My period was four days late. I tool an ept pregnancy test and it was positive but it was very faint. The next day I started bleeding. Could I be pregnant?

Yessssss absolutely!! Sweety you need to make sure it is positive and that everything is OK. Spotting is very common in early pregnancy! Good luck

It's not spotting. Its like a regular period. Could my hcg levels just be too low for it to stop my period?

If you are pregnant, the bleeding wouldn't be an actual period. And if you are pregnant, than any bleeding needs to be discussed with your doctor, preferably immediately.