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EdaFace Newsfeed > Latest News > Crypto News > Crucial Support and Resistance to Watch Now
Crypto News

Crucial Support and Resistance to Watch Now

vitalclick
Last updated: April 8, 2025 1:32 pm
1 day ago
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Contents
Bitcoin SOPR Signals Panic Selling – A Bullish Indicator?Flashback to Past BTC Dips: History Repeats for Patient Investors BTC Price Action: Key Resistance and Support Levels      Never Miss a Beat in the Crypto World!FAQs

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

  • 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. 

Even though bearish pressure is present in the market, the recent bounce offers confidence to buyers. 

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQs

How much will 1 Bitcoin cost in 2025?

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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