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bitcoin price prediction reveals that btc can break the current pattern in the short term and advance towards the $70,000 level.
bitcoin Halving Event Approaching
bitcoin (btc) is recovering, approaching its all-time high from mid-March, all amid the long-awaited April halving event, which is just around the corner. This halving event, which marks the second major trend set to fuel bitcoin's rise in 2024, comes on the heels of the January debut of bitcoin spot price ETFs.
bitcoin Prediction Statistical Data:
- bitcoin Price Now – $69,777
- bitcoin market cap: $1.3 trillion
- bitcoin circulating supply: 19.6 million
- Total bitcoin supply: 19.6 million
- bitcoin Coinmarketcap Ranking – #1
btc/USD Long-Term Trend: Bullish (Daily Chart)
Key levels:
Resistance levels: $81,000, $83,000, $85,000
Support levels: $60,000, $58,000, $56,000
bitcoin/”>btc/USD It is currently trading at $69,777 with a gain of 0.81% since the start of trading today. bitcoin price may head towards the upper boundary of the channel if the bulls increase buying pressure. Furthermore, for btc/USD to stay above the 9-day and 21-day moving averages, many traders might feel that the $67,000 support level could be quite strong.
bitcoin Price Prediction: Would btc Price Go Higher?
bitcoin price might not fall much due to today's trading, but if the first digital coin falls below the $67,000 support level, it could change the direction of the coin to look towards the lower boundary of the channel. Alternatively, bitcoin (btc) may reclaim the previous resistance level of $70,000 to move higher. If successful, btc/USD could target the $81,000, $83,000, and $85,000 resistance levels respectively.
However, the 9-day moving average may need to hold above the 21-day moving average as the currency consolidates around this level. However, if the king coin slides below the lower boundary of the channel, this could mean that there may still be a space that the bears could explore. Therefore, the support levels of $60,000, $58,000, and $56,000 may develop.
btc/USD Medium-Term Trend: Bullish (4-hour chart)
From a technical point of view, on the 4-hour chart, bitcoin price may shoot above the 21-day MA, this may confirm the bullish move if it touches the nearest resistance level of $72,000. Meanwhile, in addition to the above, there is a bit of bullish divergence as the coin crosses above the 9-day moving average to continue the bullish move.
However, if bitcoin price faces the lower boundary of the channel, the market price could reach support at $66,500 or below. Meanwhile, if the current market value rises and crosses above the upper boundary of the channel, bitcoin price could reach the potential resistance level of $73,500 and above.
Meanwhile, @TXWestCapital shared with his 37.1k followers on Did they remove him from his position?
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”6.8918918918919″>
twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin is up ~$2600 so far from this morning's low that was set after the CPI data was released. Did they shake you? twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc pic.twitter.com/iu73XCbZiL
– Christopher Inks (@TXWestCapital) twitter.com/TXWestCapital/status/1778156884555399476?ref_src=twsrc%5Etfw”>April 10, 2024
bitcoin Alternatives
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