BTC price forecast for April 1, 2022

The first cryptocurrency could not hold on to the highs reached this week. The $48k resistance level put a lot of pressure on bull traders. The price of bitcoin fell to $45.68 thousand according to CoinMarketCap.

The reason for the fall is the overbought cryptocurrency. We wrote about the possibility of this a few days earlier, as the RSI indicator was in the negative zone. Currently, the level of support for bitcoin is the level of $43 thousand, which, according to analysts, will not allow it to fall lower.

At the time of publication, the cryptocurrency is trading at $45.94 thousand. In less than 5 hours, bitcoin lost almost $1.5 thousand. The RSI indicator on the daily chart is still decreasing, which makes it possible to talk about a further round of prices.

 

 

However, on the weekly chart, this indicator is in the neutral zone, which indicates possible purchases if the price goes down. This will support the cryptocurrency and prevent it from falling below $43,000.

The main task for bull traders at the moment is to support the price above 45K in order to break to $50.96K.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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