Bitcoin Price Analysis | 4th April 2022

Over the weekend BTC was trading fairly range-bound with low volumes. The asset has seen profit booking from higher levels. However, it’s holding and sustaining strong at $46k. BTC dominance is 40.69% and market capitalization is $870bn. 

At the time of writing, BTC is trading at $46,090.

BITCOIN is trading in an uptrend after breaking the long-held resistance of $45,500 and making the high of $48,189. Post this move, BTC is consolidating and trading in a range from $45,500 to $47,500. A close above $48,300 can lead to a further rally and the prices can surge up to $52,500 whereas $45,500 and the 200 Day Moving average will act as strong support for the asset. A rising Moving Average and RSI above 50 indicate that the bulls have the upper hand.

Key Levels:

Support 2 Support 1 Asset Resistance 1 Resistance 2
$39,500 $45,500 BTC $52,500 $60,000

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum, etc are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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