Bitcoin Price May Surge to $48,544.92 or Dip to $32,583.55

At the time of writing, the trading price of Bitcoin (BTC) versus the USDT is worth $41,573.02 per BTC. In the past 24-hours, the trading situation for Bitcoin has leaned towards the bullish side. This is the reason why a 0.19% surge has been witnessed in the price of Bitcoin in the past 24-hours.

Past Performance of Bitcoin

In the past 24-hours, the price of Bitcoin has shifted its position from the bullish trend to the bearish trend, and then back to the bullish. This means that the bulls are trying really hard to push the price of Bitcoin and keep it into the bullish zone.

The past 7-day performance of Bitcoin is also showing the same trend. The report shows that on April 13, the price of Bitcoin was at $40.66k per BTC. From there, the bears continued with their selling spree and continue bringing their trading price to the lower end.

From the $40.66 per BTC mark, the bears were able to pull the price of Bitcoin down to $38,801.11 per BTC on April 18, 2022. However, right after the dip, the price of Bitcoin started growing and so far, its trading price has climbed up to its current high price.

Current Market Sentiments about Bitcoin

Even now, the trading price of Bitcoin is over the $40k per BTC benchmark and the bulls are trying really hard to keep sustaining the pressure coming from the bears.

Despite the recent rally, the current market sentiments of the investors are going with selling Bitcoin. There seems to be a state of panic among the investors, which is why they are not able to give Bitcoin the push it needs to grow higher.

At the moment, over 42% of the total investors are willing to sell Bitcoin and only 19.23% of investors are willing to buy it. The moving averages for Bitcoin are also pointing towards the bearish trend, while the oscillators are indicating a neutral trend.

The summary scale for Bitcoin is currently bearish and the relative strength index is also at 47.71. With the general market sentiments being in the bearish zone, the price of Bitcoin may move to the negative side.

Future Price Predictions for Bitcoin

For now, the bulls are defending their position against the bears. If they succeed in doing that, they will be able to launch the trend into the resistance zone. Going forward, the investors may try and push the price of Bitcoin up to the first resistance mark of $44,091.39 per BTC. If the sentiments of the investors remain high, then the price of Bitcoin may surge to $48,544.92.

On the other hand, if the bears prevail against the bulls, they may drag the price of Bitcoin below the $40k mark. From there, they may attempt to pull the price of Bitcoin below $36,266.48 per BTC. If the bulls fail to fight off the bears, then the price of Bitcoin may dip to $32,583.55 per BTC.