Bitcoin Price Technical Analysis 11.04.2023

Bitcoin has reached the $30k level for the first time since last June.

As Cryptomelih also mentioned in his Bitcoin analysis shared yesterday, it managed to rise up to the $30k level by breaking upwards the price range of $26.6k to $28.9k As can be seen in the chart, if Bitcoin were to make a turnaround, it would need to use this $28.8k level that it broke through with difficulty as support.

For the continuation of the rise, positive news will be sent to the media. If Bitcoin manages to hold on by daily spending above $29k, it will target the next upper resistances.

To continue the uptrend, bitcoin needs to gain the $32.6k region ahead. Of course, it should not be forgotten that you will sell food from here. We see that Btc.d is at a critical level as the market moves upwards under the leadership of Bitcoin. And while bitcoin is so dominant, altcoins seem a bit difficult to move.

The analysis shared here is not investment advice but rather support and resistance levels that I believe could provide short-to-medium term trading opportunities in the market. The responsibility for trade execution and risk management lies with the user. I Strongly Suggest using stop loss on trade setups.
I wish everyone profitable trading.

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