Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Climbs Above $59,000; Time to Resume Higher?

Bitcoin (BTC) Price Prediction – April 1

Looking at the daily chart, BTC is showing positive signs and it is likely to accelerate further higher in the near term.

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

Key levels:

Resistance Levels: $64,000, $66,000, $68,000

Support Levels: $54,000, $52,000, $50,000

BTCUSD – Daily Chart

According to the daily chart, BTC/USD breaches $59,000 as all-time high beckons. The king coin is seen trading well above the 9-day and 21-day moving averages at $59,083. More so, the Bitcoin price is within touching distance of forming a new all-time high above the previous high of $58,800, which is quite remarkable.

Where is Bitcoin Price Going Next?

Presently, the Bitcoin price is trading comfortably towards the upper boundary of the channel as the price establishes a new bullish signal. Like the look of things, one could say that the long-term outlook favors the bulls, giving the daily close produced a large bullish engulfing candle with eyes now set on the daily resistances at $64,000, $66,000, and $68,000 respectively.

Furthermore, any drop from the current level could lead to declines to the critical support below the moving averages. In case BTC drops and touches the low of $55,000 support, then the coin can rely on the long-term support levels at $54,000, $52,000, and $50,000. Moreover, the technical indicator RSI (14) is now moving above 60-level, suggesting more bullish signals.

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

According to the 4-hour chart, the Bitcoin price is seen trading above the 9-day and 21-day moving averages at $59,022. However, today’s price move happens to be an impressive one as it climbs above the long-awaited resistance level of $59,000 with a sharp upsurge. More so, BTC/USD is now maintaining its bull-run above this level as the technical indicator RSI (14) moves to cross above 60-level.

BTCUSD – 4 Hour Chart

However, BTC may take a downward move if the bulls failed to push the price higher and the coin may breach below the 9-day and 21-day moving averages which could reach another support at $56,000 and below. Nevertheless, if the bulls find a decent resistance level of around $60,000, the coin may continue bullish movement above the channel at the resistance level of $62,000 and above.

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close