Main navigation

Bitcoin (BTC) Price Analysis for April 3

Sun, 04/03/2022 - 15:20
article image
Denys Serhiichuk
Can bulls hold the $45,000 mark?
Bitcoin (BTC) Price Analysis for April 3
Cover image via www.tradingview.com

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.

Read U.TODAY on
Google News

Bulls are losing power at the end of the week, according to the price change over the last 24 hours.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Even though the rate of Bitcoin (BTC) has declined by 0.85% since yesterday, the rise over the last week has made up 4.37%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) is trading in the middle of the local channel between the support at $45,650 and the resistance at $46,953. The buying volume has blasted, which confirms buyers' energy. If the rise continues, BTC may reach $47,000 by the end of the day.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily time frame, Bitcoin (BTC) has bounced off the support level at $44,776, which means that bulls remain more powerful than bears.

Related
BTC, ETH and SOL Price Analysis for April 1

If the price can hold in the range of $46,000-$47,000 by the end of the week, the growth may lead to the zone of $48,000 shortly.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

From the mid-term scenario, BTC remains bullish as bulls have fixed above the $45,000 mark. Now, the growth may slowly continue to $50,000 as the power has accumulated enough for further growth. However, a few weeks may pass until buyers come back to the nearest resistance at $52,000.

Bitcoin is trading at $46,451 at press time.

article image
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 denys.serhiichuk@u.today.