Bitcoin Price Prediction – April 4
The Bitcoin value prediction reveals that BTC is following the bearish motion as the value drops to contact the $45,129 low.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Resistance Levels: $51,000, $53,000, $55,000
Support Levels: $42,000, $40,000, $38,000
BTC/USD is experiencing an sudden selloff because the market value slides beneath the 9-day shifting common. The first digital asset drops sharply to contact the assist of $45,129 on the time that the market opens at this time. However, a reversal might play out, which can ship the king coin above the opening value of $46,420 stage if the bulls step again into the market.
Bitcoin Price Prediction: Where is Bitcoin (BTC) Going Next?
At the time of writing, the technical indicator Relative Strength Index (14) reveals that the Bitcoin value is following a bearish motion. In addition, the technical indicator Relative Strength Index (14) strikes to cross beneath 60-level. This might imply that there is nonetheless room which may be explored by the bears. Therefore, BTC/USD might observe the downtrend if the market value crosses beneath the 21-day shifting common.
On the upside, restoration could also be delayed however any try to transfer in direction of the higher boundary of the channel might negate the bearish state of affairs and permit the king coin to transfer in direction of the resistance ranges of $51,000, $53,000, and $55,000. Therefore, a rise in promoting strain might pressure the Bitcoin value to observe a bearish path in direction of the assist ranges of $42,000, $40,000, and $38,000.
BTC/USD Medium-Term Trend: Ranging (4H Chart)
On the 4-hour chart, the Bitcoin value stays beneath the 9-day and 21-day shifting averages and the chart reveals that the coin is recovering from the decrease boundary of the channel. However, the Bitcoin value is possible to return to the bull market if the 9-day MA stays above the 21-day MA. Higher resistance may very well be positioned at $48,000 and above.
Moreover, if the value drops beneath the channel, the assist stage of $45,000 is probably not ready to maintain the assist because the Relative Strength Index (14) might climb above 50-level. Therefore, the king coin is possible to contact the assist stage of $44,000 and beneath if the value breaks beneath the decrease boundary of the channel.
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