Bitcoin BTCUSDT 4 hour Price Analysis April 9, 2023

BTCUSDT

The 4-hour chart shows the 20-period exponential moving average (20-EMA) flattening out and the relative strength index (RSI) just below the midpoint, indicating that neither the bulls nor the bears have an edge at the moment. Although this state of indecision is unlikely to persist for long, predicting the direction of the potential breakout is difficult.

Hence, it may be wise to wait for a clear breakout before making any directional trades. Traders should pay attention to the significant levels of 29,200 on the upside and 26,500 on the downside. A breach of either of these levels could trigger a short-term trending move.

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