Bitcoin analysis for April 2, 2021
Looking at the chart on the four-hour time frame and comparing it to yesterday, we are not far behind, and we are still in this upward consolidation that is testing a zone of around $ 60,000 for Bitcoin. We still have good support for all moving averages from below, the break has been confirmed outside the falling channel, and we can only expect the Bitcoin price to continue to rise, likely above the previous high of $ 61758. If we look at the MACD indicator, we see that the blue line is below the signal line but is slowly returning above, supporting continuing the bullish trend. If we fail, we will return to the zone around $ 55000-56000.
On the daily time frame, we are still in a strong bullish trend supported by moving averages and current resistance at $ 60,000, but we will likely see a break above that resistance zone, and our potential targets are $ 62,000 $ 64,000 for Bitcoin. If we look at the MACD indicator, we will see that the MACD blue line has crossed the signal line and gives us support for this bullish trend.
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