Bitcoin (BTC) Price Analysis for April 18

Bears have not seized the initiative for long, and coins are again trading in the green zone.

BTC/USD

Bitcoin (BTC) is the biggest gainer today, rising by 2.72%.

The rate of Bitcoin (BTC) has broken the local resistance level at $29,932 and started a sharp rise. At the moment, there are no prerequisites for a fall as the rate is again back above the vital zone of $30,000. In this case, a further rise to $31,000 is the most likely scenario.

Today’s sharp growth is about to absorb the recent correction of Bitcoin (BTC). If the bar closes near the resistance at $30,614, the breakout may lead to growth to the $31,000 mark.

On the weekly chart, the price has bounced off the mirror level at $29,290. It is too early to make any projections as many days remain until the candle’s closure.

However, if buyers can manage to hold the rate above the $30,000 zone, a further test at which bulls might face problems is the resistance at $32,376.

Bitcoin is trading at $30,308 at press time.

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