BTC Price Stabilizes over $27.8K for a Potential Rebound on April 7 in Our Prediction for the Price of Bitcoin

As it stabilizes above $27.8K for a potential comeback, the largest cryptocurrency asset has retreated to its range-bound region. For a few days, it’s anticipated that Bitcoin will fluctuate between $27,000 and $28,500. Once the range-bound levels have been crossed, the bitcoin asset will start to move. Due to the Doji candlesticks, the price movement has slowed in the interval.

The current price of bitcoin is $27,935.64. Its market capitalization is $540,259,145,442. Its circulating supply is 19,340,212 BTC, and its total supply is $586,527,742,804 BTC. Bitcoin is ranked first on Coinmarketcap.

Levels of resistance: $50,000, $55,000, and $60,000

Levels of Support: $25,000, $20,000, and $15,000

The price of Bitcoin (BTC) rose above the moving average lines before falling down to the previous range-bound area. Currently, the price of Bitcoin must vary between $27,000 and $28,500. The 21-day SMA will serve as both buyers’ and sellers’ front line of defense. As long as the bulls hold the current level of support, the bears will try to breach below the 21-day Simple Moving Average line. The 21-day moving average line has to be broken in order for selling pressure to resume.

The next support, $26,000, will be reached by Bitcoin after its initial slide. The bearish momentum will then continue until it approaches the $25,200 level. The $28,500 and $29,000 resistance levels, on the other hand, will be broken if the BTC price rises back over the 21-day SMA. Given the upward trajectory, the price will eventually surpass the psychological barrier of $30,000. The price of the coin is now hovering above the moving average line.

Scaramucci asserts that « We’re out of the bear market, » despite Bitcoin’s 70% year-to-date increase

Despite a number of obstacles, 2023 has started out well for Bitcoin, outperforming the S&P 500 Index by over 60%. Following Bitcoin’s stellar start to 2023, Anthony Scaramucci, the founder of SkyBridge Capital, expressed confidence in his company’s cryptocurrency assets by claiming that « we’re over the bear market. » On the other side, « The Mooch » qualified the statement by noting, « That is an estimate. We have no idea. » In an interview with Yahoo Finance on April 6, Scaramucci said that over extended periods of time, Bitcoin has consistently beaten every other asset class.

But if you hold onto Bitcoin for a rolling four-year period, pick the day, and do it, you will have outperformed every other asset class.

As it stabilizes over $27.8K for a potential uptick, the price of bitcoin has been moving steadily upward. The slow price movement might be attributed to the Doji candlesticks. Bitcoin is on the verge of slipping below the 21-day SMA. However, a price recovery that will raise it to its previous highs is going to happen.

Bitcoin substitutes

In the recent day, Bitcoin has maintained its position above the $27,800 mark after retreating above it. As Bitcoin prepares for a potential return, there has been no price movement. The moving average lines have persisted above the present support because buyers have persistently kept it in place. In the event that Bitcoin’s price rises, the $29,000 barrier will be overcome. Until the goal price of $30,000 is attained, the upward tendency will persist. If Bitcoin achieves a new high, it will have an effect on the price of other cryptocurrencies as well as LHINU tokens. Despite fluctuations in the market, the new LoveHateInu (LHINU) has remained steady. High returns on investment were possible for those who bought into the present presale. LoveHateInu team, take note!

Take advantage of this chance to purchase LHINU at Stage 4 of the Presale before the price increases. Don’t wait; there are just a few days remaining to receive your tokens. Already, more than $3.5 million has been raised.

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