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Bitcoin was extremely Bullish last week and now as the week approaches, the chart exhibits another Bitcoin Bullish Flag. Bitcoin has gained more than 8.5% since March 27 and the experts believe there’s still more to come.
The Bitcoin price today is $47,145.84 with a 24-hour trading volume of $28,214,261,602 USD. Bitcoin is down 0.36% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $895,719,404,971.
Bitcoin Bullish Flag:
On the hourly chart, Bitcoin price is ranging between EMA 20, making lower lows and lower highs. Bitcoin is not making any volatile moves since March 28, which leaves a question if Bitcoin can make it to $50,000 any time soon? The steady position of Bitcoin is giving alts a go to rise. Bitcoin has formed a Bitcoin Bullish Flag on the hourly chart as shown above in the Chart.
Also read: Ethereum Bull Run Starts Now
Bitcoin has strong resistance at the previous high of $48,300 and $48,600. The steady position of Bitcoin is giving alts a go to rise. As far support is concerned, Bitcoin might dwindle to $46,400, fib 0.236, as a part of reversal, and then rise back to resistance.
Where do you see Bitcoin going in April? Any wild guesses?