Bitcoin price (BTCUSD) forecast update - 29-04-2024
Economies.com
2024-04-29 09:54AM UTC
Bitcoin Price Analysis
Key Points:
- Bitcoin price (BTCUSD) indicates a bearish bias towards the awaited target at $60252.85, representing the 38.2% Fibonacci correction level.
- The bearish sentiment is reinforced by the negative pressure from the EMA50 indicator.
- It is crucial for the price to remain below $65391.75 to sustain the anticipated decline.
- Any breach above $65391.75 may signal a cessation of the current bearish correction and a potential return to the main bullish trend.
Expected Trading Range:
The anticipated trading range for today is between $60000.00 (support) and $64000.00 (resistance).
Trend Forecast:
Bearish
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