April second week session has started while Bitcoin price continues above $5100, the price has entered a lateralization area between $5000 – $5100 which causes the fear to increase before a possible pullback to $4500.
During Sunday session we saw how the price was lateralized in the $5000, however we have had a slight increase, but beware that we must bear in mind that, the price has increased with a low volume level.
- Bitcoin over the $ 5100
- Low volume level
- Possible pullback towards the $ 4500
As mentioned yesterday, the price has been maintained with a fairly unpredictable movement, although the trend indicates a possible setback to the area of $ 4500 should be noted that you can make money in the brief impulses that BTC does. For example today’s momentum which has increased the price by more than $ 100, although this is not recommended for inexperienced traders.
At this time BTC is above the MA 200, while we see a cross of the EMA 500/100 EMA average, which could bring the increase we had mentioned of the $ 5800 before seeing a pullback.
At this time it is best to avoid investing. On the other hand, for the most risky, an entry in $ 5225 with a target of $ 5700 is an option.
- Moving Averages EMA 9/26
- RSI (relative strength index) 72 $
- Support $3500
- Resistance $6100
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.