This website uses cookies to ensure you get the best experience on our website

Technical Analysis for BTCUSD for 1st April 2022

Bitcoin Drops 7% in a Possible Retest to February 2022 highs

Past Performance of BTC

The Bitcoin price is down seven percent from March 2022 highs following a sharp break above February 2022 highs. Despite losses, buyers appear to be in control but subject to whether there will be confirmation of March 31 losses today. A rebounce from around $42.5k to $43.5k would complete a retest, swinging back price action in favor of buyers.

Bitcoin Technical Analysis

Bitcoin is bullish from a top-down preview. However, in the immediate term, sellers appear to be taking over in a possible retest especially if BTC finds support at around the $42.5k and $43k zone. A rebound completes a retest and might be the basis for another leg up towards $50k--or better in the days ahead. On the reverse side, further losses would provide an opportunity for aggressive sellers to unload on pullbacks with targets at $40k as the bullish breakout of late March proves to be a bull trap.

What to Expect of BTC

Despite confidence, buyers appear exhausted. At spot rates, BTC is recoiling from March 2022 highs in a move, depending on recovery, could shape the price trajectory in April 2022.

Resistance level to watch: $48.5k

Support level to watch: $42.5k

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020