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Bitcoin (BTC) Price Analysis for April 1

Sat, 04/01/2023 - 13:58
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Denys Serhiichuk
Can Bitcoin (BTC) continue its rise?
Bitcoin (BTC) Price Analysis for April 1
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The weekend has started with ongoing bull dominance, however, there are some exceptions.

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The rate of Bitcoin (BTC) has risen by 0.54% over the last 24 hours.

BTC/USD chart by TradingView

On the hourly chart, the rate of Bitcoin (BTC) is returning to the recently formed support level at $28,373. If the seller pressure continues, the breakout may lead to a sharp drop to the $28,000 zone.

BTC/USD chart by TradingView

On the bigger time frame, the rate of Bitcoin (BTC) is unable to return to the resistance at $28,939. If the situation remains the same, there is a high chance to see a decline to the middle of the channel, to around the $27,500 area.

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Such a scenario is relevant until the end of the upcoming week.

BTC/USD chart by TradingView

From the midterm point of view, the price of BTC is trying to fix above the resistance at $28,474. If the bar closes with no wicks and closer to the $29,000 mark, one can expect a test of the important area of $30,000 shortly.

Bitcoin is trading at $28,445 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at