Analysts debate Bitcoin’s next step after today’s $45.5K retest By Cointelegraph

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The euphoric calls for a return of the bull market may have been a bit early especially after (BTC) bulls failed to push the price over the $46,000 level on March 31. Even with the current pullback, analysts continue to expect a lower support retest at the $45,000 level.

Data from Cointelegraph Markets Pro and TradingView shows that today’s attempt to push the price of BTC above $47,500 was soundly rejected by bears which sent the top cryptocurrency plunging to $45,500.

BTC/USDT 1-day chart. Source: TradingView
BTC/USDT 4-hour chart. Source: Twitter (NYSE:)
1-day chart. Source: Twitter
BTC/USD price in 2012 vs. BTC/USD price in 2022. Source: Twitter