$BTC price analysis
Bitcoin rose above the 20-day exponential moving average ($65,855) on April 22, but the bears stalled the recovery at the 50-day simple moving average ($67,509).
#BTC/USDT daily chart.
Both moving averages have flattened out, and the relative strength index (RSI) is just below the midpoint, indicating a balance between supply and demand. If the price sustains below the 20-day EMA, the BTC/USDT pair could slump to $60,775. Buyers are expected to defend this level as a break below it may clear the path for a collapse to the 61.8% Fibonacci retracement level of $54,298.
Contrarily, if the price turns up and breaks above the 50-day SMA, it will suggest that lower levels are attracting buyers. The pair may then climb to $73,777. Buyers will have to overcome this barrier to catapult the pair to $84,000.
