Bitcoin (BTC) Price Prediction for April 2
Bitcoin (BTC) has risen by 0.22% recently and is aiming for a resistance level of $85,235. If upward pressure continues, a test of $86,000 may occur. Traders should observe candle closures for indications of longer-term trends, while low trading volumes suggest limited volatility shortly.
As of April 2, Bitcoin (BTC) has experienced a slight price increase of 0.22% over the previous day, suggesting mild bullish momentum despite an ongoing bearish trend in the broader market. According to CoinStats, the BTC/USD pair is currently positioned to challenge the local resistance level of $85,235. If buying pressure persists, it is feasible for Bitcoin to test the $86,000 mark.
In examining the broader market trends, one must pay close attention to the candle’s closure concerning the peak of the previous bar. Should this closure occur around $86,000, it may indicate the potential for a sustained upward movement, leading toward the $88,000-$90,000 range.
From a midterm perspective, Bitcoin continues to accumulate energy, with current trading volume remaining low. This suggests that traders should not anticipate significant market fluctuations in the immediate future. As of now, Bitcoin is trading at $85,325.
In summary, Bitcoin is currently exhibiting mild bullish momentum, with the price showing potential to test $86,000 if buying pressure continues. Long-term traders should monitor the candle closures, as this may signify further upward movement. Despite low trading volumes indicating stability, sharp market fluctuations are not expected in the near term.
Original Source: u.today
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