Blockchain

Bitcoin Price Prediction: BTC/USD Struggles to Hold Above $7,000 Resistance Level

Bitcoin (BTC) ár előrejelzése - április 4

The Bitcoin (BTC) is currently consolidating and seems to be preparing for the next move either above $7,000 or towards $6,500.

BTC / USD hosszú távú trend: bullish (napi diagram)

Főbb szintek:

Ellenállási szintek: 7,700, 7,900, 8,100 dollár

Támogatási szintek: 5,800, 5,600 és 5,400 dollár

Bitcoin Price Prediction: BTC/USD Struggles to Hold Above $7,000 Resistance Level Blockchain PlatoBlockchain Data Intelligence. Vertical Search. Ai.
BTCUSD - Napi diagram

Yesterday, we saw a sharp decline in Bitcoin price below the $7,036 support against the US Dollar. The BTC / USD pair also settled below the $6,800 support level and above the 9-day and 21-day moving averages. Today, the price is consolidating losses above the $6,750 level and currently trading at $6,748.09.

On the upside, if there is an upside break above $6,800 and $7,000, the Bitcoin price could recover towards the $7,200 and $7,500 levels. However, the main resistance for the bulls is near the $7,700, $7,900 and $8,100 levels. Conversely, there could be more losses if there is no break above $7,000. The main supports on the downside are near $6,500 and $6,000.

However, If there is a downside break below $6,500, the price may accelerate decline towards the $5,800, $5,600 and $5,400 support levels. Meanwhile, the RSI (14) for BTC/USD is currently recovering as it is moving in the same direction waiting for the next move.

BTC / USD középtávú trend: bullish (4H ábra)

Looking technically, BTC/USD should recover above $6,800 above the 9-day moving average to mitigate the short-term bearish pressure and allow for an extended recovery towards $6,900. This psychological barrier is closely followed by $7,000 and $7,200 resistance levels.

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BTCUSD - 4 órás diagram

In contrast, the nearest support is at $6,600 and a sustainable move lower will increase the downside pressure and push the price towards $6,500 and $6,300 support levels. Considering that the RSI (14) on a 4-hour chart is starting to revert to the upside, we might expect that the bull’s case scenario may play out.

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Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-struggles-to-hold-above-7000-resistance-level/256553