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Bitcoin Price Prediction: BTC/USD Retraces Below $46,000

Bitcoin Price Prediction – April 4

The Bitcoin worth prediction signifies bearish momentum because the con fails to cross above the 9-day transferring common.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key ranges:

Resistance Levels: $50,000, $52,000, $54,000

Support Levels: $43,000, $41,000, $38,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

At the time of writing, BTC/USD is hovering at $45,701. There have been situations when BTC touches the low of $45,559 to maintain the bearish worth motion. At the time of writing, the trail of least resistance is nonetheless downwards, and the every day chart exhibits that the formation of a bearish might come into focus.

Bitcoin Price Prediction: BTC Fails at Crucial Resistance

At the time of writing, the bulls are struggling in maintaining the Bitcoin worth above the 9-day and 21-day transferring averages however the worth is presently dropping under the 9-day MA. BTC/USD has been struggling because the European session because the technical indicator Relative Strength Index (14) crosses under the 60-level. This may imply that the King coin is not but prepared for the upside.

On the upside, restoration might not come straightforward because the coin would have to cross above the 9-day transferring common. Meanwhile, a sustainable transfer above this barrier might find the resistance stage of $47,000, which can permit for an prolonged restoration in the direction of the potential resistance ranges at $50,000, $52,000, and $54,000. However, a rise in promoting strain throughout the market may deliver the Bitcoin worth in the direction of the helps at $43,000, $41,000, and $39,000.

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BTC/USD Medium-Term Trend: Bullish (4H Chart)

The Bitcoin worth is buying and selling under the 9-day and 21-day transferring averages on the 4-hour chart. However, if the worth breaks above the transferring averages, it may face the higher boundary of the channel. Meanwhile, larger resistance can be positioned on the resistance stage of $46,000, and because the technical indicator Relative Strength Index (14) prepares to transfer above 50-level, the king coin might hit the resistance stage of $47,000 and above.

BTCUSD – 4 Hour Chart

On the opposite hand, if the bearish motion will increase, the assist stage of $45,000 might not be ready to maintain the promoting strain, and BTC/USD is seemingly to fall to the assist stage of $44,500 and under if the worth crosses under the decrease boundary of the channel.

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