Bitcoin analysis for April 15, 2021
Looking at Bitcoin on a four-hour time frame, we see that bitcoin is making an instant pullback from an all-time high to $ 64,939. Our first support is the moving averages of MA20 and EMA20. The break below leads us to a large support zone of $ 60,000-61,000. There is also a support line of support near us, which we hope will be an obstacle to a bigger pullback. The MACD indicator gives us a bearish signal by descending the blue MACD line below the signal line calibrating us to the negative red territory of the indicator.
Bank of America has released a new survey showing that most professional investors are not too optimistic about the world’s largest cryptocurrency. Nearly 75% of respondents in an April poll of BofA fund managers said they saw Bitcoin as a bubble, CNBC reported. The survey surveyed 200 respondents with $ 533 billion in assets under management. Only 16% of respondents said that Bitcoin is not a bubble, while 10% are insecure. BofA previously published a survey that showed that long Bitcoin turned long tech as the densest trade in January 2021. The latest BofA survey shows significant skepticism about Bitcoin after bank analysts recently called the cryptocurrency extremely unstable, impractical and environmentally destructive property.
Other large US banks prefer digital assets. After Goldman Sachs revealed that as of March 2021, 40% of clients had already had crypto exposure, the investment bank announced that it was preparing a Bitcoin product. In March, JPMorgan announced its cryptocurrency exposure basket, a portfolio of debt instruments that includes shares of companies holding Bitcoin as a cash register.
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