Bitcoin Price Prediction for April 6: Assessment and Outlook
Bitcoin (BTC) has dropped by 0.45% in the last 24 hours, currently trading at $83,070. The price is near a support level of $83,000, with potential corrections expected towards $82,500 and further tests of $80,000. A bearish signal from the weekly candle also suggests caution for traders.
As of recent reports, Bitcoin’s (BTC) price experienced a decline of 0.45% over the preceding 24 hours. Presently, the cryptocurrency is hovering around the established support level of $83,000. Given that most of the daily Average True Range (ATR) has yet to be utilized, traders should prepare for a potential downward adjustment toward the $82,500 range by the following day.
On a broader time frame, Bitcoin has not shown any reversal signals. Should the candlestick close at current levels or lower, there exists a likelihood of testing the $80,000-$81,000 range in the upcoming days. The weekly candle is nearing closure with a long wick, indicating a bearish trend; thus, it would be prudent to concentrate on the interim area around $80,000.
In the event of a breakout, the gathered momentum could propel Bitcoin toward the $78,000 mark. As of the latest update, Bitcoin’s trading price is recorded at $83,070.
In summary, Bitcoin’s price prediction for April 6 highlights a recent decline and suggests the possibility of further corrections. Traders are encouraged to monitor key support levels and potential price movements in the near term. There remains a focus on the $80,000 area as a critical zone for future price action.
Original Source: u.today
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