Bitcoin Price Analysis: Short-Term Decline or Upside Adjustment?

5 Apr

Although the price of Bitcoin is currently experiencing a short-term decline, the possibility of a more significant downward adjustment cannot be denied. If the price surpasses the support level at 66,460, we may witness a deeper decline, continuing to touch lower support levels.

However, in this volatile context, when looking at the chart, we see that the RSI indicator is currently stable around the 55 level, and maintaining or even increasing towards 60 could forecast an upcoming price increase. This indicates that despite the short-term adjustment, the potential for Bitcoin price appreciation is still maintained and may become clearer in the near future.
Nevertheless, it's important to monitor news and market developments for informed and effective trading decisions.