Bitcoin breaks above $41K as conditions slightly turn bullish

Bitcoin price analysis for April 14, 2022, confirms that the token has turned bullish following a huge surge in buying pressure. Moreover, the token is once again above the $40K price region and investors can expect that in the coming days, BTC might break above the $45K region as well if buying pressure remains high. As noted in our BTC price analysis for April 13, 2022, the world’s biggest cryptocurrency has formed strong support at $39K. Prices might once again rebound after touching $41K.   

The data from CoinMarketCap shows that the trading volume of the token dropped 7.91% in the last 24 hours, followed by a 3.33% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.03535, while the Market Dominance has surged to 40.93%. 

The daily candle for the token opened at a price of $41.1K and reached a daily high of $41.5K. On the other hand, the daily low for Bitcoin stands at a price of $41K. The price of 1 Bitcoin at the time of writing is $41.3K. 

Bitcoin price analysis for April 14 on the daily chart

Bitcoin price analysis for April 14 will take into account the data from the daily chart below which has major indicators integrated into it.

Source: TradingView

The RSI indicator reads a value below 44 which means that bears are currently in charge of the price action and the gradient of the line suggests that higher prices might be possible. 

The MACD indicator shows that the MACD line and the signal line are moving further apart and the histogram shows that bears are currently in control of the price action. 

The price action for Bitcoin is situated in the lower end of the Bollinger Bands hinting that a bearish breakout might be witnessed for Bitcoin. 

Conclusion

Bitcoin price analysis for April 14, 2022, ends on a bearish note for the token as chances of losing the $41K price reason seem considerable.