As Bitcoin currently hovers near support levels, smaller fluctuations of +\/- $1k are anticipated, while moves between $27.5k and $32k would still be within the normal range as shown by the weekly volatility bands.<\/strong><\/p><\/blockquote>\n However, the analysts expect some wicks to the downside. In case of a sustained downside break, the next support area would be at $25,500 to $26,000 . But according to the analysts, the risk is rather low.<\/p>\n The Bitcoin risk signal is at 0 and looks a bit shaky in the short term despite the recent volatility, but is not indicating any panic selling. The Fear and Greed Index has pulled back from the greed zone to a neutral position at 52 points. Moreover, the analysts argue for a healthy correction in the market:<\/p>\n The current market environment, characterized by unrealized profits outpacing unrealized losses (see NUPL on glassnode), implies optimism in the medium and long term.<\/strong><\/p><\/blockquote>\n Technical analyst Micha\u00ebl van de Poppe expects that there will be a “classic Monday drop” before there is a reversal. Bullish events this week could be the release of the U.S. Gross Domestic Product for the first quarter (Thursday) and the release of the Core PCE (Friday).<\/p>\n Crucial for a reversal, according to the analyst, is the price level at $27,800. “Divs in $26,800 area for longs on Bitcoin,” notes the analyst, who also explained:<\/p>\n Correction as CME gap came in for Bitcoin. Back towards the resistance, for the second time. If Bitcoin breaks $27,800-28,000 entirely in the coming few days, acceleration towards $29,200 seems next. Funding negative on ETH, so a bounce is getting close.<\/strong><\/p><\/blockquote>\n The renowned trader @exitpumpBTC takes a similar stance: “Want to see manipulation like Monday dump, consolidation with shorts piling up at the lows around $26K and Tuesday recovery with limit chasing by buyer.”<\/p>\n![\"Bitcoin](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/e5342719-5d53-483a-adbf-26c6746132fb_2287x1086.png?resize=2287%2C1086\")
![\"Bitcoin](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/FudMcJvXwAEvcy0.png?resize=2474%2C1236\")