Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD May Cross Above $50,000

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin Price Prediction – March 28

The Bitcoin price prediction is currently trading above the resistance level of $47,500 as the coin plans to continue higher.

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

Key levels:

Resistance Levels: $52,000, $54,000, $56,000

Support Levels: $44,000, $42,000, $40,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD begins the day with a tremendous bullish movement as the coin touches $48,240 in the early hours of today, but at the time of writing, the king coin is now trading towards the upper boundary of the channel. However, within a few hours of the day, BTC/USD may touch another daily high of $49,000 but now changing hands at $47,661.

Bitcoin Price Prediction: BTC Price Ready to Cross Above $49,000 Level

At the moment, the Bitcoin price is yet to hit $50,000 resistance as the coin keeps moving to the upside above the 9-day and 21-day moving averages. Meanwhile, when the new bullish movement begins to form, the Bitcoin (BTC) may use the 9-day moving average as the nearest support level. But as long as the 9-day MA remains above the 21-day MA, the market may continue to follow the upward movement.

However, if the market decides to go down, traders may see a further drop to $44,000, $42,000, and critically $40,000. More so, the resistance levels are located at $52,000, $54,000, and $56,000 respectively. Meanwhile, the signal line of the Relative Strength Index (14) moves to cross into the overbought region to suggest more bullish signals.

Punt Crypto Casino Banner

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

Looking at the 4-hour chart, the Bitcoin price is currently trading around $47,525 above the 9-day and 21-day moving averages. The chart also reveals that the bullish supply is coming up slowly in the market as the bears are also dragging the price down. Meanwhile, the $45,000 level and below may come into play if BTC breaks below the moving averages.

BTCUSD – 4 Hour Chart

Meanwhile, as soon as bulls push the coin above the upper boundary of the channel, traders can expect more uptrends. Therefore, breaking the mentioned barrier could also allow the bulls to touch the resistance level of $50,000 and above. However, BTC/USD is consolidating currently on the medium-term outlook as the Relative Strength Index (14) moves within the overbought region.

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

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

Read more:

Read next

X

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

Buy Crypto

68% of retail investor CFD accounts lose money.

eToro - Best Cryptocurrency Platform
Buy Crypto

68% of retail investor CFD accounts lose money.

X