BTC/USD: April 4 Bitcoin Price Prediction Over $29,000, Bulls May Re-gather

According to the Bitcoin price prediction, BTC is retracing over $28,000, and in order for the currency to move higher, it needs to hold above $28,500.

Statistical Information for Bitcoin Prediction:

  • Now $28,149 for one bitcoin
  • $541.9 billion is the market value of bitcoin.
  • Currently, 19.3 million bitcoins are in circulation.
  • A total of 19.3 million bitcoins are available.
  • Ranked first on Coinmarketcap for bitcoin

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

Major levels:

Levels of Resistance: $33,000, $35,000, $37,000

Levels of Support: $24,000, $22,000, $20,000

After receiving a light beating from the bears, BTC/USD bulls may gradually resume their bullish movement. The likelihood of recovery might materialize if this takes place. BTC/USD has risen sharply from $27,793 to record the daily high today at $28,519. When the bears returned to the market, the king coin fell back to where it is presently trading and may continue to move lower.

BTC Could Move Sideways in Bitcoin Price Prediction

The buyers and sellers are waiting for a decisive breakout or breakdown as the price of bitcoin is now hovering around $28,149 above the 9-day and 21-day moving averages. Nevertheless, if the $28,500 level holds, the $29,000 and $29,500 levels may emerge as further significant resistance levels. A big bullish surge, however, might push the price as high as $33,000, $35,000, or $37,000.

Furthermore, should the market quickly turn south, the BTC/USD price might fall to $27,000. Should this support fail to stop the sell-off, traders could witness a further decline to $24,000, $22,000, and perhaps $20,000. Relative Strength Index (14) is a technical indicator that predicts higher momentum as long as the signal line is above the 60-level.

Medium-term Trend: Ranging for BTC/USD (4 Hour Chart)

The BTC 4-hour chart reveals that the king currency is continuing to fluctuate below the 9-day and 21-day moving averages. But after the recent recovery at $28,104, which is now a crucial support level, the next crucial support level can be located at $27,000 and lower.

The Bitcoin price may, however, rejoin the bullish rise to the $28,500 resistance given the most recent rapid bounce. The price of bitcoin might reach the $29,500 resistance level if it climbs above the previously indicated obstacle. Given that the Relative Strength Index (14) is currently going below the 50-level and may keep moving lower, it appears that the bears may soon return to the market.

Substitutes for bitcoin

The price of Bitcoin is now hanging at $28,149. Given the consolidation pattern in place, the king coin maintains its position above the moving averages, and any additional positive advance toward the channel’s upper limit might reach the closest resistance level of $29,000. The LHINU project is ideal for you to invest in, nevertheless, if you have ever loved doing surveys and expressing your ideas. Don’t pass up the chance to join the expanding Love Hate Inu group; the current presale has already raised close to $3.5 million.

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