Bitcoin price (BTCUSD) forecast update - 29-04-2024

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