Bitcoin Price Prediction for Today, April 10 – BTC Technical Analysis

adminApril 11, 2024

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Bitcoin price prediction shows that BTC could break out of its current short-term pattern and move towards the $70,000 level.

Bitcoin halving event is approaching

Bitcoin (BTC) is showing signs of a rebound as it approaches its mid-March highs, with the much-awaited April halving just around the corner. This halving event, which marks the second major trend that will drive Bitcoin’s rise in 2024, comes hot on the heels of the January debut of the Bitcoin Spot Price ETF.

Bitcoin prediction statistical data:

Current Bitcoin Price – $69,777
Bitcoin market capitalization – $1.3 trillion
Bitcoin circulating supply – 19.6 million
Bitcoin total supply – 19.6 million
Bitcoin CoinMarketCap Ranking – 1st

BTC/USD Long-Term Trend: Bullish (Daily Chart)

Main level:

Resistance levels: $81,000, $83,000, $85,000

Support levels: $60,000, $58,000, $56,000

Bitcoin Price Prediction for Today, April 10 – BTC Technical Analysis — BTCUSD – daily chart

BTC/USD is currently trading at $69,777, up 0.81% since the start of trading. If the bull market increases buying pressure, Bitcoin price could head towards the upper limit of the channel. Moreover, if BTC/USD holds above its 9- and 21-day moving averages, many traders may feel that the $67,000 support level could be quite strong.

Bitcoin Price Prediction: Will BTC Price Go Higher?

Today’s trading may not cause the price of Bitcoin to fall significantly, but if the digital coin first falls below the support level of $67,000, the coin’s direction may change towards the lower limit of the channel. Alternatively, Bitcoin (BTC) could regain its previous resistance level of $70,000 and head higher. If successful, BTC/USD could target resistance levels of $81,000, $83,000, and $85,000, respectively.

Nonetheless, the 9-day moving average may need to remain above the 21-day moving average as the coin consolidates near this level. Nonetheless, if the king coin slides below the lower boundary of the channel, this could mean there may still be room for the bears to explore. Therefore, support levels of $60,000, $58,000, and $56,000 may apply.

BTC/USD medium-term trend: Bullish (4H chart)

From a technical perspective, Bitcoin price could surge above the 21-day MA on the 4-hours chart, confirming a bullish move if it hits the nearest resistance level at $72,000. Meanwhile, in addition to the above, there is a slight bullish divergence as the coin continues its bullish move above its 9-day moving average.

However, if Bitcoin price reaches the channel lower limit, the market price may find support below $66,500. Meanwhile, if the current market value rises and breaks above the channel upper limit, Bitcoin price could reach potential resistance levels above $73,500.

Meanwhile, @TXWestCapital shared with his 37.1k followers on Are you rattled by your position?

#Bitcoin It has risen to ~$2600 so far from this morning’s lows suggested after the CPI data was released. Are you shaken? $BTC pic.twitter.com/iu73XCbZiL
— Christopher Ink (@TXWestCapital) April 10, 2024

Bitcoin Alternatives

Buyers pushing the Bitcoin price above $70,000 could indicate an upward trend, while a drop below $67,000 could indicate a bear market within the channel. However, despite Bitcoin’s market capitalization of $1.3 trillion, it may not offer as much growth potential as the newly introduced DOGEVERSE token. DOGEVERSE has already amassed over $1.3 million in its ongoing pre-sale phase, making it a potentially more attractive investment option for investors looking for promising opportunities.

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