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Bitcoin (BTC) Price Prediction for April 11

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Thu, 11/04/2024 - 15:43
Bitcoin (BTC) Price Prediction for April 11
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Bulls are back in the game, according to CoinMarketCap.

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Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 3.32% over the last 24 hours.

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Image by TradingView

Despite today's growth, the price of BTC is looking bearish on the hourly chart as the rate is trading near the local support of $69,921. If the bounce back does not happen by the end of the day, the breakout may lead to a fall to the $69,000 area.

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Image by TradingView

On the bigger time frame, the picture is neutral as neither bulls nor bears have seized the initiative yet. Thus, the volume has dropped, which means that BTC needs more time to accumulate energy for a further move. 

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All in all, sideways trading in the area of $69,000-$72,000 is the more likely scenario for the next few days.

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Image by TradingView

A similar situation can be seen on the weekly chart. None of the sides is dominating at the moment, confirming ongoing consolidation in the range of $64,000-$72,000 until the end of the month.

Bitcoin is trading at $69,878 at press time.

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