Bitcoin analysis for April 1, 2021
following the chart on the four-hour time frame, we see that Bitcoin is currently facing resistance at $ 60,000 prices. We currently have support for moving averages MA20 and EMA20. Still, it looks like Bitcoin is tired, and we can expect a potential pullback to lower moving averages MA200 and EMA200 in the $ 54000-56000 zone where we are looking for better support. For the bullish option, we need a break above $ 60,000, and we can look at this as part of the consolidation before the next pulse.
Looking at the chart on the daily time frame, Bitcoin is moving sideways; yesterday, the movement was straight with no major oscillations. Moving averages are still on the bullish side. The break below them will give us a different picture of a possible change in trend, and for now, we are still on the bullish side.
There are no hints of a bear tradition returning to the bitcoin markets this year because, in 2021, it breaks the trend of March to bring serious negative consequences. Will K2 meet expectations? Bitcoin (BTC) has recorded its most successful K1 in the last eight years because the March ideas failed to materialize for holders.
The data published by the analytical resource Bibt after the end of Q1 2021 show that BTC / USD earned more in the first three months of this year than in 2013. The forecast for the next few months is already under construction. K2 is traditionally the strongest time of the year for Bitcoin, with only two years of negative yield, both less than 10%. The goal to be won is from 2019, which brought 159% of the profit and is the best K2 since 2013.
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