Bitcoin price completed the close of the Daily, Weekly, Monthly and Q1 in the green. Let’s take a look at the charts to determine what could be expected for the number one crypto asset in the near future.
Bitcoin Price: Daily Chart
The Daily Chart for Bitcoin price paints an overall positive picture for the bulls. The previous week’s bear blockade at $4050, which was the task at hand for the bulls, was ultimately overcome last Friday.
Bulls weren’t the fools on this April 1st as BTC hit a new yearly high at $4138.
The $4050 level itself has already been tested on Saturday and also in the early hours prior to the run up to the high – these are encouraging signs of prior resistance now becoming support.
The volume profile shown down the right hand side of the chart illustrates that the Point of Control in terms of price where volume is traded remains back at $3906. This is also where the 50-day moving average is found.
This is where the bulls need to step in should the bears decide to take advantage of the decreasing…