Bitcoin Price Prediction: BTC/USD Could Face Fresh Support Below $66,000
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Bitcoin (BTC) Price Prediction – April 6
The Bitcoin price prediction shows that BTC could start another decline unless there is a strong move above the $70,000 resistance level.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $76,000, $78,000, $80,000
Support Levels: $60,000, $58,000, $56,000
BTC/USD momentum wanes as it hovers near the $69,000 resistance level. Currently, the leading cryptocurrency sits at $67,721, down 1.24% for the day and trading within the confines of the 9-day and 21-day moving averages. Bitcoin faces challenges to surpass $68,000, but a breakthrough could propel it beyond $70,000 in a positive direction.
Bitcoin Price Prediction: Bitcoin (BTC) Range-bounds
The Bitcoin price action suggests a range-bound pattern, with attempts to surge above $68,800 met with resistance, leading to a slide below the 9-day moving average. Despite recent struggles, the coin managed a brief rally in today’s session, only to be pushed down by sellers, reaching a low of $66,022.
Potential support lies around $67,500, with further downside targets at $60,000, $58,000, and $56,000. The bullish indication of the 9-day MA above the 21-day MA suggests potential upward movement, with resistance levels at $76,000, $78,000, and $80,000 if the upper boundary of the channel is breached.
BTC/USD Medium-term Trend: Ranging (4H Chart)
In the medium term, on the 4-hour chart, BTC price hovers near $67,771, possibly taking time to approach the upper boundary of the channel. A bullish scenario may see it heading towards the $73,000 resistance level.
Conversely, immediate support lies around $65,000, with critical support at $62,500 and below, potentially leading to a decline toward the channel’s lower boundary. The bullish indication persists with the 9-day MA above the 21-day MA.
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