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Bitcoin (BTC) Price Analysis for April 23

Sun, 04/23/2023 - 13:07
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Denys Serhiichuk
How long will correction of Bitcoin (BTC) last?
Bitcoin (BTC) Price Analysis for April 23
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Buyers are not giving up so easily, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap


The price of Bitcoin (BTC) has increased by 1.19% over the last day.

BTC/USD chart by TradingView

On the hourly chart, the price is trading in the middle of the narrow channel between the support at $27,491 and the resistance at $27,757.

Bitcoin (BTC) Price Analysis for April 21

If closure happens near the $27,700 mark or above, the breakout may lead to a blast to the $27,900-$28,000 area tomorrow.

BTC/USD chart by TradingView

The rate of Bitcoin (BTC) has reached the zone of interest of buyers ($27,000-$28,000). If sellers' pressure continues and the bar closes near the support at $26,688, there is a chance to see a further drop to the $26,000 area next week.

BTC/USD chart by TradingView

A similar situation is on the weekly time frame. However, if a breakout happens, the drop can be more profound and lead to a decline to the $24,500-$25,000 zone. Such a scenario is relevant until mid-May.

Bitcoin is trading at $27,713 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