Bitcoin April Rally

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Is it time for BTC/USD to cool off?

Back in March Bitcoin showed itself to be pa risk-off trade because of the Coronavirus pandemic. The fear of a lack of liquidity ravaged almost all global markets. Bitcoin was not spared.

The subsequent rally throughout April has done a solid FIB retrace and the retail raid zones on the 4H & 1D charts have provided resistance zones so far.

With halving in less than 2 weeks and a near complete recovery of the sell off this will certainly entice bears to try and push their weight around again soon.

BTCUSD has been moving along with stock markets as the world is trying to calculate what is fair value and what risk is worth taking on. Bitcoin will likely be an analog of the larger marketplace because liquidity is impacted across all markets when greed or fear is at play.

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