Bitcoin Price Analysis April 9, 2023

BTCUSDT

I'm neutral for now since Bitcoin's price has been trading within a narrow range for some time, forming a third consecutive Doji candlestick pattern on the weekly chart, indicating indecision between the bulls and the bears.

The 20-day exponential moving average is flattening out, and the RSI is slipping towards the center, signaling a balance between supply and demand. The BTC/USDT pair may drop to 25,250 if the price falls below the 20-day EMA, while a rally above 29,200 could enhance the chances of an upswing to 30,000 and then 32,500.

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