Bitcoin analysis for April 13, 2021

Bitcoin reached its all-time high yesterday, reaching a price of $ 63,200, but we believe that is not the end of it. After bullish consolidation of around $ 60,000, we see that the momentum we have been waiting for has happened and launched Bitcoin at a price of $ 63,200. After that, we have a smaller pullback nan current $ 62700. Moving averages continue to support price, making support from below. Now we can wait to see how the consolidation will proceed after the new higher high.
Bitcoin’s (BTC) ‘s price reached a new all-time high at $ 63,478 on April 13 at Binance.
The market sentiment around Bitcoin and Ether (ETH) is predominantly bullish, but the short-term sentiment remains mixed.
Analysts use the term “price discovery” when an asset’s price reaches a new all-time high.
On April 13, the price of Bitcoin entered price disclosure, surpassing its record high level as it broke above $ 62,000. When an asset enters price detection, two scenarios may arise: it becomes overbought and sees a serious correction or a stronger technical momentum and further gatherings.
Although the momentum of Bitcoin is obviously strong, traders are mixed in the short-term trajectory of BTC.
Scott Melker, a trader in cryptocurrency derivatives, said that the four-hour BTC price chart had begun to enter the repurchased territory. Bendik Norheim Schei, head of research at Arcane Research, said the three-month premium on BTC futures reaches 50%. Premiums on the futures market indicate whether customers overheat the derivatives market. If premiums are high, the risk of serious sales as a result of investor investment increases.