Bitcoin Price Prediction: BTC/USD Could Hit $46,000 Level

Bitcoin Price Prediction – April 1

The Bitcoin price prediction shows that BTC bounces off the support at $44,232 as the coin moves close to the resistance level of $46,000 within the channel.

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

Key levels:

Resistance Levels: $51,000, $53,000, $55,000

Support Levels: $40,000, $38,000, $36,000

BTCUSD – Daily Chart

Buy Bitcoin Now

BTC/USD is currently trading around $45,944 with a 0.91% gain after touching the daily low at $44,232. The Bitcoin price may fight to stay above the important level of $46,000 as it could move to cross above the upper boundary of the channel. However, for BTC/USD to remain above this barrier, the bulls may need to make the $44,000 support level to be strong.

Bitcoin Price Prediction: Bitcoin (BTC) May Revisit the Upside

At the time of writing, the Bitcoin price is seen moving to cross above the 9-day moving average, and if it breaks above this barrier, the market price could touch the nearest resistance level of $7,000. However, the king coin needs to claim this important resistance level to head to the upside. Otherwise, the supports at $37,000, $35,000, and $33,000 may likely come to focus.

Nevertheless, the Relative Strength Index (14) is likely to move back into the overbought region, but the recovery may not come easy, and traders must be aware that support will have to be sort above $45,000 before heading to the resistance levels at $51,000, $53,000, and $55,000.

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

On the 4-hour chart, the technical indicator Relative Strength Index (14) moves to cross above 60-level and may rise to the north to begin an upward movement. Moreover, the chart reveals that there is a little bullish movement within the market as the technical indicator could face the upside.

BTCUSD – 4 Hour Chart

However, if the Bitcoin price moves up and breaks above the 21-day moving average, the market price could reach the potential resistance at $48,000 and above. On the contrary, if the current market value drops below the lower boundary of the channel, it may touch the support at $43,000 and below.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

Buy Bitcoin Now

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

  • How to buy Bitcoin
  • How to buy Cryptocurrency

Go to Source

Powered by WPeMatico