{"id":259002,"date":"2020-04-28T15:25:59","date_gmt":"2020-04-28T19:25:59","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=259002"},"modified":"2020-04-28T15:25:59","modified_gmt":"2020-04-28T19:25:59","slug":"bitcoin-price-prediction-btc-usd-breakdown-below-7821-looms-can-bulls-bounce-back","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-breakdown-below-7821-looms-can-bulls-bounce-back","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Breakdown Below $7,821 Looms, Can Bulls Bounce Back?"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 28<\/strong><\/p>\n

BTC\/USD is struggling to recover above $7,800 but the coin remains at a risk of a breakdown below the $7,700.<\/p>\n

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

Key levels:<\/p>\n

Resistance Levels: $8,500, $8,700, $8,900<\/p>\n

Support Levels: $6,900, $6,700, $6,500<\/p>\n

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

BTC\/USD<\/a> has been struggling to maintain its position above $7,800 but its price saw another dive below the $7,700 mark today. The coin may be in a dangerous position as the price faces the south. If the breakthrough is confirmed, the downside momentum may gain traction with the next focus on $7,600. At the time of writing, Bitcoin was still above the moving averages of 9-day and 21-day at $7.753.01.<\/p>\n

However, an upside break above the upper channel is a must to start a substantial recovery. Meanwhile, the next hurdles may be seen near the resistance levels of $8,500, $8,700 and $8,900. On the downside, initial support is near the $7,300 level and if there is a successful break below the support level of $7,100, the bears are likely to gain strength by bringing the price to a low of $6,900, $6,700 and $6,500 respectively.<\/p>\n

Currently, Bitcoin price is following a dominant bullish bias and a glance at the RSI indicator displays a slightly negative picture for BTC in the near-term. In addition, maintaining a gradual upward trend in the positive region, the RSI (14) should increase as a signal for an increase in buying entries.<\/p>\n

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

At the opening of the market today, the Bitcoin price first went up a little bit before falling, bringing its price from $7,815 to reach around $7,674. Should the price continue to drop further and move below the 9-day and 21-day moving averages, it could reach the nearest support levels at $7,500, $7,300 and $7,100.<\/p>\n

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

Moreover, if the bulls push the coin above the channel, the price of Bitcoin may likely reach the potential resistance levels of $8,000, $8,200 and $8,400. Presently, the market is indecisive as the RSI (14) indicator moves above 60-level.<\/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 28 BTC\/USD is struggling to recover above $7,800 but the coin remains at a risk of a breakdown below […]<\/a><\/div>","protected":false},"author":1742,"featured_media":259008,"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],"class_list":["post-259002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Breakdown Below $7,821 Looms, Can Bulls Bounce Back?<\/title>\n<meta name=\"description\" content=\"BTC\/USD is struggling to recover above $7,800 but the coin remains at a risk of a breakdown below the $7,700.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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