Bitcoin Price Prediction: BTC/USD Yet To Trade Above $60,000, Price Touches $56,478 Low ByAzeez MustaphaPRO INVESTOR Updated: 04 April 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) Price Prediction – April 4 Bitcoin continues to fail in overcoming $60,000 as the latest rejection drives the asset to a daily low of $56,500. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $62,000, $64,000, $66,000 Support Levels: $53,000, $51,000, $49,000 BTCUSD – Daily Chart According to the daily chart, BTC/USD is correcting gains from $60,000 and it is likely to start a fresh increase as long as there is no close below $56,500. This past week, the Bitcoin price saw a steady increase above the $58,000 resistance level. Later on, BTC/USD broke the $58,000 resistance and it settled above the 9-day and 21-day moving averages. A high was formed near $60,060 but yesterday the price started a fresh decline. What to Expect from Bitcoin BTC/USD is seen retracing and trading around the within moving averages and the market price stays under the daily high of $58,500 resistance as a sign of bullish momentum. Further increase in the bullish momentum may have to increase the price above this level; another resistance may come at $60,000 before reaching the potential resistance of $62,000, $64,000, and $66,000 levels. However, should the $57,500 resistance level failed to hold, the price may reverse and face the support level at $55,000, further increase in the bears’ pressure may push down the price towards the 21-day moving average and possibly hit the critical supports at $53,000, $51,000, and $49,000. Meanwhile, the technical indicator RSI (14) signal line is moving above 55-level, crossing below it may ignite sell signals into the market. BTC/USD Medium – Term Trend: Ranging (4H Chart) According to the 4-hour chart, the fast-moving 9-day MA remains below the slow-moving 21-day MA; the market price is trading below the two moving averages as a sign of bearish momentum. However, in case the current market value of the $58,000 level still holds, the bears may exert pressure to break down the important support level and the price may decline to $56,000 and below. BTCUSD – 4 Hour Chart Moreover, should the bulls increase their pressure and push the market price above the moving averages, the resistance level of $59,500 may be penetrated and the price may increase to $60,000 and above. Meanwhile, the technical indicator RSI (14) is moving around 45-level to indicate a sideways movement while crossing below this level may suggest a bearish signal. Join Our Telegram channel to stay up to date on breaking news coverage