Tanya Abrosimova
Independent Analyst
- BTC/USD stays marginally $4,000.
- Bitcoin may be volatile before the upside trend resumes.
Bitcoin (BTC) settled marginally above $4,000 handle for the first time since March 20. The first digital coin gained nearly 3% on Wednesday amid strong bullish momentum across the board. BTC/USD is changing hands at $4,006 at the time of writing.
However, cryptocurrency experts warn investors a trend cannot change overnight, which means that we might still experience downturns before the bullish trend sets in.
“We can’t go from [crypto] winter to summer in a few days, probably not even in a few weeks. Spring is generally a time of volatility where hot and cold often surprise us. Though bitcoin has yet to snap the bear market, I do believe that crypto winter is now over and we are entering spring,” Mati Greenspan, senior market analyst at eToro commented.
Looking technically, BTC/USD is moving within an upside channel clearly visible on the 4-hour chart. The next resistance is created by $4,030-50 area which includes Wednesday’s high. It is followed by an upper line of the above-said channel ($4,156) and February’s high at $4,186.
On the downside, the local support comes at $3,975 (SMA50 4-hour). Once it is cleared, the downside may be extended towards $3,950 with the ultimate barrier at $3,900 created by a confluence of SMA200 (4-hour) and the channel support.
BTC/USD, 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
US SEC may declare XRP a 'commodity' as Ripple settlement talks begins
The US Securities and Exchange Commission (SEC) is considering classifying XRP as a commodity in its ongoing settlement talks with Ripple Labs. The SEC is considering classifying XRP as a commodity in its ongoing settlement talks with Ripple Labs.
Ethereum developers delay Pectra mainnet launch with new testnet Hoodi
Ethereum developers announced on Thursday that they will launch a new testnet, "Hoodi," to enable validators and infrastructure providers to adequately test the upcoming Pectra upgrade before mainnet deployment, according to Tim Beiko, who runs Ethereum's core protocol meetings.
Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.
Stablecoin regulatory bill receives green light during Banking Committee hearing
The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.
Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?
Bitcoin price extends its decline on Friday, falling over 5% so far this week. BTC uncertainty and volatility spikes liquidated $1.67 billion as the first-ever White House Crypto Summit takes place on Friday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.