Bitcoin Price Prediction for Today, April 10 – BTC Technical Analysis

The
Bitcoin
price
prediction
reveals
that
BTC
may
break
out
of
the
current
short-term
pattern
and
move
toward
the
$70,000
level.

Bitcoin
Halving
Event
Draws
Near

The
Bitcoin
(BTC)
is
on
the
rebound,
edging
closer
to
its
mid-March
record
high,
all
amidst
the
eagerly
awaited
April
halving
event,
just
around
the
corner.
Marking
the
second
major
trend
poised
to
drive
Bitcoin’s
ascent
in
2024,
this
halving
event
comes
hot
on
the
heels
of
the
January
debut
of
Bitcoin
spot
price
ETFs.

Bitcoin
Prediction
Statistics
Data:

• Bitcoin
  price
  now
  –
  $69,777
• Bitcoin
  market
  cap
  –
  $1.3
  trillion
• Bitcoin
  circulating
  supply
  –
  19.6
  million
• Bitcoin
  total
  supply
  –
  19.6
  million
• Bitcoin
  Coinmarketcap
  ranking
  –
  #1

BTC/USD
Long-term
Trend:
Bullish
(Daily
Chart)

Key
levels:

Resistance
Levels:
$81,000,
$83,000,
$85,000

Support
Levels:
$60,000,
$58,000,
$56,000

BTC/USD
is
currently
trading
at
$69,777
with
a
0.81%
gain
since
the
beginning
of
today’s
trading.
The
Bitcoin
price
may
head
toward
the
upper
boundary
of
the
channel
if
the
bulls
increase
the
buying
pressure.
Moreover,
for
BTC/USD
to
remain
above
the
9-day
and
21-day
moving
averages,
it
could
make
many
traders
feel
that
the
$67,000
support
level
could
be
pretty
strong.

Bitcoin
Price
Prediction:
Would
BTC
Price
Break
Higher

The
Bitcoin
price
could
not
drop
much
cause
of
today’s
trading,
but
if
the
first
digital
coin
breaks
below
the
support
level
of
$67,000,
it
could
change
the
coin’s
direction
to
face
the
channel’s
lower
boundary.
Alternatively,
Bitcoin
(BTC)
may
reclaim
the
previous
resistance
level
of
$70,000
to
head
to
the
upside.
If
successful,
BTC/USD
could
aim
at
the
resistance
levels
of
$81,000,
$83,000,
and
$85,000
respectively.

Nevertheless,
the
9-day
moving
average
may
need
to
stay
above
the
21-day
moving
average
as
the
coin
consolidates
around
this
level.
Nevertheless,
if
the
king
coin
slides
below
the
lower
boundary
of
the
channel,
this
could
mean
that
there
may
still
be
a
room
that
the
bears
could
explore.
Therefore,
the
support
levels
of
$60,000,
$58,000,
and
$56,000
may
play
out.

BTC/USD
Medium-term
Trend:
Bullish
(4H
Chart)

From
a
technical
point
of
view,
on
the
4-hour
chart,
the

Bitcoin
price
may
spike
above
the
21-day
MA,
this
may
confirm
the
bullish
movement
if
it
touches
the
nearest
resistance
level
of
$72,000.
Meanwhile,
adding
to
the
above,
there
is
a
little
bit
of
bullish
divergence
as
the
coin
crosses
above
the
9-day
moving
average
to
continue
the
bullish
movement.

However,
if
the
Bitcoin
price
faces
the
lower
boundary
of
the
channel,
the
market
price
could
reach
support
at
$66,500
and
below.
Meanwhile,
if
the
current
market
value
rises
and
crosses
above
the
upper
boundary
of
the
channel,
the
Bitcoin
price
could
hit
the
potential
resistance
level
of
$73,500
and
above.

In
the
meantime,
@TXWestCapital
shared
with
his
37.1k
followers
on
X
(formerly
Twitter)
that
#Bitcoin
has
surged
approximately
$2600
from
this
morning’s
swing
low,
which
occurred
after
the
CPI
data
release.
Were
you
rattled
out
of
your
position?

#Bitcoin
has
rallied
~$2600
so
far
off
this
morning’s
swing
low
which
was
put
in
after
the
CPI
data
was
released.
Did
you
get
shaken
out?

$BTC

pic.twitter.com/iu73XCbZiL

—
Christopher
Inks
(@TXWestCapital)

April
10,
2024

Bitcoin
Alternatives

Should
buyers
drive
the
Bitcoin
price
beyond
$70,000,
it
might
indicate
an
upward
trend,
whereas
a
decline
below
$67,000
could
suggest
a
bearish
market
within
the
channel.
However,
despite
Bitcoin’s
top-ranked
market
cap
of
$1.3
trillion,
it
might
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