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Bitcoin (BTC) Price Analysis for April 5

Wed, 04/05/2023 - 16:20
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Denys Serhiichuk
Is further rise of Bitcoin (BTC) possible from current levels?
Bitcoin (BTC) Price Analysis for April 5
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Buyers could not hold the initiative until the end of the day, and most of the coins are in the red zone.

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has declined by 0.23% over the last 24 hours.

BTC/USD chart by TradingView

Despite the slight fall, there are good chances to see a continued drop as the rate has broken the local support level at $28,114. In this case, the decline may lead to the test of the $27,600 zone shortly.

BTC/USD chart by TradingView

Almost nothing has changed on the daily chart from the technical point of view as neither bulls nor bears have seize the initiative. If buyers lose the $27,000 zone, the accumulated energy is supposed to be enough for the breakout of the support at $26,707.

DOGE Price Analysis for April 4

All in all, the rate may get to the $26,000 area until mid-April.

BTC/USD chart by TradingView

On the weekly time frame, it is too early to make any predictions as the price is trading in the middle of a wide channel. Respectively, ongoing sideways trading in the range of $27,500-$28,500 is the more likely scenario.

Bitcoin is trading at $28,000 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