Bitcoin Price Prediction: BTC/USD Ready to Spike Above $47,000
Bitcoin Price Prediction – April 1
The Bitcoin price prediction shoots above $46,000 as bulls are ready to blow hot doing a little to flip the market sentiment at this stage.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $51,000, $53,000, $55,000
Support Levels: $41,000, $39,000, $37,000
BTC/USD keeps following the bullish movement, and it is likely to start a new trend as the 9-day moving average remains above the 21-day moving average. At the beginning of today’s trading, the Bitcoin price touches the low of $44,232 and it is likely to settle above the upper boundary of the channel in the next positive direction.
Bitcoin Price Prediction: BTC Price Ready to Cross Above the Channel
The Bitcoin price is retracing above the 9-day and 21-day moving averages as the market price prepares to cross to a higher level. In the meantime, any further bullish movement may increase the price above the upper boundary of the channel. Meanwhile, another resistance may come at $48,000 before reaching the potential resistance of $51,000, $53,000, and $55,000 levels.
However, if the resistance level of $46,000 failed to hold, it may reverse and face the support level of $44,000 as a further increase in the bears’ pressure may bring down the price below the 21-day moving average, and this could cause the king coin to hit the supports at $41,000, $39,000, and $37,000. In the meantime, the technical indicator Relative Strength Index (14) stays above the 60-level to increase the bullish movement.
BTC/USD Medium-Term Trend: Bullish (4H Chart)
As revealed on the 4-hour chart, the Bitcoin price is hovering within the 9-day and 21-day moving averages at a price value of $46,332. However, with the look of things, the bulls may keep the Bitcoin price above the 9-day moving average but any bearish cross below this barrier may bring the coin towards the support level of $44,500 and below.
Moreover, if the Bitcoin price finds a decent resistance level at $46,000 level, the first digital asset may continue the bullish movement towards the upper boundary of the channel which may likely hit the resistance level of $48,000 and above. However, the technical indicator Relative Strength Index (14) moves above 50-level, suggesting additional bullish signals in the market.
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