Bitcoin Price Prediction for Today, April 30: BTC May Face Fresh Support At $38,000

Share This Post





The Bitcoin price prediction shows that BTC may slide towards the downside as the cryptocurrency heads to the south.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $44,000, $46,000, $48,000

Support Levels: $35,000, $33,000, $31,000

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is likely to drop today as the cryptocurrency may fall beneath the $38,500 support level to reach the daily low at $38,000. However, the daily chart reveals that $38,500 is a very important level as it is expected to provide strong support for the coin.

Bitcoin Price Prediction: Bitcoin Price May Cross Below $38,000

The Bitcoin price remains below the 9-day and 21-day moving averages as the coin may cross below the lower boundary of the channel. A breakdown below this barrier may cause the Bitcoin price to create a new low. However, the king coin is currently in a critical position with the next few days dictating the direction that it will head. A drop to the south could be detrimental to Bitcoin as it could lead the coin towards the supports at $35,000, $33,000, and $31,000.

Moreover, if the buyers can rebound from the current level of $38,652, the first level of resistance could lie at $39,000. Above this, further resistance is expected at $40,000. This may likely follow by the potential resistance levels at $44,000, $46,000, and $48,000. Therefore, if the coin can break above these levels, the market may be on the verge of turning bullish in the long term. Presently, the Relative Strength Index (14) is likely to cross below 40-level, indicating that more bearish signals might come to play.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

According to the 4-hour chart, the Bitcoin price is hovering at $38,678 as the coin is likely to cross above the 9-day and 21-day moving averages. However, if the bulls decide to push the market price to the upside, the coin may likely hit the resistance at $40,000 and above.

BTCUSD – 4 Hour Chart

Nevertheless, it now appears that the cryptocurrency is at risk of seeing further downside as the 9-day MA crosses below the 21-day MA and this seems to indicate that bears are building momentum. As the Relative Strength Index (14) moves above the 40-level, the king coin may locate the critical support at $37,500 and below.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Weekly Roundup (19th Oct 2024): XRP SEC Appeal, Tesla’s Bitcoin Move, and More

The post Crypto Weekly Roundup (19th Oct 2024): XRP SEC Appeal, Tesla’s Bitcoin Move, and More appeared first on Coinpedia Fintech News Cryptocurrency Market Overview: The global cryptocurrency

Crypto ATMs Coming to 45 New Locations Across Five US States

Cryptocurrency is becoming more accessible across the US with the expansion of digital currency kiosks to 45 new locations in the Southwest and Midwest Yesway, a fast-growing convenience store chain,

Litecoin Jumps 11%: Here’s What’s Driving This Rally

On-chain data suggests developments in these two Litecoin indicators could explain why the cryptocurrency has seen its latest price surge Litecoin Volume & Social Dominance Have Surged Recently

Ripple (XRP) Price Prediction: What Does the Future Hold as XRP Sits 86% Below Its Record High?

The post Ripple (XRP) Price Prediction: What Does the Future Hold as XRP Sits 86% Below Its Record High appeared first on Coinpedia Fintech News Launched in 2012, Ripple’s native token, XRP, has

Bitcoin Analyst Moves Into WallitIQ, Says He’s Convinced WLTQ Will Outperform Ethereum And Solana

The post Bitcoin Analyst Moves Into WallitIQ, Says He’s Convinced WLTQ Will Outperform Ethereum And Solana appeared first on Coinpedia Fintech News A prominent Bitcoin analyst has boldly turned to

Analyst Backs Spot Bitcoin ETFs To Surpass Gold ETFs In Cumulative Net Inflows

Market analyst and President of the ETF Store Nate Geraci has backed the US-based spot Bitcoin ETFs to overtake the Gold ETFs in terms of cumulative net flows This projection comes amidst a