Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Stays Above $43,000 Resistance Level

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Bitcoin Price Prediction
Bitcoin Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

Bitcoin Price Prediction – April 10

The Bitcoin price prediction gains 0.93% as bulls keep working hard to nurture a bullish trend from the opening price of $42,766.

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

Key levels:

Resistance Levels: $47,000, $49,000, $51,000

Support Levels: $39,000, $37,000, $35,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is trading at the $43,165 resistance level but still below the 9-day and 21-day moving averages to touch the daily high at $43,300. For the past few days, the Bitcoin price has been towards the south, and in the context of this; an upward movement towards the resistance level of $45,000 is expected.

Bitcoin Price Prediction: Will BTC Break Above $45,000 Resistance Level?

If the Bitcoin price can continue the upward movement and probably cross above the 9-day and 21-day moving averages, it is likely for the market price to touch the $45,000 level. Once this happens, this is where traders should expect buyers to fight for a further rise in the market. Meanwhile, the purpose of this movement is to provide a resistance level that is close to $46,000 as the technical indicator Relative Strength Index (14) moves to cross above 50-level.

Technically, BTC/USD may experience a quick retracement or sell-off just in case it touches the crucial $42,000 level, but if not; traders may see additional resistance levels of $47,000, $49,000, and $51,000. On the downside, if the market decides to fall, the Bitcoin price could fall below the lower boundary of the channel, and if that support fails to hold the sell-off, BTC/USD could see a further decline towards the support levels of $39,000, $37,000, and $35,000.

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

On the 4-hour chart, traders expect the coin to gain the lost momentum and could trade above $43,000. On the contrary, if the selling pressure still exists and holds the coin not to being able to move towards the upper boundary of the channel, the $41,000 and below may come into play.

BTCUSD – 4 Hour Chart

However, in as much as the buyers keep pushing the price above the 9-day and 21-day moving averages, traders may expect a strong bullish movement that could hit the resistance at $45,000 and above. Meanwhile, the technical indicator Relative Strength Index (14) moves to cross above 50-level, suggesting that more bullish signals may come into focus.

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:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next