Bitcoin [BTC] Price Analysis: Turns a New Bullish Leaf Since 2018

A break above the trendline in March 2019, launched Bitcoin into its current upward trajectory.
BTC/USD dips are well supported above $5,200 in the short-term.

Several experts in the cryptocurrency market including Tom Lee, Tim Draper and Forbes contributor Chambers have come out to say that Bitcoin has finally bottomed. This follows a trend reversal from the lows in 2018 roughly at $3,143. A break above the trendline in March 2019, launched Bitcoin into its current upward trajectory. There was struggled at $4,000 but Bitcoin finally made above the former resistance at $4,200. A breakout from this level zoomed past the 200-day moving average exponential (EMA).
SourcE: TradingView
Further correction extended the gains past $5,000. Similarly, BTC/USD formed a monthly high on Coinbase at $5,502.19 before revisiting the region slightly below $5,000. This week support has been formed around $4,900 giving way to a retracement above $5,200. Meanwhile, Bitcoin is still trading in the green at $5,240.54 amid a building momentum likely to touch $5,300 in the coming sessions on Thursday. Any movement above this level will catapult BTC/USD towards $5,400 while the bulls still eye the highs around $5,500.
Source: TradingView
The hourly chart, on the other hand, shows Bitcoin above the 100 simple moving average (SMA). The sideways trading means that there is indecision on the market. Short-Term support at $5,200 will work to stop declines could test $5,000 (key support area). Still, in the same 1-hour range, the RSI is trending upwards at 55.2139. The correction in the direction comes after the indicator failed to break into the overbought resulting in a slide. The MACD is sitting well inside the positive region while ranging to confirm the prevailing sideways trend.
Prediction: BTC/USD dips are well supported above $5,200 in the short-term. Sideways trading to prevail in coming sessions as consolidation continues around $5,250. Further retracement to find support in a positive zone we explored yesterday at $5,120 – $5,160.
Bitcoin Price Key Technical Indicators:
200-day EMA: 4,733.57
MACD daily chart: +308.07
RSI daily chart: 70.4548 (holds on to the overbought region).
Initial support zone: $5,120 – $5,160
Support 2: 100 SMA 1-hour
Support 3: $5,000
Resistance 1: $5,300
Resistance: $5,400
Resistance 3: $5,500
The post Bitcoin [BTC] Price Analysis: Turns a New Bullish Leaf Since 2018 appeared first on Coingape.
Source: CoinGape

Bitcoin Price & Technical Analysis: BTC Back Up

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Bitcoin Price & Technical Analysis: BTC Back Up
The major crypto is rising again, trading around $5,254.28 on April 18.
Bitcoin Price & Technical Analysis: BTC Back Up

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Source: CoinSpeaker

Bitcoin (BTC) Price Analysis: Bulls Outperform Themselves – BTC/USD In The Green

Bitcoin reacted to a double-bottom pattern form around $4,950.
Bitcoin resumed the uptrend into a positive area past $5,160.

The session on Tuesday saw Bitcoin refresh the lows around $4,950. The retracement was necessary as Bitcoin encountered support congestion and overwhelming buying interest leading to a reversal. The price formed a double-bottom pattern close to $4,950. The pattern is usually interpreted as a positive sign and in this case, reaction to the pattern sent BTC/USD above $5,100 resistance as well as the 100 simple moving average (SMA) signaling a strong bullish move.  A break occurred above the 50% Fibonacci retracement level between the last swing high of $5,270.02 and a drop to $4,951.18.
Significantly, the visible bearish trendline shown yesterday did not hold back the buyers who breached the resistance at $5,097.36. This incredible move attracted more buying entries leading to another break above the resistance area at $5,120.00 – $5,160.00 (previously broken support). This paved the way for further gains that pulled Bitcoin above $5,200 as well as $5,250. A weekly high from at $5,270 before gain consolidation slightly above $5,200 commenced.
Bitcoin Price Analysis chart source: TradingView
Bitcoin is initially supported at $5,200 (current pivotal level). This means that a swing in either direction of this level could result in either considerable gains towards $5,400 or considerable gains that could refresh the support at $5,100 for the second time this week. Other support areas to look out for in the short-term include the 61.8% Fib level, $5,120 – $5,160 (main support) 23.6% Fib level (yesterday’s hurdle), the 100 SMA 1-hour, $5,000 and $4,950.
Also Read: Binance Coin (BNB) Price Prediction Today: Overwhelmingly Positive Levels – Eyeing $21.00
A broader look at the chart shows Bitcoin resumed the uptrend into a positive area past $5,160. It is likely that a retracement will occur. However, we can expect the bulls to strongly protect $5,120 – $5,160 support area. Moreover, $5,100 is also in a position to offer support. The upside is limited at $5,270 while further correction could test $5,400 and reignite gains towards $5,400.
Bitcoin Key Technical Indicators
MACD 1-hour: +21.56 (sits comfortably in the positive zone).
RSI 1-hour: 53.1946 after correction from levels above 60.00
Primary support area: $5,120 – $5,160
Critical resistance areas: $5,270, $5,300 and $5,400.
The post Bitcoin (BTC) Price Analysis: Bulls Outperform Themselves – BTC/USD In The Green appeared first on Coingape.
Source: CoinGape

Bitcoin Price Analysis: BTC/USD Continues Sideways, Expecting Breakout at $5,299

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Bitcoin Price Analysis: BTC/USD Continues Sideways, Expecting Breakout at $5,299
The bullish breakout of Bitcoin price at $5,299 level will expose the coin to $5,574 resistance level which may be its target in case the bulls increase its pressure. Should the resistance level of $5,229 holds, BTC price may continue its ranging movement.
Bitcoin Price Analysis: BTC/USD Continues Sideways, Expecting Breakout at $5,299

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Source: CoinSpeaker

Bitcoin Price Analysis: BTC/USD Calm After the Storm; Sideways Trading to Continue

Bitcoin stuck within a tight range between $5,000 and $5,100.
The most likely path of least resistance for BTC/USD is sideways according to technical levels.

BTC/USD is almost motionless following the calm that came after declines experienced on Thursday. The slight recovery from the support established at the 61% Fibonacci retracement level taken between the last swing high of $5,500 and a swing low of $3,882.17, made no significant headway above $5,100. Since then the upside is capped below $5,100 while the downside is supported at $5,000.
Bitcoin price short-term outlook: 4-hour chart
Bitcoin Price Analysis Chart Source: TradingView
The 4-hour chart places Bitcoin in an uptrend in spite of the setback this week. The downward trend did not break below the rising trendline. The upside is currently limited by the 21 Simple Moving Average (SMA)-hour currently holding at $5,125.02. The 50 SMA has just crossed above the 21 SMA to show that the bears have an upper hand on the market.
According to the moving average convergence divergence (MACD) 4-hour, BTC/USD still has a bearish bias. The MACD is still locked inside the negative zone. However, it has stopped the downtrend and is now ranging at -22.94.
Also Read: Tron Price Prediction Today: Holding on to $0.0250 and 50 DMA Support Levels
The relative strength index (RSI) in the same 4-hour range has recovered from the lows around 38.85. The uptrend has, however, lost strength short of 50.00 and is moving horizontally at 49.14. The most likely path of least resistance for BTC/USD is sideways at the time of writing.
Bitcoin Price Key Technical Indicators:
Resistance 1: $5,100
Resistance 2: $5,250
Resistance 3: $5,500
Support 1: $5,000
Support 2: 61.8% Fib level
Support 3: $4,750
21 SMA: $5,125.02.
50 SMA: $5,138.57
MACD 4-hour: -22.94.
RSI 4-hour: 49.14.
Meanwhile, new research released by Binance exchange indicates the correction witnessed from the lows in 2018 means that the market has finally found a bottom. A quote from a crypto expert says that
“having emerged from a period of the highest internal correlations in crypto history, the data may support the notion that the cryptomarket has already bottomed out.”
The post Bitcoin Price Analysis: BTC/USD Calm After the Storm; Sideways Trading to Continue appeared first on Coingape.
Source: CoinGape

Bitcoin Price Prediction Daily: Inverted Head-And-Shoulders Pattern in Action

The completion of the right shoulder is expected to result in a sustainable uptrend.
BTC/USD still has room for improvement despite the correction from the highs at $5,500.

Following the sudden slide yesterday, Bitcoin found support at $4,960 (on Coinbase) before reversing the trend above the critical $5,000 level. Bitcoin bulls, not ready to give up pulled the price above the 12-day Exponential Moving Average (EMA). The upside was, however, is capped below $5,050. The sideways trading that followed did not last long as the price broke above the 20-day EMA paving the way for more correction to the upside. BTC/USD brushed shoulders with $5,100 before retracing back to the current price at $5,077.
Bitcoin Price Prediction Chart Source: TradingView
The inverted head-and-shoulders pattern
The 1-hour chart shows the formation of an inverted heads and shoulders pattern. The pattern is usually associated with a bullish reversal following a downtrend that has found support. The completion of the right shoulder is expected to result in a sustainable uptrend. In case, BTC/USD to correct to $5,200 (resistance congestion).
Meanwhile, the 12 EMA is offering support at $5,059.66. The up trending market will have more weight if the 12 EMA can cross above the 20 EMA. The moving average convergence divergence (MACD) in the same 1-hour range is moving north from the lows of -60.84 to the current level at -11.95. These indicators show that the market has a bullish bias in the short-term and buyers are gaining traction against the sellers.
Bitcoin Price Prediction Chart Source: TradingView
The daily timeframe shows Bitcoin still trend upwards following the triangle breakout at the beginning of April. In fact, BTC/USD still has room for improvement despite the correction from the highs at $5,500.  The 12 EMA is offering immediate support while the 20 EMA at $4,732.14 is playing catchup. The MACD has started trending lower but is still comfortable in the positive zone at +327.
Bitcoin Price – Key Technical Indicators:
12-day EMA: $5,000
20-day EMA: 4,732.14
MACD daily: +327
Support 1: $5,050
Support 2: $5,000
Support 3: $4,732.14
Resistance 1: $5,100
Resistance 2: $5,200
Resistance 3: $5,500
The post Bitcoin Price Prediction Daily: Inverted Head-And-Shoulders Pattern in Action appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Price Analysis: Bull Market Cut Short – BTC/USD Seeks Balance at $5,000

Bitcoin encounters a minor setback; bulls defend $5,000 key support.
In the short-term BTC/USD has a bearish bias following Thursday 11 losses.

BTC/USD has encountered a devastating drop following the bullish breakout that tests $5,488.85 (on Coinbase). The devastating drop failed to find support at the 50 Simple Moving Average (SMA) 15-minutes close to $5,300.
The flash drop below the trendline ignited more losses below $5,200 (previous day support). BTC/USD refreshed the lows at $5,000 and is now changing hands at $5,022.30 amid growing bear influence.
Chart Source: TradingView
BTC/USD short-term outlook
The short-term outlook for BTC/USD has a bearish bias. The Relative Strength Index (RSI), for instance, is moving further down within the oversold. The levels below 25.00 have not been reached since the beginning of April. This means that the current selloff is worse since the surge witnessed last week.
Similarly, the moving average convergence divergence (MACD) crossed into the negative territory to market the beginning of the bear momentum. The signal divergence from the indicator shows that declines are far from over. Besides, it is still trending south at -46.
BTC/USD long-term outlook
Chart Source: TradingView
The weekly chart shows Bitcoin’s having a bullish bias in the long run. The price is below both the 50 SMA and the 100 SMA. However, trendline support is still in place. In addition to that, the MACD is heading upwards compared to the levels seen between November 2018 and December 2018. In fact, the signal line has crossed above the indicator to show that bulls are gaining traction.
Also Read: Crypto-Market Update: Bitcoin [BTC] Falls Back to $5000, LTC, BCH and TRX ‘Hodlers’ Incur Even Heavier Losses
The correction from the current price at $5,022.30 will go head to head with the hurdle at the 50 SMA weekly. Retracing past $6,000 and $6,200 will place Bitcoin in another trajectory likely to mark the beginning of the anticipated parabolic rise.
Key Technical Indicators:
MACD weekly: -426.56
50 SMA weekly: $5,628.13
100 SMA weekly: $6,388.60
RSI 15-minutes: 24.00
Key resistance: $5,200
Critical Resistance: $5,488.85
Ultimate resistance: $6,200
Support 1: $5,000
Support 2: $4,800
The post Bitcoin [BTC] Price Analysis: Bull Market Cut Short – BTC/USD Seeks Balance at $5,000 appeared first on Coingape.
Source: CoinGape

Bitcoin Price & Technical Analysis: BTC Took a Break but May Still Rise

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Bitcoin Price & Technical Analysis: BTC Took a Break but May Still Rise
Bitcoin took a break but may still rise – reports Dmitriy Gurkovskiy, chief analyst at RoboForex.
Bitcoin Price & Technical Analysis: BTC Took a Break but May Still Rise

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Source: CoinSpeaker

Bitcoin Price Analysis: BTC/USD is Targeting $4,742 Price Level

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Bitcoin Price Analysis: BTC/USD is Targeting $4,742 Price Level
Should the Bears increase their momentum and break down the support level of $4,988, then Bitcoin price will continue downtrend movement towards $4,742 level. Should the support level of $4,988 hold, BTC may bounce and face the north.
Bitcoin Price Analysis: BTC/USD is Targeting $4,742 Price Level

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Source: CoinSpeaker

Bitcoin [BTC] Price Analysis: On The Verge of Flash Drop Amid Looming Bear Pressure

Bitcoin risks sliding below $5,200 key level maid growing bearish momentum across the market.
A correction to $5,000 will be a necessary evil that is likely to create more demand.

Bitcoin is sitting above the 61.8% Fib retracement level between the last upswing at $5,352.05 and a downswing of $3,868.19 following the last week’s surge above $5,000. Bitcoin surprise move above the critical $5,200 before coming to halt at $5,352.05. For at least a week now the buyers have been in control maintaining the uptrend above the trendline.
Chart Source: TradingView
Bitcoin failed to sustain the trend above the high formed at $5,352.05. A retracement from the highs was supported at the 61.8% Fib level allowing bulls to regain control. Another breakout made it above $5,200 but turned bearish on touching $5,300. BTC/USD has since the opening session today been trending lower towards $5,200 short-term support.
According to the indicators on the 4-hour chart, the largest asset is on the verge of a flash drop that could spark declines below $5,000. The stochastic is heading south at 55 after it was retracted from the levels above 80.00.
Key Technical Indicators:
Support 1: $5,200
Support 2: $5,200
Support 3: 61.8% Fib level close to $4,750
100 SMA 4-hour: $4,500
200 SMA 4-hour: $4,222.23 (coincides with the 38.2% Fib level).
Resistance 1: $5,300
Resistance 2: $5,352.05.
Stochastic: 55.00 (trending lower)
Prediction: If Bitcoin price slides below the trendline support, a flash drop to areas around $5,000 will follow. At this level, fresh demand will be created as buyers find better buying positions. BTC/USD will spike up again and this time it will be unstoppable towards $5,400.
The post Bitcoin [BTC] Price Analysis: On The Verge of Flash Drop Amid Looming Bear Pressure appeared first on Coingape.
Source: CoinGape

Bitcoin Price Analysis: BTC/USD Expected to Break Up $5,299 Rising Towards $5,574

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Bitcoin Price Analysis: BTC/USD Expected to Break Up $5,299 Rising Towards $5,574
The breakup of strong resistance level of $5,299 by the Bulls with increased momentum will make Bitcoin price to rally towards $5,574 resistance level. Should the Bears defend the level the second time, BTC price may fall.
Bitcoin Price Analysis: BTC/USD Expected to Break Up $5,299 Rising Towards $5,574

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Source: CoinSpeaker

Bitcoin Price Analysis: BTC/USD Could Soon Touch $5,400

The ascending trendline has been a significant support to Bitcoin’s bullish momentum.
BTC/USD is right on the verge of a breakout with the bulls eyeing $5,400.

BTC/USD bull market has entered the second week. In the rally last week, Bitcoin experienced a breakout after zooming above certain key levels at $4,200 and later at $5,200. In spite of the correction from the weekly highs at $5,351 BTC/USD has sustained the bullish bias buy staying above the rising trendline.
BTC/USD short-term outlook: 4-hour chart
Bitcoin Price Analysis chart source: TradingView
The 4-hour chart shows dancing at $5,277 after securing its position above the key breakout level at $5,200. BTC/USD is expected to trend higher while forming higher highs and higher lows to the extent of touch $5,400 during the trading sessions today. There is a steady rise in the Relative Strength Index (RSI). The indicator in the 4-hour timeframe has not below 60, besides it has recovered back into the overbought above 70 at the time of writing.
Another indicator of a continued bullish moment is the gap between the moving averages. Both the 50 SMA and the 100 SMA are still playing catch to the rising price. The 50 SMA above the 100 SMA means that the bulls are still in charge.
In terms of support levels, the trendline has been working as a significant barrier preventing declines. Other support levels are observed at $5,000 former pivotal level, the 61.8% Fib retracement level between the last swing high of $5.351 and a swing low of $3,877.54 roughly at $4,800, the 50 SMA 4-hour, 100 SMA 4-hour, $4,200 and finally $4,000.
Key Technical Levels:
Major support 1: $4,800
Major support 2: $4,000
Resistance 1: $5,300
Resistance 2: $5,351
The 61.8% Fib retracement level
RSI 4-hour: 71.69
50 SMA 4-hour
100 SMA 4-hour
BTC/USD 1-week chart outlook
Bitcoin Price Analysis chart source: TradingView
The weekly chart shows BTC/USD having broken past the trendline resistance. The digital asset has spiked above $5,200 and dancing at $5,280.  BTC/USD is right on the verge of a breakout with the bulls eyeing $5,400. Meanwhile, the 50 SMA weekly is limiting gains currently at $5,612.06 and the 100 SMA currently at $6,344.43. The long-term outlook for Bitcoin is also bullish bias with further correction upside expected throughout this week.
The post Bitcoin Price Analysis: BTC/USD Could Soon Touch $5,400 appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Price Analysis: BTC/USD Defends $5,000 Support as Consolidation Kicks In

Bitcoin sustains an uptrend above $5,000 despite the retracement from the weekly high at $5,350.
BTC/USD must correct above the median of Andrew’s Pitch for further movement above $5,200.

BTC/USD is seen trading above the trendline after the buyers reclaimed the support above $5,000. Both the 50 SMA and the 100 SMA 4-hour are still playing catch up following the surge on Tuesday and Wednesday this week. The break above $5,200 ignited further correction to the 201 high around $5,350.11 (on Coinbase).
According to the 4-hour chart, the price is trending sideways at $5,019 slightly below the median level of Andrew’s Pitchfork. Following the retracement from the weekly highs, BTC/USD has lost momentum to correct above the medium of the indicator.
Chart Source: TradingView
BTC/USD short-term bullish bias
The RSI 4-hour is currently ranging at 64. He indicator retread from the overbought levels around 90.00. The trend shows that the surge has fizzled out and we can expect ETH/USD to trade sideways above the key level at $5,000.
The Simple Moving Average gap between the 50 SMA and the 100 SMA 4-hour, however, shows that the bulls are in control. The 50 SMA above the longer-term 100 SMA means that the bulls continue to gain traction in spite of the retracement.
Also Read: Ethereum [ETH] Price Analysis: ETH/USD Waiting for Bitcoin’s Breakout Above $5,200
The MACD gives a much clearer picture of the trend. The indicator recently stepped the 200 level and formed a high at 257. At press time there has been a correction below 200 and the MACD signal is trending lower at $135.21.
Both the RSI and the MACD shoe that the potential to keep the price above $5,000. However, correction towards $5,200 (breakout point) will be an uphill task.
Key Technical Levels:
RSI 4-hour: 64.00
MACD: +135.21
50 SMA 4-hour: $4,532.78
100 SMA 4-hour: $4,245.60
Support 1: $5,000
Support 2: 4,800
Main support: $4,200
Resistance 1: $5,067.85
Resistance 2: $5,200
Resistance 3: $5,350
The post Bitcoin [BTC] Price Analysis: BTC/USD Defends $5,000 Support as Consolidation Kicks In appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Price Analysis: Breakout Impends Amid Extremely Overbought Conditions

BTC/USD is trading at $4,952 but all eyes are set on reclaiming the support at $5,000.
Bitcoin’s medium-term and long-term outlook remain strongly positive.

BTC/USD recently embarked on an incredible journey of breaking barriers above towards $5,400. The 4-hour chart shows the uptrend was supported slightly above $4,000 by both 50 SMA and the 100 SMA. On breaking above $23.6% Fib retracement level with the last upswing at $5,338.27 and a swing low of $3,865.24, BTC/USD sprung up an engulfing candlestick. A struggle encountered at the 61.8% Fibonacci level allowed the bulls to form an uptrend and push for correction above $5,000 and eventually hit highs around $5,338.27.
Chart Source: TradingView
The retracement from the weekly high has been supported by the 61.8% Fib retracement level (key support) slightly below $4,800. At present, there is a growing bullish momentum above the short-term trendline. BTC/USD is trading at $4,952 but all eyes are set on reclaiming the support at $5,000. The short-term bullish bias is also supported by the RSI 4-hour. The indicator has reversed the slope upwards from 59.23 to the current 68.58. It is only a matter of time before it breaches its way into the overbought in turn giving the buyers confidence to increase their positions. Moreover, another bullish indicator is the widening gap between the 50 SMA and the 100 SMA.
Also Read: Crypto Market Review: Bitcoin Adds $17.5 Billion Dollars As Bull Run Soothes on Day 2
BTC/USD Weekly Chart Outlook
Chart Source: TradingView
In spite of the correction, Bitcoin’s medium-term and long-term outlook remain strongly positive. The weekly range shows the price bullish above the descending trendline resistance. The next target has been set on $6,000 but first, the buyers must clear the resistance at the 50 SMA. In addition to that, Bitcoin is still supported within a core range between $3,189.94 and $6,000. The RSI 1-week is also trending steadily upwards to showing that the trending is favoring the buyers. Bitcoin is likely to regain its position above $5,000 and correct higher towards the weekly high at $5,338.27.
Key Technical Levels
Support 1: 61.8% Fib level 4-hour
Support 2: $4,700
Trend: Short-Term-Bullish, Long-Term- Bullish
Resistance 1: $,5000
Resistance 2: $5,200
Resistance 3: $5,343.27
50 SMA 4-hour: $4,400
100 SMA 4-hour: $4,200
50 SMA weekly: 5,703.73
100 SMA weekly: $6,338.29
RSI (21) weekly: 50.00
RSI (21) 4-hour: 68.58
The post Bitcoin [BTC] Price Analysis: Breakout Impends Amid Extremely Overbought Conditions appeared first on Coingape.
Source: CoinGape

Bitcoin Price & Technical Analysis: BTC Rallying. By Chance or not by Chance: That Is the Question

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Bitcoin Price & Technical Analysis: BTC Rallying. By Chance or not by Chance: That Is the Question
The BTC is still going up on Apr 4, currently trading at around $5,020.50.
Bitcoin Price & Technical Analysis: BTC Rallying. By Chance or not by Chance: That Is the Question

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Source: CoinSpeaker