trending upwards in bearish formation.



Price is otherwise re-testing the 50 Day MA at $27.1K, that failed to act as support last month, after the "golden cross" that occurred with the 200 Day MA back in February:



FYI This is just intended as a short-term topic/poll, will lock the thread at the end of the month once the result has been confirmed.

[MainIbem]

It is hard to detect how the price will close this month but I am very optimistic towards the candle ending with green in the month of April 30 and  May 1. Reason being that there were always a strong buying pressure whenever its around the bitcoin halving, although there may be an occurrence that would like effects or affect the market either positively or negatively. When i look at the bitcoin history around a year getting to halving it doesn't always ends the same with other years, although i am not good with candlestick predictions.

[YOSHIE]

After price increased by 10% this month from the opening price of around $28.K, the monthly candle is now down around 4%. Do you think it will now end in the red, if so by how much?

I've read about Bitcoin price predictions and speculation aimed at 2023, especially talking about Bitcoin prices mid-year and end of this year, the phenomenon of the Bitcoin decline in the middle of this month, is not dramatic: the decline is meaningless, meaning Bitcoin stays above $ 20k and never drops below $ 20k.

From the data that I have read and speculated that Bitcoin is currently entering its lowest era, there will be no sharper decline for the next few months, but speculation and predictions never produce 100% accurate data, the crypto market can change unexpectedly, anything can happen, but at least we can think logically now to continue Bitcoin.

[nurilham]

BTC price already increased to around $31k and drop again to around $27k lately. So, I assume there will be a sideways phase in the next few days. I think the price won't go above $30k until the end of this month, it may just go around $27k - $29k. However, it is not impossible to retest to $32k if there is big news about BTC or crypto, but it should be positive news/issues. Since I don't hear any significant issues/rumors on Bitcoin/crypto, I guess we only see the price to move slowly.

[GeorgeJohn]

What I know in bitcoin price, is that it's rotational, and the movement of the candle sticks determined its increment in the market and the continuations of the market can only be determined through the marketcap of demanding of bitcoin is higher than the supply, sometimes when some people jubilate when the market of cryptocurrency changes from red to green it make investors that doesn't know the strength of the chart to conclude that bitcoin has arrived to bullish market, the price of Bitcoin people has been emphasising that we have gotten to bullish seasons are just a speculation, its obvious that bitcoin can retrace higher or neither fall to twenty thousand (20k) so the strength of bitcoin come from adoption or positive information concerning cryptocurrency, so bitcoin can fall today and rise tomorrow,  the price of Bitcoin is not stagnant or stables, it just fluctuate like spin.

[_BlackStar]

After price increased by 10% this month from the opening price of around $28.K, the monthly candle is now down around 4%. Do you think it will now end in the red, if so by how much?

Yes, considering that April is coming to an end in less than a week, it is quite possible to think that the red candle won't turn green in just 5 days. I may not know how much to expect, but the market only looks to be going sideways between $27k to $29k.

I would not expect prices to fall any deeper than they have now for the rest of April. So bitcoin price I might expect to hold above $27k for the rest of April. But then, I would expect the green candle to form again in May, but if it fails then this correction is likely to continue.

[Dr.Bitcoin_Strange]

Personally I think reclaiming $28.5K within a week remains possible, given the lack of bearish pressure to push prices below $27K, but also unlikely to see a particularly green candle above $31K.

Well, that's very possible, but that trend is looking like that of last month, where it almost kissed $30k but still did not, was this month before it saw some green movement to $30,000. Although one week is still too long for it to reclaim $28k or even $29k, I think the candle can still go green before the month ends.

I like how that chart looks. What platform are the pictures taken from? If you don't mind, thanks.

[sheenshane]

Why do I always rely on this website when seeking a prediction?  
It seems it is near to accurate results and based on their forecast, this month seems a Bitcoin correction price until the month of May.

Yes, IMO.
I'm convinced that this month will have a long price drop in the market and eventually show red colors on the chart.
But I don't think it will exceed $25k, it will remain in a range of $25k to $27k which I think is the new starting point to recover the price.

[adaseb]

There is 5 more days of the month, and since its a little red, it'll most likely turn into a red month or a doji. Most likely we will consolidate in this area for another week or so unless there is some important macro news such as bad CPI, bad employment numbers, fed rate hikes ,etc.

However ever since we bottomed, bitcoin traded most days in a very tight consolidation. Very little liquidity and this will most likely continue. And a red month is not bad if its a small correction and not a massive dump.

[Pierre 2]

I feel like bearish attempts are bit too strong right now so I sold some of my bitcoin away converting into usdt. I suppose end of april will end somewhere between 26k and 27k although next month and june we may see another bull atempts on bitcoin. I feel like this minor bull run ended too quickly. I was expecting to see we hitting at least 35k for bears to start pulling price down. Its sad that I was long and I also lost some profits. I still don't think we will experience massive dump this month, not even next month. Bulls wanna drive price way above 30k.

[GeorgeJohn]

Yes, IMO.
I'm convinced that this month will have a long price drop in the market and eventually show red colors on the chart.
But I don't think it will exceed $25k, it will remain in a range of $25k to $27k which I think is the new starting point to recover the price.

We all aware that the price of Bitcoin doesn't have a benchmark and anything can happen in any months, it's obvious that two things is involve in Bitcoin price monthly or weekly, either the price increase higher or it's Falls, it maybe that we have experience all greenish colours of Bitcoin this year and the little red colour we experience will drastically falling or after this month it may rise above twenty eight thousand (28k) or it continues to fall because of the market demand.

However ever since we bottomed, bitcoin traded most days in a very tight consolidation. Very little liquidity and this will most likely continue. And a red month is not bad if its a small correction and not a massive dump.

Actually you are on point but the problem is that Bitcoin decrement when it starts it's difficult before it could regained it's ground of increment, because what triggers the increment is demand rate of investors, while when Bitcoin began to fall it's speculation that made it to continue falling, while all our mindset will be on correction. So in summary, their is every tendency that since the red has surface all throughout next month will be red or it changes to be Green, the increment of Bitcoin and falling is not measurable, from my perspective.

[YUriy1991]

After price increased by 10% this month from the opening price of around $28.K, the monthly candle is now down around 4%. Do you think it will now end in the red, if so by how much?

If you look at the price movement from the current market information BTC is still at $27,300 BTC and is struggling back towards the price of $31K, it seems that the market is experiencing some bearish pressure, which is shown by the downward trend in recent months. . Moreover, the lack of bullish momentum above $31K suggests that a significant price increase may be unlikely.

I think, Nonetheless there is a possibility that the market may recover and end April on a green note if it manages to reclaim the $28.5K level within a week. Is it possible but it's a bit difficult let alone predict how far the market will move in both directions, because there are many factors that can affect price movements.

[dragonvslinux]

Why do I always rely on this website when seeking a prediction?  
It seems it is near to accurate results and based on their forecast, this month seems a Bitcoin correction price until the month of May.

I assume this is sarcastic? Have never seen that website before, is the data available to see the historic accuracy of these predictions? I only see forecasts, not past performance. It otherwise looks like very bearish predictions with a general range between roughly $15K and $30K until 2026, including new lows in 2024 and a high of $44K by 2026? Seems unlikely to me personally. Either way it seems the forecasts are based on very recent data, like 1 year, rather than a decade worth of data that confirms Bitcoin remains in a long-term uptrend, so there's not much reason to be forecasting sideways for the next 4 years...

If I also had to guess, I'd imagine the forecasts at the start of the year was targeting much lower prices in years to come, but now these uber-bearish forecasts have been reduced a bit?*


Edit: I found archives of that website's predictions from 2017-2019 which were completely wrong  

Then notably by end of 2017 these mildly bullish forecasts changed to ultra-bullish, predicting $45K by end of 2018. The predictions in 2021 weren't much better either

*Was totally right about this statement, the forecast from February this year was for sub $10K

[irhact]

We all aware that the price of Bitcoin doesn't have a benchmark and anything can happen in any months, it's obvious that two things is involve in Bitcoin price monthly or weekly, either the price increase higher or it's Falls, it maybe that we have experience all greenish colours of Bitcoin this year and the little red colour we experience will drastically falling or after this month it may rise above twenty eight thousand (28k) or it continues to fall because of the market demand.

While it's true that Bitcoin can go any direction at any moment but it's likely that this month will end in red, this is a correction month and we have been seeing that since the start of the month. Bitcoin drop below $30k means the market doesn't have the demand to keep the price trading above $30k and we'll need some more news but at the moment we aren't getting anything positive.

The only reason the market pump before which was last month was because the market was oversold and was due for some pump. Bitcoin has been finding it difficult to retest $30k and I don't think we can do that before the month ends, we're just 5 days away and things aren't looking that positive.

[Edwardard]

After price increased by 10% this month from the opening price of around $28.K, the monthly candle is now down around 4%. Do you think it will now end in the red, if so by how much?

With just around 5 days remaining for the month of april to end, I don't think we will be able to close the candle in green by any huge margin. My best bet would be the candle might end up somewhere between 26k to 26.5k as I don't believe the recent correction is finished yet. This would be almost neutral anyways (i.e. no bull no bear). Im quite bullish for the upcoming months though after this wave is done.

[Yaunfitda]

I answered Yes.

My reasoning being that $28,500 which used to be the biggest support last March has obviously been broken. And it's going to be very difficult to reclaim that. So we might see the price trading sideways at $27k up until the end of this month. This will be like in the last week of March, wherein as I have said, $28,500 is the price and even if we go down, it's just minor and we will reclaim and go back to that price. So the same thing is going to happen at $27,500. It will be remain at this price until we will have a big news that will push the price in May.

[OgNasty]

It is looking like we’re in the midst of a consolidation month. Probably a good thing after the run we had. As long as we don’t dip below $25K I don’t think there’s any reason to be concerned. The market is facing some headwinds with the government sales and mtgox distributions. However, once those events are behind us it should be off to the races.

[GigaBit]

Though we have seen down trend of Bitcoin in this month, there is no major issue behind it. But it is simple that there will be some correction as the market grows rapidly. Moreover, the possibility of Bitcoin being bullish next year. According to that aspects, the price may be slightly go down, but it won't last long. Bitcoin will bounce back again. However, even if some expect the price of Bitcoin to reach $20k, but some experts say that will not be possible at that moment. The market will remain unchanged in April and a good upward trend can be seen from 1 May.

[Baofeng]

After price increased by 10% this month from the opening price of around $28.K, the monthly candle is now down around 4%. Do you think it will now end in the red, if so by how much?

With just around 5 days remaining for the month of april to end, I don't think we will be able to close the candle in green by any huge margin. My best bet would be the candle might end up somewhere between 26k to 26.5k as I don't believe the recent correction is finished yet. This would be almost neutral anyways (i.e. no bull no bear). Im quite bullish for the upcoming months though after this wave is done.

Yeah, same here. Probably we are going to retest $26k and then we will see if it is going to hold or not. So with that, I will say that April will be red month unfortunately. And if I'm not mistaken, CME Bitcoin future contracts expires every last Friday of the month, so that will be April 28. And usually the price goes down before the contract expirations. And then we might see another sideways, it doesn't mean that it will be bad next month though. So another consolidation phase for all of us, and it's either breakout or breakdown validation next. So overall, this bearish month might be good overall for the long run.

[ivankoh]

Nothing is certain yet, April we passed the major psychological pressure zone at $30k which created a big momentum, it is no longer a modest gain from the $15k time in the market- bear.  It has completely broken out and established a recovery trend, so far at $27k I still think a trend consolidation and consolidation cycle is positive.  I guess we are likely to stick to the $30k target through the end of April.