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Bitcoin price analysis (BTC) 04/27/2020


Good start to the week for Bitcoin so far we see it above $ 7,660 after accumulating above $ 7,450 from April 23 to April 26. Undoubtedly R1 was going to be a very important price point over the weekend and represented the red line between a correction to $ 7000 or the continuation of the uptrend.

It seems that bitcoin wants to break $ 7800 in the coming days and a good entry point would be in this break above $ 7,784. Although the RSI is in the overbought zone, it can still give another boost that breaks the aforementioned resistances to begin a small technical correction.

The next major resistance from the weekly pivot points is a little bit off around $ 8040, perhaps this may be the next boost before seeing a slightly more pronounced correction in BTC. On the other hand, important support this week we have the pivot point at $ 7400 along with the consolidation level of the weekend at $ 7450.

If these supports are lost we would enter a much longer correction near $ 7,000.

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