#Bitcoin Technical Analysis: BTC Traders on Edge as Mixed Signals Keep Market GuessingAs of April 12, 2024, bitcoin’s price exhibits resilience, trading at $70,748, with oscillators showing mixed signals while moving averages firmly suggest a bullish trend heading into the weekend.The relative strength index (RSI) on the daily scale sits at a neutral 56, indicating neither overbought nor oversold conditions, suggesting that BTC has room to maneuver in either direction without immediate pressure from traders. Meanwhile, other oscillators like the Stochastic and commodity channel index (CCI) present neutral to mildly bullish signals, pointing to potential upward momentum without significant overextension. On the other hand, the moving average convergence divergence (MACD) level shows a bearish signal.A detailed look at the moving averages (MAs) underscores a strong bullish sentiment across various time frames. Both exponential moving averages (EMAs) and simple moving averages (SMAs) from 10-day to 200-day periods are all signaling positive sentiment. This unanimity among short-term and long-term averages highlights a robust underlying strength in Bitcoin’s price trajectory, potentially indicating sustained bullish activity ahead.On the 1-hour chart, bitcoin displays marked volatility, with its price fluctuating between $69,550 and $71,287. This chart is particularly vital for day traders as it highlights critical points for entering and exiting trades. For example, a revisit to the lower limit of $69,550 could present an appealing opportunity to buy, whereas reaching the peak of $71,287 might suggest a favorable moment to sell and benefit from the short-term price movements.

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