Bitcoin price analysis for April 4, 2022, comes on a slightly bearish note for the world’s biggest cryptocurrency as BTC hasn’t been able to push into the $48K price zone in the last 24 hours. Retaining the $47K price level is an important event for the token but it continues to retrace the $45K price levels. We saw in our BTC price analysis for April 1, 2022, that $45K seems a very major price region for the current bullish run of BTC.
The data from CoinMarketCap shows that the trading volume of the token dropped 4.61% in the last 24 hours, followed by a 0.03% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.0305, while the Market Dominance has dropped to 40.67%.
The daily candle for the token opened at a price of $46.40K and reached a daily high of $46.46K. On the other hand, the daily low for Bitcoin stands at a price of $45.7K. The price of 1 Bitcoin at the time of writing is $46K.
Bitcoin price analysis for April 4 on the daily chart
Bitcoin price analysis for April 4 will take into account the data from the chart below which includes 3 indicators on the daily chart below.
Source: TradingView
The RSI indicator reads a value of 60 which means that the bulls are in charge and the gradient of the line suggests that lower prices are possible in the near future.
The MACD indicator for Bitcoin shows that the MACD line and the signal line are very close to each other as chances of a bearish divergence seem quite high for the token.
The price action for Bitcoin is situated in the upper end of the Bollinger Bands which means that the buyers are still in control of the market.
Conclusion
Bitcoin price analysis for April 4, 2022, ends on a slightly bearish note for BTC as chances of losing $45K seem considerable.
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