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Bitcoin Price Flashed 3 Bullish Hints in a Week and None Delivered a Breakout

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Bitcoin (BTC) price trades at $69,192 on April 6 after gaining approximately 4% from a local low on April 5. The bounce is the third in just a week to emerge from the same technical signal on the 8-hour chart.

Each time, the signal has produced a move to the upside. But each time, the rally has stalled below the same zone. The pattern raises a question that on-chain data can answer, and the answer determines whether this attempt ends differently or joins the first two as another failed breakout.

Three Cues, Same Ceiling

Bitcoin price has been forming a series of near-term standard bullish divergences on the 8-hour chart. The Relative Strength Index (RSI), a momentum oscillator that measures the speed and direction of price changes, made a higher low on each occasion while price printed a lower low. This pattern typically signals weakening selling pressure and precedes a reversal.

The first divergence completed on March 31, with the base date at February 3. Bitcoin rallied 4.83% before the move stalled. The second completed on April 3 and produced only a 1.47% bounce, the weakest of the three. The third completed on April 5 and has so far generated a 4.24% rally, pushing price back toward $69,192.

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8H RSI Divergences
8H RSI Divergences: TradingView

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All three rallies share a common trait. None managed to close decisively above $69,182 on the 8-hour chart, a level where one of the previous bounces flattened. The signal keeps firing. The ceiling keeps holding.

At press time, Bitcoin price sits just above that level, testing whether the third attempt has enough momentum to break through where the first two failed. The answer lies not in the chart pattern itself but in who is buying and who is selling behind the scenes.

Two Conviction On-Chain Pillars Are Weakening

The reason the divergences have not translated into a sustained rally becomes visible in two on-chain datasets.

The first is whale concentration. The number of entities holding 1,000 or more BTC, a proxy for the largest holders in the market, peaked near 1,281 around mid-March. Since then, the count has declined steadily to 1,266 as of April 5. That reduction of 15 whale-tier wallets over three weeks means that the concentrated buying power which typically drives breakouts is thinning rather than building.

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The decline accelerated after March 29, overlapping precisely with the window when the three divergences were forming.

Whale Entities Balance Above 1K
Whale Entities Balance Above 1K: Glassnode

The second is long-term holder behavior. The Long-Term Holder Net Position Change, which tracks whether holders with a history of sustained positions are adding or reducing exposure, peaked at 163,262 BTC around March 22. By April 5, it had dropped to 87,038 BTC, a decline of nearly 47%. Long-term holders are not capitulating, but their conviction has weakened.

BTC Long-Term Holder Net Position Change
BTC Long-Term Holder Net Position Change: Glassnode

The UTXO Realized Price Distribution (URPD), which maps how much supply was last moved at each price level, reveals the structural obstacle sitting directly overhead. A 1.7% supply cluster sits at the current price range near $69,422. This means that 1.7% of all Bitcoin supply has its cost basis at or near the current level, creating a wall of potential sellers who may look to exit at breakeven.

BTC URPD Supply Distribution
BTC URPD Supply Distribution: Glassnode

However, the cluster dynamics change quickly above that level. At $70,685, the supply concentration drops to 1.3%. Beyond that, the clusters thin significantly until around $84,000, where another dense zone appears. The difficulty is getting through the first wall without the whale and long-term holder conviction that usually support breakouts.

Bitcoin Price Levels That Separate a Breakout From Another Stall

The 8-hour chart with the completed swing between March 17 and March 25 frames every critical level for this week.

The immediate hurdle is $69,920. An 8-hour close above that level would indicate that the 1.7% supply cluster at the current range did not sell into this rally, which would be the first meaningful departure from the pattern set by the previous two divergences.

Above $69,920, the swing high at $71,956 becomes the next target, and a close above it would confirm that Bitcoin price has broken out of the range that has contained it since late-March.

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Bitcoin Price Analysis
Bitcoin Price Analysis: TradingView

On the downside, $68,660 serves as immediate support for BTC. Below that, $66,624 has acted as a strong floor with multiple touch points since late March. If that level breaks, the structure deteriorates significantly and $63,329 becomes the next reference.

A clean 8-hour close above $69,920 would be the first sign that this divergence is different from the two that came before, while a failure to hold $66,624 would suggest the on-chain weakness has fully overtaken the technical signals and the next leg moves lower.

The post Bitcoin Price Flashed 3 Bullish Hints in a Week and None Delivered a Breakout appeared first on BeInCrypto.

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Crypto World

Constellation Brands (STZ) Q4 Earnings Preview: Wall Street Braces for Volatility

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STZ Stock Card

Executive Summary

  • Constellation Brands delivers Q4 FY2026 financial results on April 8
  • Consensus forecasts point to earnings per share between $1.71 and $1.74 with revenue around $1.87–$1.9 billion
  • Options market anticipates a ±5.6% price movement following the release — significantly above the 2.89% historical quarterly average
  • Beer segment revenue anticipated to remain steady at $1.71 billion year-over-year; Wine & Spirits revenue expected to decline 57.6%
  • Wall Street consensus leans Moderate Buy with a $169.00 average target price, suggesting approximately 11.77% potential upside

Constellations Brands prepares to unveil its fourth quarter Fiscal 2026 financial performance on April 8, drawing significant attention from the investment community.


STZ Stock Card
Constellation Brands, Inc., STZ

Wall Street forecasts are converging around earnings per share of $1.71 to $1.74, although UBS analyst Peter Grom takes a more conservative stance with a $1.59 projection — noticeably beneath the Street consensus. Revenue expectations range from $1.87 to $1.9 billion, representing an approximate 12–13% decline compared to the corresponding quarter in the previous fiscal year.

The anticipated revenue contraction stems predominantly from the Wine and Spirits division, where analysts project a dramatic 57.6% year-over-year decrease to approximately $194.97 million. This steep decline reflects Constellation’s divestiture of a substantial portion of that business segment, creating a challenging year-over-year comparison. Wine and Spirits operating income is forecast at a mere $2.39 million, a sharp contrast to the $99.70 million generated in the same period last year.

Meanwhile, the beer portfolio — featuring flagship brands Modelo and Pacifico — demonstrates resilience. Beer segment net sales are projected at $1.71 billion, essentially unchanged from the prior year period. Beer operating income expectations stand at $573.63 million, representing a modest decline from the $623.80 million recorded in last year’s fourth quarter.

Derivatives Market Signals Elevated Volatility Expectations

The options market is incorporating a ±5.6% price movement following the earnings announcement — substantially exceeding the stock’s 2.89% average post-earnings fluctuation across the previous four quarters. This elevated implied volatility indicates considerable market uncertainty surrounding the upcoming results.

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Grom from UBS recently elevated his price objective to $176 from $168 while maintaining a Buy recommendation. He cautioned that investor expectations have climbed heading into the release, noting that STZ shares don’t consistently rally even following positive results. His analysis suggests any post-earnings weakness would likely prove temporary.

Evercore ISI analyst Robert Ottenstein takes a more optimistic view on the forthcoming numbers. His EPS model of $1.73 exceeds consensus estimates, and he anticipates beer sales will surpass Street projections. Ottenstein cited encouraging distributor commentary and strengthening beer volume trends as catalysts supporting his bullish outlook.

Premium Beer Portfolio Drives Narrative

Modelo continues ranking among the top-performing beer brands across the U.S. marketplace, with that momentum serving as the primary driver behind STZ’s positive year-to-date performance.

Ottenstein recognized potential margin headwinds from cost pressures but characterized the overall demand environment as solid. Grom reinforced this perspective, highlighting favorable category momentum and consistent market share expansion.

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STZ maintains a Moderate Buy rating consensus across Wall Street — with nine Buy recommendations, five Hold ratings, and one Sell rating issued over the trailing three months. The consensus price target registers at $169.00.

During the past month, STZ delivered a +2.7% return, outperforming the S&P 500 composite’s -4.2% decline. The equity currently maintains a Zacks Rank #3 (Hold).

The Q4 financial results announcement is scheduled for April 8.

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Iran War Bets Put Crypto Prediction Markets on the Macro Map

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Iran, Donald Trump, ARK, Trading, Institutions, Polymarket, Kalshi, Prediction Markets

Prediction markets rapidly repriced the odds of US escalation in the Iran conflict, offering a real-time signal of geopolitical risk for traders.

Odds on platforms such as Polymarket and Kalshi shifted in real time as President Donald Trump paired new threats with signals of possible negotiations on Sunday, while Bitcoin (BTC) rose more than 3.5% on Monday.

Crypto prediction markets are no longer a sideshow during periods of geopolitical tension, with professional desks increasingly using them to gauge macro risk, according to Sygnum Bank chief investment officer Fabian Dori.  

“Prediction markets price discrete, named outcomes with real capital behind them,” Dori told Cointelegraph. “For crypto in particular, where so much price action is driven by specific binary events, regulatory decisions, geopolitical developments [and] protocol upgrades, that is a categorically different signal.”

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Related: Brandt says Bitcoin yet to bottom, Polymarket sees hope: Trade Secrets

Throughout the Iran conflict escalation, prediction market odds on de-escalation shifted before mainstream financial media coverage caught up and “had direct correlation” with Bitcoin price, Dori added.

Prediction markets enter macro playbooks

On some professional desks, prediction markets are now used as a real-time event monitor during fast-moving geopolitical situations, alongside funding rates, options surfaces and flows, Dori said.

ARK Invest integrating Kalshi’s prediction market data into its investment process shows how event odds are migrating into mainstream institutional workflows.

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Iran, Donald Trump, ARK, Trading, Institutions, Polymarket, Kalshi, Prediction Markets
Prediction markets on Iran. Source: Kalshi

In a regulated environment, prediction markets function as a context layer, informing how teams frame risk scenarios rather than serving as direct buy-or-sell signals. 

Related: Prediction markets are testing legal limits in strict Asian markets

“The goal is to decide what to do before the event happens,” he said, arguing that markets that continuously update a capital-weighted probability of war, sanctions or ceasefire are a natural fit for that discipline.

Institutional money and growing scrutiny

The flows are now large enough that institutional investors can no longer dismiss the signal as retail noise. In March, the number of prediction market transactions reached about 191 million, up 2,838% year-on-year, with monthly notional volume rising to roughly $23.9 billion. 

At the same time, traditional exchange operators are moving in. Intercontinental Exchange, the parent of the New York Stock Exchange, completed a new $600 million investment in Polymarket on March 27, deepening its conviction in prediction markets.

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“This is no longer a niche product,” Dori said, adding that the real question for professional investors is no longer whether to watch Iran-linked markets at all, but “how to integrate them in a way that adds genuine analytical value rather than simply adding a new source of noise.”

The boom is also drawing tougher questions about fairness and integrity. Six Polymarket traders netted around $1 million betting on the timing of US strikes on Iran in late February, sparking insider trading concerns.

The platform also pulled a market on a missing US pilot on Saturday after backlash over over related wagers.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder

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