Bitcoin Price Analysis: BTC/USD Trends of February 18–24, 2019

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Bitcoin Price Analysis: BTC/USD Trends of February 18–24, 2019

Bitcoin price may have its high at $4,237 in case the demand level of $3,679 holds and the Bulls gained enough momentum. Also, the BTC price will find its low at $3,247 if there is a breakdown of the $3,679 price level.

Bitcoin Price Analysis: BTC/USD Trends of February 18–24, 2019

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Bitcoin Price Analysis: BTC/USD Trends of February 11–17, 2019

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Bitcoin Price Analysis: BTC/USD Trends of February 11–17, 2019

In case the demand level of $3,679 holds and the Bulls gained enough momentum, there will be a bullish rally towards the resistance levels of $4,237-$4,692. The breakdown of the $3,679 level will return the Bitcoin price to the previous low of $3,247.

Bitcoin Price Analysis: BTC/USD Trends of February 11–17, 2019

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Bitcoin Price Analysis: BTC/USD Trends of January 21–27, 2019

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Bitcoin Price Analysis: BTC/USD Trends of January 21–27, 2019

The strong bearish daily candle that broke down and closed below the $3,679 price level yesterday, followed by another bearish candle today implies that Bitcoin may find support at the previous low of $3,247.

Bitcoin Price Analysis: BTC/USD Trends of January 21–27, 2019

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Bitcoin Price Analysis: BTC/USD Trends of January 7–13, 2019

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Bitcoin Price Analysis: BTC/USD Trends of January 7–13, 2019

The bullish rally of the Bitcoin price is not certain until the coin breaks out at the resistance level of $4,249 and retests the level.

Bitcoin Price Analysis: BTC/USD Trends of January 7–13, 2019

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Bitcoin Price Analysis: BTC/USD Trends of December 31–January 06, 2019

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Bitcoin Price Analysis: BTC/USD Trends of December 31–January 06, 2019

The bearish candle will have to penetrate and close below the support level of $3,679 before BTC price will experience bearish breakout and this may return it to its previous low of $3,247.

Bitcoin Price Analysis: BTC/USD Trends of December 31–January 06, 2019

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Bitcoin Price Analysis: BTC/USD Trends of December 10–16, 2018

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Bitcoin Price Analysis: BTC/USD Trends of December 10–16, 2018

A breakout below the support level of $3,094 will further decline in Bitcoin price towards $2,261 – $1,500 price level. Traders can remain flat as long the consolidation continues.

Bitcoin Price Analysis: BTC/USD Trends of December 10–16, 2018

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Bitcoin Price Watch: BTC/USD Could Correct Lower To $6,400

Key Points

Bitcoin price traded further higher above the $6,450 and $6,510 resistances against the US Dollar.
There is a short term ascending channel in place with support at $6,505 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely forming a double top pattern near the $6,600 resistance.

Bitcoin price gained traction above $6,450 and tested $6,600 against the US Dollar. BTC/USD is currently struggling to clear $6,600 and it may correct lower in the short term.
Bitcoin Price Analysis
Yesterday, we saw an upside break above the $6,320 resistance in bitcoin price against the US Dollar. The BTC/USD pair gained traction and it climbed above the $6,450 and $6,510 resistance levels. There was a positive price action developed above the $6,500 level and the 100 hourly simple moving average. The price even tested the $6,600 level where sellers emerged.
The chart indicates that the price tested the $6,600 resistance on two occasions and failed. This means there is a chance of a double top pattern forming near $6,600. On the downside, an initial support is near the $6,510 level. It is close to the 23.6% Fib retracement level of the recent leg from the $6,200 swing low to $6,600 high. Moreover, there is a short term ascending channel in place with support at $6,505 on the hourly chart of the BTC/USD pair. If the pair breaks the channel support, it could decline towards $6,400. The $6,400 support is important since it is the 50% Fib retracement level of the recent leg from the $6,200 swing low to $6,600 high.

Looking at the chart, bitcoin must break the $6,600 resistance soon. If not, the price could correct lower towards $6,510 or $6,400 in the near term. Above $6,600, the price may climb towards $6,720 and $6,750.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is slowly moving in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is presently positioned nicely above the 60 level.
Major Support Level – $6,400
Major Resistance Level – $6,600
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Bitcoin Price Weekly Analysis: BTC/USD Decline Could Extend to $5,950

Key Points

Bitcoin price is bleeding and it could extend its slide below the $6,100 level against the US Dollar.
There is a connecting bearish trend line in place with resistance at $6,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is clearly under pressure and it may perhaps slide to $6,000 and $5,950 in the near term.

Bitcoin price recently broke the $6,214 swing low against the US Dollar. BTC/USD is likely to extend declines and it could spike below $6,000 if sellers remain in action.
Bitcoin Price Trend
This past week, bitcoin price started a major downside move from well above the $7,200 level against the US Dollar. The BTC/USD pair broke many supports on the way down like $7,200, $7,000, $6,750, $6,600 and $6,400. There was also a break below a major bullish trend line with support at $7,200 on the 4-hours chart. The decline was such that the price even broke the $6,214 low and settled below the 100 simple moving average (4-hours).
Recently, the price broke a bearish flag with support at $6,400 to extend slides. It tested the $6,100 support and it is currently consolidating above the $6,150 level. It seems like it could correct a few points, but the $6,300 level is likely to act as a strong resistance. There is also a connecting bearish trend line in place with resistance at $6,300 on the 4-hours chart of the BTC/USD pair. Above the trend line, the previous support near $6,500 is the next major resistance. On the downside, the price could test the 1.236 Fib extension level of the last major wave from the $6,214 low to $7,406 high.

Looking at the chart, BTC price is clearly in a downtrend, but the $6,000 and $5,950 support levels could provide a strong base for a recovery.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is slowly moving back in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is still well below the 30 level.
Major Support Level – $6,000
Major Resistance Level – $6,500
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Bitcoin Price Watch: BTC/USD Breakdown Towards $6,000 Looks Real

Key Points

Bitcoin price tumbled and broke many supports like $7,000, $6,800 and $6,560 against the US Dollar.
There was a break below a declining channel with support at $6,790 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair has moved into a bearish zone and upsides are now likely to face sellers near $6,560 and $6,800.

Bitcoin price plummeted below the $6,800 and $6,560 supports against the US Dollar. BTC/USD could accelerate declines if sellers push the price below $6,200.
Bitcoin Price Analysis
After hitting the $7,300 and $7,400 targets, bitcoin price faced a strong resistance against the US Dollar. The BTC/USD pair started a sharp downside move and tumbled below the $7,000 support. There was a sharp rejection pattern noticed around the $7,400 level, which resulted in heavy losses. The price even broke the $6,800 support area and settled below the 100 hourly simple moving average.
During the decline, there was a break below a declining channel with support at $6,790 on the hourly chart of the BTC/USD pair. Finally, the price broke the $6,560 support area and surpassed the $6,500 level. It traded close to the $6,200 support area and formed a low at $6,249. Later, it corrected higher and is currently testing the 23.6% Fib retracement level of the recent decline from the $6,988 high to $6,249 low. If there is an upside break above the $6,450 and $6,500 levels, the price could test $6,618. It represents the 50% Fib retracement level of the recent decline from the $6,988 high to $6,249 low.

Looking at the chart, bitcoin is back in a bearish zone below $6,560. If sellers remain in action and pushes the price below $6,200, BTC/USD could retest the $6,000 support in the near term.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is placed heavily in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently well below the 25 level.
Major Support Level – $6,200
Major Resistance Level – $6,618
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Bitcoin Price Watch: BTC/USD’s Resistance Turned Support

Key Points

Bitcoin price climbed further higher and tested the $7,400 resistance area against the US Dollar.
There is a major ascending channel in place with support at $7,290 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could dip a few points, but the previous resistance near $7,300-25 is likely to hold losses.

Bitcoin price traded to a new weekly high near $7,405 against the US Dollar. BTC/USD is correcting lower, but dips near $7,290 and $7,325 remain supported.
Bitcoin Price Analysis
In the weekly analysis, we discussed two possible targets for bitcoin price (7,300 and $7,400) against the US Dollar. The BTC/USD pair traded higher recently and both 7,300 and $7,400 targets were achieved. Recently, the price broke the key resistance at $7,325 and made a nice upside move. It traded above the last swing high and climbed to a new weekly high at $7,406.
Later, the price started a downside correction and declined below $7,350. The price also moved below the 23.6% Fib retracement level of the recent wave from the $7,225 low to $7,406 high. However, declines were protected by the previous support at $7,325, which acted as a support. Moreover, the price also stayed above the 50% Fib retracement level of the recent wave from the $7,225 low to $7,406 high. At the outset, there is a major ascending channel in place with support at $7,290 on the hourly chart of the BTC/USD pair. The pair is currently trading well above the $7,325 and $7,300 and dips remain supported.

Looking at the chart, bitcoin is following a nice bullish path from the $7,225 low. If there is a downside correction, buyers could appear near $7,325, $7,300 and $7,290. On the upside, a close above $7,400 may open the doors for a push towards the $7,460 and $7,480 levels.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is to some extent placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently moving lower towards the 50 level.
Major Support Level – $7,290
Major Resistance Level – $7,400
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Bitcoin Price Weekly Analysis: BTC/USD Targets $7,300-7,400

Key Points

Bitcoin price is moving higher nicely and it could soon test the $7.300 level against the US Dollar.
There is a major bullish trend line formed with support at $7,050 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to climb higher slowly and steadily above the $7,300 level in the near term.

Bitcoin price is gaining strength above the $7,100 level against the US Dollar. BTC/USD buyers are now targeting the $7,300 and $7,400 resistances.
Bitcoin Price Rise
This past week, bitcoin price broke a major resistance zone near the $6,775 level against the US Dollar. The BTC/USD pair traded above the $7,100 level and later corrected lower. The price corrected back towards the broken resistance at $6,775, which acted as a support. Later, there was a fresh upward move and the price traded above the $6,900 and $7,000 level. There was a proper close above the $7,000 level and the price is now well above the 100 simple moving average (4-hours).
During the rise, the price cleared the 76.4% Fib retracement level of the last decline from the $7,135 high to $6,778 low. It opened the doors for more gains and the price traded above the $7,135 high. More importantly, it tested the 1.236 Fib extension level of the last decline from the $7,135 high to $6,778 low at $7,219. It indicates that the price is now placed nicely in an uptrend above $7,000. On the downside, there is a major bullish trend line formed with support at $7,050 on the 4-hours chart of the BTC/USD pair. Therefore, dips remain supported near $7,050 and $7,000.

Looking at the chart, BTC price is likely to extend gains towards the $7,355 level. It is the 1.618 Fib extension level of the last decline and a key resistance zone. Above this, the next target for buyers could be $7,400.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is placed nicely in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well above the 60 level.
Major Support Level – $7,000
Major Resistance Level – $7,355
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Bitcoin Price Weekly Analysis: BTC/USD Poised To Test $7,000

Key Points

Bitcoin price gained traction recently and moved above the $6,550 resistance against the US Dollar.
There is a crucial bullish trend line in place with support at $6,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair might dip a few points, but it remains supported above the $6,650 and $6,550 levels.

Bitcoin price is positioned nicely in a bullish zone above $6,550 against the US Dollar. BTC/USD is likely to trade towards the $6,900 and $7,000 levels in the near term.
Bitcoin Price Trend
This past week, there was a solid support formed near the $6,220 level in bitcoin price against the US Dollar. The BTC/USD pair started an upside move and traded above the $6,420 and $6,550 resistance levels. There was also a close above the $6,550 level and the 100 simple moving average (4-hours). The price climbed above the $6,650 level and is currently trading in a bullish zone.
It traded close to the $6,800 level and was seen struggling near the $6,780-6,800 zone. Should there be a break and close above $6,800, the price is likely to accelerate towards the $6,900 and $7,000 levels in the near term. Above $7,000, the price could even test the $7,200 level. On the downside, an initial support is near the 23.6% Fib retracement level of the last wave from the $6,229 low to $6,789 high. Moreover, there is a crucial bullish trend line in place with support at $6,650 on the 4-hours chart of the BTC/USD pair. Therefore, it seems like there is a decent support` formed near $6,650.

Looking at the chart, BTC price is positioned nicely in a bullish zone above the $6,550 support. As long as there is no close below $6,550 and $6,500, the price might continue to climb higher.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is slightly placed in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now well above the 50 level.
Major Support Level – $6,550
Major Resistance Level – $6,800
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Bitcoin Price Weekly Analysis: BTC/USD Could Correct Above $6,400

Key Points

Bitcoin price is slowly recovering slowly and steadily above the $6,100 level against the US Dollar.
There was a break above a key bearish trend line with resistance at $6,220 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair must stay above the $6,100 level to stay in the positive zone and recover higher.

Bitcoin price declined heavily below $6,500 against the US Dollar. BTC/USD found support near $6,000 and is currently attempting an upside correction.
Bitcoin Price Resistance
This past week, there were heavy losses in bitcoin price from well above the $7,100 level against the US Dollar. The BTC/USD pair fell and broke many supports like $7,000, $6,830, $6,500 and $6,200. The price tested the $6,000 support zone where buyers appeared. A low was formed at $5,982 and later the price started an upside correction towards the $6,500 level.
It broke the 23.6% Fib retracement level of the last major drop from the $7,155 high to $5,982 low. More importantly, there was a break above a key bearish trend line with resistance at $6,220 on the 4-hours chart of the BTC/USD pair. However, the upside was capped by the $6,450 level. The 38.2% Fib retracement level of the last major drop from the $7,155 high to $5,982 low also acted as a resistance. At the moment, the price is currently testing the broken trend line and is finding bids above $6,200. BTC price could bounce back and it could accelerate gains above the $6,400 and $6,500 levels.

Looking at the chart, BTC price is showing a few positive signs above $6,100. However, it must clear the $6,400 and $6,500 levels to stage a decent recovery.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is slowly moving in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is still below the 50 level.
Major Support Level – $6,100
Major Resistance Level – $6,400
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Crypto Market Crumbles To New Year-To-Date Lows, Where Does it go Next?

On Thursday, investors awoke to a promising sight — a $300 candle that brought Bitcoin’s price off a $6,150 low — so some thought that the worse for over for the market. But, as some investors were lured into a false sense of security, the market fell even further to establish new year-to-date lows.
There’s Blood In The Streets!
As some like to describe the current state of the cryptocurrency market, “there’s blood on the streets!” Taking a glance at cryptocurrency prices as it stands, it becomes quickly evident that blood of may as well be on the streets of this nascent industry.
On Friday afternoon, Bitcoin unexpectedly fell by over $350 dollars, from $6,425 to a low of $6,025 on the back of an influx of selling volume. This bearish movement quickly cascaded throughout the whole market, with altcoins experiencing a similar decline. With this move, the valuation of all cryptocurrencies has established a new year-to-date low at $209 billion.

As is a common theme in any market, investors did their best to draw connections to announcements and this price drop. Some speculated that this was a direct result of the SEC’s recent verdict to delay a final decision on the fate of the VanEck and SolidX ETF. Many saw this ETF as a long time coming, as cryptocurrency industry leaders have been trying their hand at creating this form of an investment vehicle for years now.
Stepping back, one could note that this move is likely courtesy of an extended downtrend off Bitcoin’s most recent peak at $8,500. As NewsBTC editor and crypto analyst Joseph Young noted in a recent tweet, why should an announcement expected by many lead the market to tank on such a drastic scale?

Why would the delay of a Bitcoin ETF, which was expected by the vast majority, lead the market to tank suddenly by a massive margin? When in fact news hasn't been affecting crypto exchange market as seen in the case of NYSE/ICE?
OTC sell-off or just strong downtrend more likely.
— Joseph Young (@iamjosephyoung) August 8, 2018

Joseph noted that this pullback can be largely attributed to stronger downtrend or a substantial over-the-counter sell-off, which may push crypto prices lower for the time being. But as is the multi-faceted nature of this market, this drop off could also be a result of any combination of technical and fundamental factors.
Many technicians see $5,800 as the next vital stop for Bitcoin, as this specific level has proven to have been a strong line of support in prior bouts of downward price action.
‘The Flip Has Occurred” 
It has become apparent that traders have been doing their best to take advantage of this downtrend, with Nick Cote pointing out that the value of open short positions has eclipsed the value of long positions. While the difference may be of a small margin, this event goes to show that investor sentiment is quickly turning bearish.

The flip has occurred.Shorts surpass longs once again.#bitcoin $btcusd pic.twitter.com/4wSIqCguHi
— Nick Cote – Pizpie (@mBTCPizpie) August 10, 2018

But, while investors have been making bank off short positions, CryptOrca noted that “(a) trap is about to be set and all profits (will get) smoked.”

$BTCUSD #bitcoin
Shorts making serious $ … confidence growing … positions getting bigger … trap about to be set and all profits smoked.
— CryptOrca (@CryptOrca) August 9, 2018

For now, it remains to be seen whether CryptOrca’s call for a bear trap is in motion. But, while the Rothschild family name may make decentralized activists quiver in rage, as Baron Rothschild once said, “the time to buy is when there’s blood in the streets.”
Featured Image From Shutterstock
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Bitcoin Price Watch: BTC/USD’s Support Turned Resistance at $7,260

Key Points

Bitcoin price recovered and moved above the $7,000 handle against the US Dollar.
There is a crucial bearish trend line in place with resistance at $7,260 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair has to move past the $7,260 hurdle and the 100 hourly simple moving average for more gains.

Bitcoin price is slowly recovering above $7,000 against the US Dollar. BTC/USD is likely to struggle near a significant resistance at $7,260.
Bitcoin Price Analysis
After heavy declines, bitcoin price found bids near the $6,880 level against the US Dollar. The BTC/USD pair traded as low as $6,883 and later it started an upside correction. The price moved above the 23.6% Fib retracement level of the last slide from the 7,532 high to $6,883 low. More importantly, there was a break above the $7,000 handle, which opened the doors for more recoveries.
At the moment, the price is struggling to clear the $7,130 level and is consolidating in a range. Above $7,130, there is a significant resistance formed near $7,260. There is also a crucial bearish trend line in place with resistance at $7,260 on the hourly chart of the BTC/USD pair. An intermediate resistance is the 50% Fib retracement level of the last slide from the 7,532 high to $6,883 low at $7,207. Additionally, the same trend line is positioned with the 100 hourly SMA at $7,270. Therefore, there are many resistances aligned between $7,210 and $7,270.

Looking at the chart, BTC price may perhaps move further above $7,130. However, it won’t be easy for bitcoin buyers to clear the $7,260 barrier. On the downside, an initial support is at $7,000. Below this, the price may possibly move back towards the $6,800 level.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is placed nicely in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is positioned above the 50 level.
Major Support Level – $7,000
Major Resistance Level – $7,260
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