Bitcoin (BTC) Price Analysis for April 3

Bulls lose momentum at the end of the week, according to the price change over the past 24 hours.

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While Bitcoin (BTC) price has fallen 0.85% since yesterday, it is up 4.37% from the past week.

BTC/USD Chart by TradingView

On the hourly chart, Bitcoin (BTC) is trading in the middle of the local channel between the support at USD 45,650 and the resistance at USD 46,953. Buying volume has exploded, confirming buyers’ energy. If the rise continues, BTC could hit $47,000 by the end of the day.

BTC/USD Chart by TradingView

On the daily time frame, Bitcoin (BTC) has broken off the support level at $44,776 meaning bulls remain stronger than bears.

If the price can stay between $46,000 and $47,000 by the end of the week, growth could soon lead to the $48,000 zone.

BTC/USD Chart by TradingView

As of the medium term scenario, BTC remains bullish as the bulls are fixed above $45,000. Now, growth can continue slowly to $50,000 as the capital has accumulated enough for further growth. However, it could take a few weeks for buyers to return to the nearest $52,000 resistance.

Bitcoin is trading at $46,451 at the time of writing.

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