Bitcoin (BTC) maintained $seven,000 despite strong resistance on April 20 as oil crashed through fresh back up levels towards $10.

Heading into what promises to be a inclement week for traditional markets, hither are v things to watch for Bitcoin traders in the coming days.

Cryptocurrency market daily overview

Cryptocurrency market place daily overview. Source: Coin360

BTC toll resistance

Data from Coin360 and Cointelegraph Markets showed some rare calm for BTC/USD equally the week began. The pair circled $vii,190 at press time, having lingered within a $300 corridor over the weekend.

Bitcoin has now maintained $7,000 support since April 16, while analysts continue to warn that twelvemonth-to-date resistance and the 200-day moving average both nowadays barriers to further growth.

Bitcoin 1-day price chart

Bitcoin 1-mean solar day price chart. Source: Coin360

BTC/USD began 2022 at $7,295, while the 200-mean solar day moving average currently sits at around $eight,000.

"Breaking and flipping the yearly level and I assume we tin continue towards $7,600," Cointelegraph Markets analyst Michaël van de Poppe predicted on Mon.

"Rejecting at $7,200-seven,250 and rolling over and my first targets are $6,600 and $six,800."

Nonetheless, as last week ended, the cryptocurrency moved above the 50-day moving average, flipping previous resistance.

Oil plumbs multi-decade lows

In traditional markets, the picture remained highly varied. Previous omens of $10 oil appeared to exist slowly coming true as WTI crude fell below $15.

The last fourth dimension such prices were recorded was in 1999, while a $ten price tag was rarely seen on market place closes even then — since 1987, a shut of $ten.82 formed the record low, according to data from Macrotrends.

As Cointelegraph reported, even United States President Donald Trump has appeared resigned to the idea of oil falling even as depression every bit unmarried digits per barrel.

"No ane wants oil right now," Bloomberg summarized while tracking the decline on Monday.

Stocks climb but no 1'due south employed

Paradoxically, stock markets continue to proceeds, despite millions of unemployed workers all the same actualization and the U.S. and other governments supporting them with helicopter money.

Commentator Holger Zschaepitz noted on Monday that a handbasket of stocks known as FANGMAN — Facebook, Amazon, Netflix, Alphabet, Microsoft, Apple, Nvidia — traded only 7% below its best highs every bit the calendar week began.

Since its crash in March, Bitcoin has shown a continued correlation with the fortunes of major stock markets.

The increasingly baroque dissimilarity has formed the topic of intense scrutiny by Bitcoin supporters, nevertheless, with Max Keiser arguing that it represents the illicit transfer of wealth away from workers and companies to banks and the state.

Halving countdown

Bitcoin'due south third seminal cake advantage halving is now just three weeks away. Ready to reduce the corporeality paid to miners per block to 6.25 BTC, the event will harden Bitcoin as coin overnight.

In an interview on Sun, Saifedean Ammous, writer of the pop volume "The Bitcoin Standard" made a unproblematic argument for the halving's positive impact on the Bitcoin price.

Once the menses of new Bitcoins halves, he argued, need could theoretically also halve and nevertheless keep BTC/USD at its current level.

PlanB, the analyst behind the celebrated stock-to-menstruation cost model, meanwhile sticks past its latest forecast — by the end of 2022, Bitcoin should merchandise at around $thirty,000.

A healthy difficulty aligning

On Tuesday, Bitcoin's difficulty adjustment feature ways information technology will become viii.5% more difficult to observe new blocks. This is one of the rare larger upticks after difficulty — and interpreted as a bullish sign by some analysts — adjusted downwards following terminal month's toll crash.

As Cointelegraph often reports, difficulty plays a key function in ensuring Bitcoin remains hard money — price fluctuations do not result in coins being mined faster or slower, and the stock-to-flow ratio is thus preserved.

Go on runway of top crypto markets in existent time here