Bitcoin (BTC) fell below $29000 on April 20th, and both sides are facing a battle for dominance with the withdrawal of troops in March.

Will $30000 become Bitcoin's latest "Bart Simpson"?

According to statistics from Coindigraph Markets Pro and TradeView, the Bitcoin/USD ratio in Bitcoin will increase to $28800.

Earlier, the wick less than $28600 was quickly bought, but Bitcoin still had the possibility of throwing $29000 into friction on that day, because trader had already cared about an important support area.

Despite the gradual adjustment of the Bitcoin market, we still have average investor profit taking, "Glassnode's top chain analyst Checkmate wrote in a section of his Twitter explanation.

For me, this indicates that the main funds are still being withdrawn, and we have not completely replaced top customers as we did in March

Checkmate added that he is waiting for the losses to stabilize, which is also a "anxiety" data signal for those who chose to buy BTC when it recently exceeded $30000.

The attached chart shows the revised expenditure output rate gross profit margin (aSOPR) indicator value, which includes the overall income statement for on chain buying and selling.

Some more positive and optimistic views still exist. Analyst Matthew Hyland stressed that Bitcoin's Relative strength index (RSI) is at the end of a month under the framework of daily duration.

RSI can gain insight into the overbought or oversold situation of BTC/USD in the given total demand, although it is still relatively high, this reset and subsequent reversal are likely to indicate a growth trend.

Elsewhere, popular trader and analyst Jelle once again noticed the BTC/USD imitation, which basically followed the price lottery in 2020.

This ultimately led to a so-called "Bart Simpson" gameplay - one higher, followed by a plateau and subsequent adjustments - but then erupted even higher.

Jelle's prediction analysis: "So far, $28.800 is the bottom end. If we can stay here up and down next week, I estimate everyone will soon break through $30000.

BTC Price Return to 'Logical Position'

With the recent return of volatility to BTC/USD, John Bollinger, founder of the Bollinger Band Volatility Index, also calls for caution.

Regarding: Is Bitcoin overbought or oversold? Find the answer using the Brin tape!

He emphasized on the same day that Bitcoin had already flipped over with its upper band and chose to give up breaking through.

He wrote on Twitter, "Bitcoin has just dropped to the middle of the Brin Belt and its previous breakthrough level. People call this a logical area. Now it's time to pay attention.

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