Bitcoin Price Prediction: BTC/USD Slows Down Below $55,000; Price Prepares to Retrace

Bitcoin (BTC) Price Prediction – April 28

The Bitcoin price is poised for a retreat to the next support at $54,000 before making another breakout.

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

Key levels:

Resistance Levels: $60,000, $65,000, $70,000

Support Levels: $50,000, $45,000, $40,000

BTCUSD – Daily Chart

BTC/USD is slightly down today after struggling to hold above the critical level of $53,000. This comes following a few bullish days as the first digital asset rebounded from a two-week downtrend, hitting as low as $47,000 on the daily chart. Earlier today, the Bitcoin price is seen trading above the $55,700 level but quickly reversed back down below the next major resistance level at the $54,904 level.

Where is BTC Price Going Next?

The Bitcoin price remains above $54,950 even as bulls seek more support within the 9-day and 21-day moving averages. Looking at the technical indicator RSI (14), BTC/USD is still in the hands of the bulls. However, a minor retreat made by the RSI (14) is making an attempt to trade below 47-level suggesting that exhaustion is slowly engulfing the bullish tent and whatever direction it chooses would determine the next level for the king coin.

Nevertheless, if BTC/USD delays the run-up to $56,000, sellers could eventually gain traction, sending the price back to $53,000 support. Meanwhile, if the support at $51,000 is shattered, BTC/USD may be forced to seek refuge in the next key supports at $50,000, $45,000, and $40,000. On the other hand, any bullish movement above the moving averages could hit the potential resistance levels at $60,000, $65,000, and $70,000 respectively.

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

On the 4-Hour chart, the Bitcoin price is trading around the 9-day moving average at the $54,966 level. However, the market price may likely fall below $54,000 if the bears fully stepped back into the market.

BTCUSD – 4 Hour Chart

However, a further bearish movement could test the critical support at the $52,000 level and below while the resistance is located above the upper boundary of the channel at $58,000 and above. Technically, Bitcoin is currently following a sideways movement as the technical indicator RSI (14) moves below 60-level.

You have not selected any currencies to display

Subscribe To The Latest Crypto News

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

World Wide Crypto will use the information you provide on this form to be in touch with you and to provide updates and marketing.