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Bitcoin (BTCUSD) Price is going up

Johnathon Fox
04/12/2023 | UPDATED ON: 04/12/2023

Bitcoin (BTCUSD) Price Forecast: April 12
The BTCUSD pair is currently trading in a strong bullish market; the bulls are in charge of the market at the present. The coin will rise further if the current support at $27790.21 holds. The crypto’s price may continue its upside moves to reach a $3000.00 upper high level, provided buyers increase their actions in the market.

Key Levels:
Resistance Levels: $22000.00, $23000.00, $24000.00
Support Levels: $20000.00, $19000.00, $18000.00

BTC (USD) Long-term Trend: Bullish (Daily Chart)
Upward pressure still dominates the BTCUSD pair in the higher time frame. The coin price is now strongly trading above the moving averages with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.
Bitcoin (BTCUSD) Price is going up
The bulls’ pressure to the $28547.67 during yesterday’s session has sustained the crypto’s price above the supply trend levels in its recent high.

The current price level now trades at the $29000.00 supply level above the two EMAs. An indication of upward momentum in the context of the strength of the market. Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the prices higher to hit the the$30000.00 resistance level.

Further, the pair is in an upward direction as indicated by the daily signal, the $30000.00 upper resistance level might be the target in its long-term perspective.

BTC (USD) Medium-term Trend: Bullish (4H Chart)
The buy traders are now actively involved in the order flow in its short-term outlook. This is a result of low bearish outcomes. This means that the BTCUSD market is in a strong bullish trend in its medium-term time frame.
Bitcoin (BTCUSD) Price is going up
Just after a few minutes of opening the 4-hourly chart, the bulls triggered up the momentum to the the$29311.02 resistance value above the moving averages. This will actually enable the pair to rise further.

If Bitcoin’s price sustains above the current resistance level, the resulting rally may surpass the $29100.00 level and hit the $30000.00 psychological level at the upside in the days ahead in the medium-term outlook.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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