Bitcoin recovers the $46K level, but several factors could prevent a stronger breakout

After dropping below $45,000 on March 31, Bitcoin (BTC) surprised investors with a quicker-than-expected recovery to the $46,500 level.

Data from Cointelegraph Markets Pro and TradingView shows that bears managed to drop BTC to an overnight low of $44,210 before bulls showed up in force to lift the price back above $46,500 by midday.

BTC/USDT 1-day chart. Source: TradingView

Here’s what several analysts are saying about the short-term outlook for Bitcoin moving forward and what developments…


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