Bitcoin Cryptocurrency Forecast
Bitcoin cryptocurrency price up 0.0885% on Thursday
(Updated on Apr 25, 2024)
The Bitcoin cryptocurrency price gained 0.0885% on the last trading day (Thursday, 25th Apr 2024), rising from $63,787.55 to $63,844.00. During the last trading day the cryptocurrency fluctuated 5.23% from a day low at $63,736.70 to a day high of $67,070.43. The price has fallen in 6 of the last 10 days and is down by -0.44% for this period. Volume fell on the last day by -27 billion shares and in total, 2 billion shares were bought and sold for approximately $118.56 trillion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the cryptocurrency is expected to rise 48.13% during the next 3 months and, with a 90% probability hold a price between $94,571.29 and $128,746.61 at the end of this 3-month period.
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BTCUSD Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bitcoin cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $64,905.24 and $67,171.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -13.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bitcoin cryptocurrency
Bitcoin finds support from accumulated volume at $62,977.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $3,333.73 between high and low, or 5.23%. For the last week, the cryptocurrency has had daily average volatility of 4.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BTCUSD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Bitcoin / US Dollar to open at $64,883.71, and during the day (based on 14 day Average True Range), to move between $60,474.43 and $67,213.57, which gives a possible trading interval of +/-$3,369.57 (+/-5.28%) up or down from last closing price. If Bitcoin / US Dollar takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $64,023.94 (0.28%) than the support at $62,977.82 (1.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bitcoin / US Dollar cryptocurrency A Buy?
The Bitcoin cryptocurrency holds several negative signals and despite the positive trend, we believe Bitcoin will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -3.897 Sell Candidate Unchanged
Predicted Opening Price for Bitcoin / US Dollar of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $64,883.71 ( 1.63%) | $63,844.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTCUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68,217.44 | 6.85 % | |
| R2 | 66,943.96 | 4.86 % | ||
| R1 | 66,157.19 | 3.62 % | ||
| Current price: | 63,844.00 | |||
| Support | S1 | 63,610.23 | -0.366 % | |
| S2 | 62,823.46 | -1.60 % | ||
| S3 | 61,549.98 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68,572.98 | 7.41 % | |
| R2 | 67,151.00 | 5.18 % | ||
| R1 | 64,023.94 | 0.282 % | ||
| Current price | 63,844.00 | |||
| Support | S1 | 62,977.82 | -1.36% | |
| S2 | 62,904.90 | -1.47% | ||
| S3 | 60,349.00 | -5.47% |
FAQ
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