BTC analysis report reveals some surprising trends in the Bitcoin chart in the coming days. BTC’s price is expected to rise by $50,000 as it tries to stall above $41,000.
In recent days, BTC has experienced a rise in the market since April 11, 2022. Previously, Bitcoin struggled to keep up above $40,000, with the highest at $48,189 on March 28 and $39,200 on April 11. The BTC investors are worried about the long-term investment plans seeing the condition of the coin in the market.
Bitcoin has always remained on top in the crypto market. With the Ukraine-Russia War, European Union’s crypto policy, and rising inflation rates, BTC is trying to fight off the bear market with all its might.
The major resistance at horizontal in the market was found at $42,250 with a 0.382 Fib retracement resistance level. This resistance level is considered to be declining, similar to the level in February.
Crypto analysts believe this resistance that was descending on March 21 might act as resistance again. On April 6, the line had dropped down below but rose again after some time.
Long-Term Analysis of BTC
Investors around the world search for a long-term analysis of the BTC price to ensure their investments are profitable.
According to the wave count analysis, there is expected upward movement in the coming days by $50,000. There might be a short-term drop in between but that might just be a signal for the rising price.
Based on the chart you see in the above image if the BTC price drops for some reason the least price would be around $38,000.
The declining line indicates that it is short-term and will work as support to raise the price in a long term. The BTC price is expected to rise by at least $50,000 based on the long-term analysis.