{"id":9836,"date":"2022-04-04T14:49:05","date_gmt":"2022-04-04T14:49:05","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-dices-with-46k-as-elon-musk-twitter-buy-sends-dogecoin-near-2-month-highs\/"},"modified":"2022-04-04T14:49:07","modified_gmt":"2022-04-04T14:49:07","slug":"bitcoin-dices-with-46k-as-elon-musk-twitter-buy-sends-dogecoin-near-2-month-highs","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-dices-with-46k-as-elon-musk-twitter-buy-sends-dogecoin-near-2-month-highs\/","title":{"rendered":"Bitcoin dices with $46K as Elon Musk Twitter buy sends Dogecoin near 2-month highs"},"content":{"rendered":"
\n

Bitcoin (BTC) traded in uncertain territory on April 4 as the Wall Street open failed to unleash bullish continuation.<\/p>\n

BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

Trader gives $43,000 BTC near-term dip target<\/h2>\n

Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD dipping above and below the $46,000 mark Monday, continuing a low-volatility few days.<\/p>\n

The pair had managed to seal a second week near the 2022 yearly open, with analysts already hoping for a breakout to $50,000 or even beyond.<\/p>\n

At the time of writing, however, there was still no sign of such an outcome, while Bitcoin stuck to an increasingly narrow low-timeframe trading range.<\/p>\n

“Bitcoin is not really clear to me; it could be because of a very slow weekend which is disturbing a bit my view,” popular trader Crypto Ed summarized in his latest YouTube update on the day.<\/p>\n

Highlighting a falling diagonal resistance trendline, Crypto Ed reasoned that a potential pullback could come as early as Monday, resulting in Bitcoin reversing to $44,800 or deeper to near $43,000 should that not hold<\/p>\n

The diagonal, he added, was keeping $50,000 out of reach for the time being.<\/p>\n

Fellow trader and podcast host Scott Melker was tentatively hopeful, noting that Bitcoin was being rejected at the 200-day moving average.<\/p>\n

“Rejected at the 200, meandering down to $45,500; we should be heading up,” he said in a Twitter broadcast<\/a> Monday.<\/p>\n

“Let’s hope that whales do not decide to dump on us just because there is a conference.”<\/p><\/blockquote>\n

Melker was referring to the Bitcoin 2022 event in Miami from April 6-9, a major gathering of some of the Bitcoin world’s best-known names.<\/p>\n

Dogecoin rebound follows Musk’s $3 billion Twitter spend<\/h2>\n

On altcoins, the pack was led by Dogecoin (DOGE) on the day, which outpaced all the major cryptocurrencies thanks to a classic publicity boost from Tesla CEO, Elon Musk.<\/p>\n

Related:\u00a0BTC starts 2022 all over again \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n

After the billionaire revealed that he had bought a 9.3% stake in Twitter, making him the largest shareholder in the company, DOGE\/USD was the clear beneficiary in crypto, climbing almost to its highest levels in two months.<\/p>\n

DOGE\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n

Musk’s move was the result of a survey held on Twitter itself, in which just over two million respondents told him that “free speech principles” were not being upheld by the firm.<\/p>\n

\n

The consequences of this poll will be important. Please vote carefully.<\/p>\n

\u2014 Elon Musk (@elonmusk) March 25, 2022<\/a><\/p><\/blockquote>\n

Other Twitter activity in recent days meanwhile continued<\/a> Musk’s direct interaction with the Dogecoin community.<\/p>\n

As Cointelegraph reported, inflows to altcoins over the past week underscored increased appetite for what on-chain analytics firm Glassnode called “riskier” altcoins.<\/p>\n<\/div>\n