Bitcoin (BTC) Price Prediction – April 10
BTC/USD rises for the third straight bullish day as the technical indicator on the daily chart crosses above 60-level.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Resistance Levels: $65,000, $67,000, $69,000
Support Levels: $55,000, $53,000, $51,000
BTC/USD is seen pushing the market price above the potential resistance level as bulls keep the price above the 9-day and 21-day moving averages at the time of writing. However, the first digital asset is now moving with strong bullish momentum after a sustainable break above an important technical level.
What to Expect from Bitcoin (BTC)
Looking at the daily chart, the technical indicator RSI (14) is facing the overbought region as the coin seems to create a new monthly high. Moreover, the price seems to have reached the daily high at $61,218, suggesting that BTC/USD could retreat toward $59,500, before attempting to break higher again. Furthermore, the moving averages continue to edge higher, showing no significant bearish pressure for the time being.
Meanwhile, on the upside, the $62,000 level aligns with the initial resistance. A daily close above this resistance level could lift the price to $65,000, $67,000, and $69,000. In other words, Bitcoin could retreat below the moving averages, currently located at $60,468. However, if it breaks below moving averages, the critical supports are located at $55,000, $53,000, and $51,000 respectively.
BTC/USD Medium – Term Trend: Bullish (4H Chart)
According to the 4-hour chart, BTC/USD is currently in the ascending range of the medium-term outlook as the target market is keeping the support levels of $59,000, $57,000, and $55,000. But the Bitcoin market is gaining momentum around the upper boundary of the channel as the buyers keep the position intact.
Looking at the RSI (14) indicator, it shows that BTC price may begin to move down before another rebound could take place. Immediately after the market rebounds, the bulls may hit the resistance level of $62,000, $63,000, and $64,000.