BTC Price Resumes Its Ascent as It Approaches the $29K Mark

Bitcoin Maintains Its Range as It Approaches the $29K Mark – April 4, 2023

The price of Bitcoin (BTC) has risen again after falling to a low of $27,213 as it approaches the $29K mark. The largest cryptocurrency asset’s price had previously fluctuated between $26,500 and $28,500. Neither the bulls nor the bears have broken the range-bound levels. Multiple times, buyers have attempted unsuccessfully to overcome the $29,000 resistance.

Bitcoin Price Statistics Data:•Bitcoin price now – $28,732.76•Bitcoin market cap – $554,428,599,455•Bitcoin circulating supply – 19,337,462 BTC•Bitcoin total supply – $601,613,926,523•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

On April 3, BTC’s price dropped to a low of $27,213 as bulls bought the dips. The cryptocurrency will occasionally surpass the $28,000 resistance and retest the $28,500 or $29,000 price levels. This has been the price movement since March 18. As Bitcoin remains in the bullish trend zone, buyers have been in the lead over sellers. BTC is currently trading above the 21-day SMA as bulls take control of the market. Buyers will work to keep the price above the $29,000 overhead resistance.

The price of Bitcoin will rise to the psychological level of $30,000 if buyers are successful. The bullish momentum will take it to the $31,000 high. If the bears are trying to stop the bullish scenario, however, the bearish momentum will carry on and break below the 21-day SMA. As a result, there will be more selling pressure until it falls to a low of $25,200. The downtrend will resume if the price drops below the $25,000 support level. The price of Bitcoin is currently at level 60 of the 14-period Relative Strength Index. Bitcoin has room to rise even higher.

An Analyst Describes Bitcoin as “Untouchable” in the Face of Regulatory Pressure

According to senior commodity strategist Mike McGlone, Bitcoin is “untouchable” because it is more decentralized than other cryptocurrencies in the space, such as Ether. Despite ongoing regulatory pressures on the cryptocurrency industry, Bitcoin (BTC) is “untouchable,” and according to Bloomberg Senior Commodity Strategist Mike McGlone, those who don’t have some exposure to the cryptocurrency market are “seriously silly. “McGlone argued that, unlike other cryptocurrencies like Ether, in a stream with crypto podcaster Scott Melker on April 3. Because Bitcoin is more decentralized than other currencies, regulators couldn’t banish it.

Meanwhile, Bitcoin has steadily risen as it approaches the $29K mark. Buyers are aiming to revisit the overhead resistance at $29,000 as soon as possible. Sadly, the price of Bitcoin is getting closer to the market’s overbought zone. This will affect the cryptocurrency asset’s upward price trend. However, in a strongly trending market, the overbought condition may not last.

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Bitcoin has resumed its ascent to test or surpass the $29,000 overhead resistance. On March 30, the bulls broke through the resistance level, but they were unable to keep up their bullish momentum. If buyers are successful today, the upward momentum could resume. It is anticipated that the price of BTC will rise above the psychological threshold of $30,000. LHINU tokens and other cryptocurrencies have grown since the most recent bull market. The new LHINU tokens have fantastic returns on investment. Searching for the ideal MemeCoin that will bring you both laughs and use? LHINU is the only place to go. It is the most valuable VoteToEarn coin in the Meme universe. Join the Presale to join the LoveHateInu gang right away. Stage 4 of our Presale has just begun. That is cause for celebration! Join us now if you haven’t already. Already, close to $3.5 million has been collected.

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