How is Bitcoin (BTC) Looking Today?
Bitcoin is currently trading around the $29,800 mark and is looking quite bullish on the lower timeframes. The price has been pumping for the past couple of days and BTC is trying to continue the uptrend it has been respecting since the beginning of the year. Previously, we did see Bitcoin reject the $30K region but after a tiny correction, the price has bounced back from the $27,000 mark and is again looking bullish. The next few days will be crucial for BTC as we will get to see how the price will react to the $30K zone this time. Let’s take a quick look at the latest Bitcoin Price Prediction Daily (26-Apr-2023) to see where the price could be headed next in the coming days.
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Analyzing the Charts
If we take a look at the latest 1-hour charts for Bitcoin, the first thing we can notice is that Bitcoin bounced nicely from the $27,000 mark and also managed to break the immediate resistance at $28,700.
The resistance level we would like Bitcoin to break above in the short term is the $30,500 mark. It is the area where Bitcoin previously faced rejection and breaking above it could be a strong bullish sign for the crypto giant.
Once the price does break above this mark, we will be longing Bitcoin towards the $32,000 mark. The $32K region is an interesting area because Bitcoin used it as support a couple of times during the beginning of the recent bear market.
It is highly likely that the price will continue to move above $32,000 if BTC manages to flip the resistance at $30,500 into support in the immediate short term.
Conclusion: What is Next for Bitcoin (BTC)?
Bitcoin is currently trading just below $30,000 and is looking quite bullish on the lower timeframes. The price has been climbing rapidly since BTC retests $27,000 and it is likely that we will see a continuation of this run. Right now, we are waiting for the price to get above $30,500 and then we will be interested in making our move. Rejection is also still on the cards but is looking less likely at the moment.
How to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.