Bitcoin Price Prediction – April 3
As the every day chart reveals, the Bitcoin worth is buying and selling close to the resistance stage of $47,000 because the restoration comes slowly.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key ranges:
Resistance Levels: $51,000, $53,000, $55,000
Support Levels: $42,500, $40,500, $38,500
At the time of writing, BTC/USD is seen buying and selling at $46,453.30 after hovering above the 9-day shifting common on the time of writing. The first digital asset is additionally seen pulling again to the place it is at the moment buying and selling and should head downwards if the bears improve their stress.
Bitcoin Price Prediction: Bitcoin (BTC) May Break to the Upside
On the bullish facet, the Bitcoin worth wants to cross above the higher boundary of the channel, in any other case, there might come a bearish breakdown if BTC/USD falls beneath the 21-day shifting common. Meanwhile, the 9-day MA is above the 21-day MA because the technical indicator Relative Strength Index (14) sends average indicators the place an oscillation to the upper boundary might verify the right development, which is extra doubtless a bullish development on the time of the end result.
However, BTC/USD will verify the bullish development if the market worth strikes above $48,000. Meanwhile, the Bitcoin worth might observe the bearish development if the value drops the shifting averages and face the decrease boundary of the channel. Should this occur, the king coin might slide to the helps of $42,500, $40,500, and $38,500. Otherwise, a powerful bullish spike might push the value in the direction of the resistance ranges of $51,000, $52,000, and $54,000.
BTC/USD Medium-Term Trend: Bullish (4H Chart)
Looking on the 4-hour chart, Bitcoin (BTC) is at the moment buying and selling above the 9-day shifting common. If the value continues to rise additional and strikes in the direction of the higher boundary of the channel, it may attain the closest resistance stage at $48,000 and above.
Moreover, if the bears push the coin beneath the decrease boundary of the channel, the value of Bitcoin might doubtless attain the closest assist at $45,000 and beneath. Now, the technical indicator Relative Strength Index (14) is shifting in the identical course above 50-level, suggesting sideways motion throughout the market.
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