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

Coinspeaker
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

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Price above $3,000 is Good News for Bulls: Analyst

Bitcoin price above $3,000 is good news for bulls, according to Crypto Michael.
The full-time trader and cryptocurrency commentator said bitcoin scaling between $3,000 and $5,000 was bullish, adding that a drop below $3,000 would result in an equally strong bullish makeover.
“The future perspectives of BTC are brilliant, and we’ll laugh about $5,000 in some years,” Michael predicted.

Reminder to everyone whose not trading.
Scaling in between $3,000 and $5,000 is very good. Lower than $3,000? Fine, use some to buy some.
The future perspectives of $BTC are brilliant and we’ll laugh about $5,000 in some years.
Never stress, patience & calmth. #TRADING
— Crypto Michaël (@CryptoMichNL) April 11, 2019

The $1,000-Bitcoin Prediction
The comments followed a $1,000 bottom target set by Tyler Jenks, the president of Lucid Investments, in the aftermath of April 11 bearish correction. The bitcoin price plunged from $5,471 to $4,975 on the day and formed a fresh lower low towards $4,911 this Friday. Jenks tweeted shortly after the drop that bitcoin was going to correct towards $4,000 and any failure to hold the level as support would extend bitcoin’s downtrend to as low as $1,000.
“I have not commented on Bitcoin since we broke up through the $4,000-4,200 resistance zone,” said Jenks. “I believe we are headed back down to that zone and it will not hold. New low [are] coming. [The] target of $1,000 unchanged.”
Jenks was not the first analyst to have predicted a bearish outcome. Data researchers at Bloomberg had earlier said that bitcoin would fall towards $1,500. The prediction came following bitcoin’s failed attempts to break a strict resistance area above $4,187. However, the asset broke out of it on April 2 in a surprising 23-percent jump.
But based on bitcoin’s yearly performance, it was still down 72.64 percent from its historical high.
Why is $3000-$5000 Range Bullish?
Bitcoin’s So-Called Bullish Range | Source: TradingView.com
The 2018’s most extended bearish phase brought every high capital cryptocurrency to its yearly low. For bitcoin, the low was $3,100. The area above the said level saw multiple downside breakout attempts since December 15. But each of them failed. On the contrary, every bearish effort met with a robust bullish response. The bitcoin price rebounded from $3,100 many times, as a result.
At the same time, each price action to the upside met with an equally strong resistance area – as explained above. Nevertheless, bulls were able to break above it on April 2. The trend needle shifted to the buy side of the market after that.
What the market is seeing now is bitcoin correcting lower from its overbought areas. The asset was trading at $5,086 during Friday’s trading session. It formed a lower high towards $5,109, without accompanying larger volumes. That explained traders’ cautious behavior around a potential support level at $5,000. Dipping below it will prompt bitcoin to support crucial support levels near 50-Day MA, 200-Day MA, and an ascending trendline forming since December 15 last year.
If price fails to bounce back from either of those support levels, then $3,000 will serve as the last resort. Bitcoin will test it and form a double bottom scenario. It would be a signal to reverse the momentum – a potential bullish action.
The post Bitcoin Price above $3,000 is Good News for Bulls: Analyst appeared first on NewsBTC.
Source: New feedNewsBTC.com

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

Coinspeaker
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

Continue reading at Coinspeaker
Source: CoinSpeaker

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

Coinspeaker
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

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Price Bounced Above $5400 Despite FUD Around China’s Mining Ban

Coinspeaker
Bitcoin Price Bounced Above $5400 Despite FUD Around China’s Mining Ban
Bitcoin investors remain undeterred with the latest news of China’s mining ban as Bitcoin price continues to confidently surge northwards.
Bitcoin Price Bounced Above $5400 Despite FUD Around China’s Mining Ban

Continue reading at Coinspeaker
Source: CoinSpeaker

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

Coinspeaker
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

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Surpasses $5200 as Cryptocurrency Market Cap Touches $185 Billion

Coinspeaker
Bitcoin Surpasses $5200 as Cryptocurrency Market Cap Touches $185 Billion
Bitcoin seems to be cementing its position above $5000 levels while preparing for the next big bull run.
Bitcoin Surpasses $5200 as Cryptocurrency Market Cap Touches $185 Billion

Continue reading at Coinspeaker
Source: CoinSpeaker

Here’s Why The Next Bitcoin Accumulation is Around the Corner

After a minor hiccup, the bitcoin price is looking to resume its rally with a 3.37-percent surge this Sunday.
The BTC/USD instrument was trading at $5,179, according to price average calculated by CoinMarket.com at 0910 UTC. Earlier on Friday, the pair had corrected lower to test $4,849 as potential support. The area saw buying orders outrunning the selling ones, indicating that a majority of investors were in no mood to exit the bitcoin rally on an interim session profit. On the contrary, they were speculating on an extended bull run – just like the one that took place on April 2 and 3.
Bitcoin Acculumation Period Near
Josh Rager, a cryptocurrency analyst with close to 29.4k followers, said the bitcoin price was going to trend as high as $150,000 by the end of July 2023. The trader studied the cryptocurrency’s earlier peak cycles, formed between 2014 and 2017 and each testing a new higher high. He later applied time-and-gains economics to predict the next potential peak, which resulted in $150,000.
Bitcoin Price Projections | Source: Josh Rager
Rager also defined levels that bitcoin would need to break to establish a long-term bullish momentum. It would, of course, happen when traders would feel comfortable in accumulating bitcoins upon a particular stage. Rager identified such buying sentiments by using two metrics: the 100-weekly moving average and the 200-weekly moving average. He stated:

“[In the] previous bear market, Bitcoin accumulated under the 100 MA & supported by the 200 MA. Similar accumulation could happen with 200 MA with the next uptrend starting after breaking above 100 MA. One possible scenario to observe [the] next few months.”

$BTC Accumulation W Chart
Previous bear market Bitcoin accumulated under the 100 MA & supported by the 200 MA
Similar accumulation could happen with 200 MA (wick below) with the next uptrend starting after breaking above 100 MA
One possible scenario to observe next few months pic.twitter.com/BHZ3YN6kHZ
— Josh Rager (@Josh_Rager) April 6, 2019

A Sharp Pullback
Rager’s comments followed when the bitcoin price had already jumped its 100-weekly moving average resistance. On the whole, the market appeared inclined towards $6,000 as their near-term target. Before the Bitcoin Cash hard fork spoiled the party, the bitcoin price was comfortably trending above the said level – and was even called the bottom by many crypto bigwigs, including Fundstrat’s Thomas Lee and Galaxy Digital’s Mike Novogratz.
It became likely for bitcoin bulls to reclaim $6,000 to reinject confidence in the market. At the same time, a mere rejection at the said level held power to push bitcoin back below where it is trading at press time.

Twitterati Crypto Michaël, a full-time trader at Amsterdam Stock Exchange, said bitcoin upside could face rejection in the near-term, leading to a drop. However, he supported Rager’s bullish views in the long-term, just differing with him when it came to the point of accumulation.
“Up to $6,000 to touch resistance briefly and then back down for new support (probably $4,200 – that’s why I don’t expect $4,200 to be tested now) and then this is most likely same yeah.”
The post Here’s Why The Next Bitcoin Accumulation is Around the Corner appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price Plunge Incoming If Bulls Don’t Follow Through With Volume

This week, Bitcoin price rallied from the previous 2019 high of $4,200 to the first higher high of the bear market at over $5,000. While there is much speculation across the crypto community as to what sparked the massive rally, most conclude that the powerful upward movement was the result of one major player buying over 20,000 in BTC across three different exchanges.
Because the market was moved by one large whale, one analyst warns that if buyers don’t step in and follow through with substantial volume, Bitcoin price is at risk for a significant drop.
Recent Bitcoin Price Rally In Danger Of Drop If Buyers Don’t Capitalize
The entire crypto community is in an uproar over the latest Bitcoin rally, as it is the first higher high set since Bitcoin last touched its all-time high price of $20,000 per BTC back in December 2017. Since then, the leading crypto asset has ping-ponged between support and resistance, diminishing the asset’s value down to a 2018 low of $3,150.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally
That low, is increasingly looking to be the elusive Bitcoin bear market bottom, which can only can be concluded in hindsight. But this recent rally has taken Bitcoin well out of the previous trading range between $4,200 and $3,200, topping out at around $5,150.
Because the crypto consensus at large is convinced that the entire movement was the result of one whale buying a large amount of BTC, one exceedingly bearish analyst (short-term) who has been calling for Bitcoin to set new lows, warns that a drop is incoming if buyers don’t follow through with volume.

If this was one buyer spiking the price, I want to see follow through with continued volume for Bitcoin
At this time, don't care about total marketcap with the garbage coins included$BTC makes up over 50% the cap
Lack of follow through in the coming weeks mean potential drop pic.twitter.com/WQa5dy5Tid
— Josh Rager (@Josh_Rager) April 2, 2019

Volume in markets is typically an indicator that confirms the strength of a trend. If a massive candle appears with low volume, chances are, the move is a fake out designed to hit stops and trap traders in bad positions. However, it a move up or down is accompanied by substantial trading volume, the direction is typically confirmed to be a legitimate market movement.
Related Reading | From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today
Take the drop from $6,000 into the $3,000 range that occurred back in November 2018 for example, when the bear market really ramped up in severity. The panic-induced plummet through $6,000 and continued bearish trend was confirmed by a significant increase in sell volume following the drop.
The inverse will need to happen following this most recent rally for buyers to confirm there is bullish momentum to support a trend change, and resume a cryptocurrency bull market. During the move, Bitcoin volumes on Coinbase topped over 40,000 BTC, so the trend is already off to a good start. However, it’ll need to continue to remain strong while Bitcoin price consolidates above around the recent higher high, before the market can continue upward with confidence.
Featured Image by Shutterstock
The post Bitcoin Price Plunge Incoming If Bulls Don’t Follow Through With Volume appeared first on NewsBTC.
Source: New feedNewsBTC.com

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

Coinspeaker
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

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Price Surged More In 1 Hour Than Last Two Months Combined

Bitcoin is no stranger to powerful price movements, at times growing or declining in value by 20% to 50% intraday. As the bear market raged on, however, there has been a distinct lack of large green candles representing substantial Bitcoin price increases.
But that all changed this week when Bitcoin rallied, pushing the price of the leading crypto by market cap through resistance at $4,200 to over $5,000, setting the first higher high since its parabolic advance was broken back in December 2017. The violent rally took Bitcoin price higher in value in just one hour, than the prior two months of uptrend combined.
Bitcoin’s April Rally Makes Fool of February and March Uptrend
Prior to the current uptrend that began in early February, Bitcoin had closed a record six consecutive monthly red candles in a row. When both February and March closed in green, bulls rejoiced. However, the most recent Bitcoin rally easily bested both months in terms of value risen in just a one-hour candle, than the prior two entire months combined.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally 
The uptrend began on February 7, when the leading cryptocurrency by market cap had neared support at the 200-week moving average, causing a strong bounce that many traders had been expecting. What they didn’t expect, is for the uptrend to continue over the next two months, taking Bitcoin out of the current trading range and above $5,000 for the first time in 2019.
During February, the price rose from a low of $3,350 to a February monthly candle close at around $3,800. In March, the price rose from the February close, slowly, until it touched the previous high at around $4,150 at the close of March. The entire move from early February through the end of March, brought the price of Bitcoin up by $800 in total.

pic.twitter.com/ATav8NtkfE
— lowstrife (@lowstrife) April 3, 2019

Yesterday’s rally candle, however, rose from $4,150, before topping out around $5,100, representing an approximately $950 gain in the opening days of April. The total rise in the one hour window grew $150 more than the previous two months combined, or a total of 59 days.
Related Reading | From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today 
April has historically had some of the largest green candles across the cryptocurrency’s price charts, with last April playing host to the massive “short squeeze” that took the price of Bitcoin from $6,700 to over $8,000 in a single move. That rally, was swatted down by bears back to lows, however, this current rally comes as the 2018-2019 bear market winds down, and sellers begin to lose momentum.
Should Bitcoin continue to climb from here, the crypto community will become increasingly confident that the bottom is in, and the next bull run is near.
Featured Image from Shutterstock
The post Bitcoin Price Surged More In 1 Hour Than Last Two Months Combined appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price Analysis: BTC/USD Price Rises Towards $5,299

Coinspeaker
Bitcoin Price Analysis: BTC/USD Price Rises Towards $5,299
The Bulls may still push Bitcoin price up towards $5,299 in case the Bulls sustain its momentum, though pullback is inevitable.
Bitcoin Price Analysis: BTC/USD Price Rises Towards $5,299

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin Price Surpasses $5,000, as Crypto Market Capitalization Hits $171 Billion

Coinspeaker
Bitcoin Price Surpasses $5,000, as Crypto Market Capitalization Hits $171 Billion
For the second consecutive day, Bitcoin price and the overall crypto market continues to march ahead with massive trading volumes.
Bitcoin Price Surpasses $5,000, as Crypto Market Capitalization Hits $171 Billion

Continue reading at Coinspeaker
Source: CoinSpeaker