9 Apr BTCUSD outlook: Near-term bounce seenBitcoin / US DollarCOINBASE:BTCUSDChartingGenieBTCUSD is testing the H1 fair value gap and H1 support zone at around 71126.99. Holding above this level may prompt BTCUSD to extend its near-term upside momentum toward the swing high at 72861.38. Conversely, a break below 71126.99 may drive BTCUSD toward the lower bound of the H1 fair value gap at around 70200.00. Bitcoin prices surged following news of potential transit fees through the Strait of Hormuz, with payments in cryptocurrencies. However, weak investor demand continued to limit the upside, with investors redeeming more than 90 mln USD* in spot bitcoin ETF yesterday, pointing to a cautious risk appetite. Bitcoin prices may remain volatile amid geopolitical developments. By Li Xing Gan, Financial Markets Strategist Consultant to Exness