Main Points
- New Year’s Modest Start: Bitcoin opened the new fiscal year on a slightly higher note, with a starting price of 12,684,746 yen (＄84,714).
- Short-Term Volatility Persists: Although prices have rebounded from recent lows, high volatility continues with a significant range between support and resistance.
- Technical Levels Matter: Key technical lines include a support around 11,200,000 yen (＄74,798) and a resistance near 15,000,000 yen (＄100,176), with the current price still below resistance.
- Future Trends Uncertain: Short-term upward momentum appears likely, yet full trend reversal awaits a decisive break above the resistance level.
1. A Modest Start but Continuity Questioned
As the new fiscal year begins, Bitcoin has shown a modest upward start. The market opened at 12,684,746 yen (＄84,714) and has since experienced some recovery, with the most recent price reaching 12,801,999 yen (＄85,497). However, even though the price is slightly higher than its initial level, investors are questioning whether this uptick signals a sustained trend or is merely a temporary fluctuation as new funds slowly flow in.
New capital inflows are typically easier on April 1, suggesting that more dynamic price movements might materialize in the coming days. For now, though, the market appears to be in a state of cautious optimism with a possibility of several more days of modest gains before any major directional move takes hold.
2. Latest 1-Hour Chart Analysis
At 7:19 AM on April 2, the BTC/JPY 1-hour chart provides insight into the short-term dynamics. After opening at 12,684,746 yen (＄84,714), the price initially fell before rebounding. Recently, the price has turned upward again. Despite these fluctuations, the overall chart reveals that the high and low prices remain widely spaced—indicating that volatility is still a significant factor in the market.
3. Price Overview
The price data for Bitcoin in this session is as follows:
- Opening Price: 12,684,746 yen (＄84,714)
- High Price: 13,378,048 yen (＄89,344)
- Low Price: 11,284,730 yen (＄75,364)
- Most Recent Price: 12,801,999 yen (＄85,497)
This snapshot reflects a market that initially dropped to a low of 11,284,730 yen (＄75,364), rebounded sharply to a high of 13,378,048 yen (＄89,344), and then settled back to around 12,801,999 yen (＄85,497). While the rebound indicates buying pressure, the significant swing between the low and high underscores persistent volatility.
4. Recent Price Movement: Signs of a Rebound
After falling from the opening price, Bitcoin hit a low of 11,284,730 yen (＄75,364), then recovered to 13,378,048 yen (＄89,344) before falling again. Recently, however, the price has bounced upward once more from a rebound off an approximate low of 12,732,747 yen (＄85,034) to reach the current level of 12,801,999 yen (＄85,497). This movement suggests that while there is considerable short-term buying pressure, the market is still navigating its volatile environment.
5. Technical Analysis: Critical Support and Resistance Levels
Technical analysis reveals two key price levels on the chart:
- Support: Around 11,200,000 yen (＄74,798)
- Resistance: Around 15,000,000 yen (＄100,176)
At present, Bitcoin’s price has decisively broken below the 15,000,000 yen (＄100,176) resistance line; however, the recent rebound from the lower prices shows that buyers are still active. For Bitcoin to transition into a sustained upward trend, the price must eventually break above this resistance level. Until then, the market remains in a state of cautious recovery, with technical levels serving as important indicators of future direction.
6. Future Outlook: Short-Term Upside Amid Persistent Uncertainty
The 1-hour chart suggests that the short-term upward trend may continue, driven by strong rebounds from recent lows. However, significant resistance remains around 13,300,000 yen (＄88,823)—a level where previous highs were noted. If the price meets heavy resistance at this point, it could stall or even reverse, further emphasizing the need for a decisive breakout to confirm a sustained uptrend.
To gain a clearer picture of the longer-term trend, investors should also consider daily and weekly charts. These higher time frames can provide additional context, though for now, the focus remains on short-term recovery. In summary, while there is optimism for further gains, the overall continuity of the current upward movement remains under a major question mark.
Bitcoin’s new fiscal year started modestly higher, yet uncertainty looms over whether this momentum will be sustained. Despite a rebound from the initial low and some upward movement seen on the 1-hour chart, persistent volatility and a significant gap between the support and resistance levels suggest caution. For the market to transition into a definitive upward trend, Bitcoin must break above the key resistance level of 15,000,000 yen (＄100,176) and establish a more stable trading range. As always, investors are advised to watch both short-term charts and longer-term trends to navigate this unpredictable market environment.
