{"id":256668,"date":"2020-04-06T10:38:46","date_gmt":"2020-04-06T14:38:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=256668"},"modified":"2020-04-06T10:38:46","modified_gmt":"2020-04-06T14:38:46","slug":"bitcoin-price-prediction-btc-usd-bulls-take-the-price-above-the-critical-7000","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-bulls-take-the-price-above-the-critical-7000","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Bulls Take the Price Above the Critical $7,000"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 6<\/strong><\/p>\n

Looking at the daily chart, the Bitcoin price is trading in positive territory, up 4.85% in the second half of the session.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $8,000, $8,200, $8,400<\/p>\n

Support Levels: $6,000, $5,800, $5,600<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

The daily chart reveals that BTC\/USD<\/a> broke free from the recent range and the upside momentum is gaining traction. Now that BTC\/USD settled above $7,000, crypto bulls set their eyes at $7,500, which is the next critical resistance for the first digital coin. According to the technical indicator RSI (14), BTC\/USD is currently in the hands of the bulls.<\/p>\n

Currently, the market price for BTC\/USD and the daily candle is trading at $7,125 but if the bulls could successfully push the price above the channel, the next resistance levels may be found at $8,000, $8,200 and $8,400. Typically when the new uptrends are beginning to form, traders may use both the 9-day and 21-day moving averages as the nearest support level.<\/p>\n

However, any failure by the bulls to move the price up, we may see a price cut to $6,500 vital support. A further low drive could send the price to $6,000, $5,800 and $5,600 supports. For now, the bulls are still dominating the market. But as things stand, the BTC\/USD price may continue to follow the upward trend because the RSI (14) focuses on the north.<\/p>\n

BTC\/USD Medium-Term Trend: Bullish (4H Chart)<\/h4>\n

Looking at the 4-hour chart, the bears wanted to step back into the market by bringing the price from $7,183 to $7,054, but the bulls quickly held the support by picking the price from there to where it is currently trading at $7,089 which is above the 9-day and 21-day moving averages. Meanwhile, the $7,500 and above may come into play if BTC\/USD breaks above the channel.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

However, if the price breaks below the moving averages of the ascending channel and begins to fall, the support levels of $6,700 and below may be in focus. Meanwhile, as the technical indicator RSI (14) moves around 70-level, more bullish signals may play out before a reversal could come in.<\/p>\n

Please note:<\/strong> Insidebitcoins.com<\/a> 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.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 6 Looking at the daily chart, the Bitcoin price is trading in positive territory, up 4.85% in the second […]<\/a><\/div>","protected":false},"author":1742,"featured_media":256669,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Bulls Take the Price Above the Critical $7,000<\/title>\n<meta name=\"description\" content=\"Looking at the daily chart, the Bitcoin price is trading in positive territory, up 4.85% in the second half of the session.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/256668\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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