FX.co ★ Bitcoin analysis for April 5th, 2023.

Blue lines- trading range

Bitcoin is trading around $28,000. Price made another failed attempt to break out and above the trading range it is in since mid March. Price got rejected at $28,800 and is turning lower. So far price continues moving sideways as we mentioned in previous posts. Traders better be cautious and patient as long as price is trading inside the trading range. Key support remains at $26,700-$26,600. Failure to hold above this level could push price towards $23,000. Until then, short-term trend remains neutral.