Bitcoin price crawls 2.5% off lows as weekly chart risks 'bearish engulfing'
A "horrendous bearish engulfing" risks defining the weekly close, but all may not be lost, Bitcoin price analysts insist. Bitcoin (BTC) sought to snatch back lost ground on April 23 as ten-day lows remained in place. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $26,600 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose to circle $27,700 at the time of writing. Up around 2.5% from the lows set the day prior, the pair remained on traders’ radar as a potential short opportunity into the weekly close. “$26,600 is my target in my short position right now, and being the weekend it may take a bit longer to get there,” Crypto Tony confirmed to Twitter followers on the day. “It is the most logical target and we also have bids popped up down there too now, so i am expecting a reaction once tested.” BTC/USD annotated chart. Source: Crypto T/Twitter That target would mark a new bottom for Bitcoin, which lost 1...