Bitcoin Price Prediction: BTC/USD Must Stay Above $7,000 Or Risk Another Steep DropAuthor: Azeez MustaphaLast Updated: 18 April 2020 Bitcoin (BTC) Price Prediction – April 18Several times, the Bitcoin price has repeatedly failed to break above the critical $7,200 resistance level.BTC/USD Long-term Trend: Bullish (Daily Chart)Key levels:Resistance Levels: $8,000, $8,200, $8,400Support Levels: $6,000, $5,800, $5,600BTCUSD – Daily ChartBTC/USD had a bullish start today as the price went up slightly from $7,035 to $7,135. In the process, the coin is still trading above the 9-day and 21-day moving averages. Over the past few days, the $7,200 resistance level has repeatedly prevented the buyers from moving ahead. Therefore, the bulls will need to conquer this level to continue and, more importantly, sustain the bullish momentum.However, the $7,400 level is the next big resistance level the bulls may need to conquer, which could possibly trigger a significant uptrend in the nearest term. Actually, this may not be possible today because Saturday is usually an infamously slow day for BTC/USD. The coin may likely experience some consolidation before embarking on the next move.Furthermore, the market price for BTC/USD and the daily candle is trading at $7,105 and above the 9-day and 21-day moving averages. The next resistance level lies at $8,000, $8,200 and $8,400. However, if the Bitcoin price failed to extend its movement to the north; traders may experience a price cut to $6,700 vital support. A further low drive could send the price to $6,000, $5,800 and $5,600 supports.For now, the market may likely move in sideways before forging ahead to the next direction. But with a look of things, the daily chart reveals that BTC/USD is rising as the MACD indicates increasing bullish momentum.BTC/USD Medium-Term Trend: Ranging (4H Chart)On the 4-Hour chart, BTC/USD trade in sideways. Nevertheless, the coin has not yet slipped below $6,900 and still in the loop of breaking above the channel. For now, BTC price hovers around $7,109 and may take time to persistently trade above this level as the upward movement may likely near the $7,400 and $7,600 resistance levels if the bulls regroup.BTCUSD – 4 Hour ChartHowever, on the downside, immediate support is seen around the $6,900 level. The price may likely fall below the above-mentioned level if the bears step back into the market, a further bearish movement may reach another supports at $6,800 and $6,600 respectively. Meanwhile, the MACD signal lines have crossed into the positive side, which may likely give the buyers an upper hand in the market.Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.