BTC aims to break through the 66.8K barrier to continue
- BTC/USDT remains below the 0.786 Fibonacci level (66.8K), but buyers of the mother cryptocurrency defend the psychological level of **65K**.
- On the daily chart, we have observed that after reaching its all-time high at 73.8K and being rejected, the price has not managed to return to those levels. Instead, it has created a lower high at 71.8K.
- The outflow of funds from Bitcoin ETFs and significant liquidity absorption by medium-term market participants have led us to this waiting and consolidation period.
- Currently, the BTC/USDT price is trading around 66.5K, finding support at the 64.9K level (35-day EMA on the daily chart).
What to Expect in April for BTC Price?
To assess what will happen in the month, we need to look at higher timeframes, such as weekly or monthly. Regarding the weekly candle, it closed at **71.3K** (the highest weekly close in history). However, despite being a bullish close, BTC has returned to seek liquidity in the **65K** zone. To confirm weekly bullish continuation, we need to close above at least **70K**.
As for the monthly candle in April, it has started in red, indicating bearish strength. However, if we look back at BTC's price history, in most cases, when we start the month in red, the monthly candle has always closed in green during bullish times. In this plausible scenario, especially considering the halving month, the idea that BTC could reach **80K** or even more is not far-fetched .
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