$35,000 is gaining importance as Bitcoin prepares to close the worst April in its history.
) sits at a historically important price point for hodlers, but where could it be headed in the coming days?
As the monthly close looms and various countries prepare for the May holidays, traders are mapping out the options — with some surprises.While Bitcoin market commentators rarely agree on much, one thing is more or less accepted this week — that April's monthly closeDue over the weekend, that volatility has the potential to be exacerbated by a lack of trading volume thanks to markets being off either for the weekend or long weekend.
Even with macro participation, however, the situation would seem not to favor Bitcoin bulls.
Jordan Lindsey, founder of trading firm JCL Capital, flagged $35,000 as one of what he sees as just two important"big technical levels." "The only two levels that matter now in Bitcoin. $35k is channel support and below is major technical breakdown. Price is technically bullish since $38k on Feb 4th posted on this account and neutral since $53k breakdown.
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