Bitcoin price looks like a scalpers market; here are the levels to be aware of – FXStreet

Tony Montpeirous Tony Montpeirous

Bitcoin price could go for a countertrend rally. The risky countertrend move could unfold impulsive as wave C of B.
Bitcoin price could continue to fake out traders as Smart Money has completed a successful liquidity hunt two Mondays in a row. The BTC price likely trapped traders looking to short the digital asset into $33,000. The BTC price could continue to rally higher in hopes of liquidating as many short traders as possible.
Bitcoin price trades at $40,166 after today's fakeout. If market conditions remain the same for the next few hours, the bulls will have established a bullish hammer candle which could spark a new uptrend rally for the Bitcoin price. The volume indicator profile looks poised for bullish price action after today's trading session. 
BTC/USDT 1-Day Chart
Analyzing the current downtrend scenario, the potential bull run into $44,000 would finish a very classical head and shoulders pattern. Traders should keep in mind the uptrend rally would be considered wave C of B within the pattern. Thus stronger drops could follow once the target is reached. Nonetheless, it is best to take this trade idea one step at a time.
Invalidation for the short-term bullish thesis is a breach below $36,400 which forecasts a 1-1 setup for traders aiming for the $44,000 target. If the bears manage to breach $36,400, the $33000 target would be the next bearish target resulting in up to a 17% drop from the current Bitcoin price.
TM/BTC/4.25.22 PT2
BTC/USDT 4-Hour Chart

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Bitcoin price could go for a countertrend rally. The risky countertrend move could unfold impulsive as wave C of B. Bitcoin price could continue to fake out traders as Smart Money has completed a successful liquidity hunt two Mondays in a row.
Solana price could see more downside as the bulls fail to establish support on multiple key levels. Solana price could fall an additional 25% into the $78 zone as the bulls failed to hold support following the breakout on March 30th.
Ethereum price could hit new highs with the upcoming Ethereum Merge, Travis Kling, a leading crypto analyst believes it is the biggest catalyst in history. Despite the delay, Merge’s timing is perfect for Ethereum’s price as the event could act as a catalyst for the altcoin. 
XRP price could see liquidity grabs as the SEC delays the controversial securities hearing again. Liquidity under $0.62 has been deemed unsafe eye candy for long-term investors. XRP price still looks macro bullish despite the current market decline.
Bitcoin price reveals an opportunity to buy as it stoops to crucial support levels. This downswing looks to be a ploy from market makers to purge the sell-side liquidity before triggering an uptrend.
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