Bitcoin Price Prediction: Long-term (BTC) Value Forecast – April 20

Spread the love

BTC/USD Long-term Trend: Bullish
Resistance levels: $7,200, $7,400, $7,600
Support levels: $5,100, $4,900, $4,700
The BTC/USD pair is in a bullish trend zone but trading in a tight range. On April 2, the price of Bitcoin was in a price rally. On April 10, the BTC price reached a high of $5,488 but closed at a price of $5,310.10. Since on April 16, the BTC price now trades in a tight range between the levels of $5,000 and $5,300. The bulls have failed to break the $5,300 resistance level in the last two weeks. Also, the bulls also defended the $5,000 support level in the last two weeks. Since on April 2, the BTC price had been in a bullish trend, trading at $5,308.8 as at today. The BTC price is expected to break the $5,300 resistance level so that the crypto’s price will appreciate to the previous highs of $5,500 and $6,000. If the bulls fail to break the $5,300 resistance level, the crypto’s price will fall to resume its range bound movement.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.
The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.