Topic: Bitcoin Price Analysis: BTC/USD Bulls Keep Charging to Upside Targets (Read 758 times)

Lol, its same even with fundamental analysis, you will news that will carry good news about bitcoin, while one will carry otherwise, and they keep tossing us everywhere. I got an expert opinion when bitcoin was $6000, he advise me technically that within few weeks, bitcoin will do a correction if $4800, I backed out from further investing, hoping for the dump, till now, no sign of bitcoin dumping that hard.

I think it’s just better to learn to follow our own opinion alone, since we already believe in the potential of bitcoin, we just buy, hold and wait till it gets to a very high price, even if it is not now and has to be future, after all, investment is meant for the future.

My problem with all these technical analysis of a thing is that they never say the same thing, you will see some of them saying that there is going to be a Bull run and you will see some of them saying that it is going to be the opposite, and worst of it all is that they are all claiming to be experts, then who the heck is someone going to believe? Well, I think that you're the one who is correct, there is going to be a Bull run for sure because judging from when you posted this here, March 28th, the price has gone from that rate of $4000 to $8000 and that's double of the price we had then. It is still showing signs that there is going to be further increase.

Bitcoin (BTC) Price Primed To Break $8.5K, Dips Remain Supported

https://www.newsbtc.com/wp-content/uploads/2019/05/Bitcoin-15.png


Bitcoin price started a downside correction after trading close to $8,350 against the US Dollar.
The price declined below the $8,000 support and tested the $7,600-7,630 support area.
There is a short term bearish trend line forming with resistance near $8,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could retest the $7,600 support area before it could start a fresh increase above $8,200.
Bitcoin price corrected lower recently below $8,000 against the US Dollar. However, BTC remains well bid above $7,600 and it is likely to climb back above $8,200 and $8,300.

Bitcoin Price Analysis

Yesterday, we saw an extended rally in bitcoin price above the $8,000 barrier against the US Dollar. The BTC/USD pair broke the $8,200 and $8,300 resistance levels. It traded close to the $8,340 level and a new 2019 high was formed at $8,338. Later, the price started a downside correction below the $8,200 support, but remained well above the 100 hourly simple moving average. The price declined below the $8,000 support level and traded close to the key $7,600 support area. A swing low was formed at $7,631 and the price recovered recently above $8,000.

There was a break above the 50% Fib retracement level of the recent decline from the $8,338 high to $7,631 low. However, the price seems to be facing a strong resistance near $8,150. The 61.8% Fib retracement level of the recent decline from the $8,338 high to $7,631 low is also preventing an upside break. Moreover, there is a short term bearish trend line forming with resistance near $8,100 on the hourly chart of the BTC/USD pair. Therefore, the pair needs to clear the trend line and $8,150 to start a fresh increase.

On the upside, an immediate resistance above $8,150 is at $8,220. The next key resistance is near the $8,340 level, above which the price could test the $8,500 level. The 1.236 Fib extension level of the recent decline from the $8,338 high to $7,631 low is also near the $8,505 level.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is currently consolidating above the $8,000 level. In the short term, there could be another drop towards $7,850 or even $7,630. However, there are many support on the downside near the $7,580 and $7,600 levels. Besides, this week’s followed important bullish trend line is intact with support at $7,580. As long as the price is above the trend line support, it is likely to break $8,150 and $8,340.

Technical indicators:

Hourly MACD – The MACD is likely to move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently flat above the 50 level.
Major Support Levels – $7,850 followed by $7,630 
Major Resistance Levels – $8,100, $8,150 and $8,340 

Bitcoin (BTC) Price Forecast Remains Bullish: Bulls Target $8.5K and $9K

https://www.newsbtc.com/wp-content/uploads/2019/05/Bitcoin-14.png

Bitcoin price surged more than 10% and broke the key $8,000 barrier against the US Dollar.
The price traded to a new 2019 high close to $8,180 and remains in a strong uptrend.
There is a short term bullish pattern forming with resistance near $8,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could rally further towards $8,500 once it breaks $8,050 and $8,100.
Bitcoin price rallied significantly and broke $8,000 against the US Dollar. BTC bulls remain in full control and they are likely to target the $8,500 level in the coming sessions.

Bitcoin Price Analysis

There was no stopping bitcoin after it broke the $7,500 resistance level against the US Dollar. The BTC/USD pair started a fresh rally after forming a swing low at $6,995. It broke the $7,200 and $7,500 resistance levels, plus remained well above the 100 hourly simple moving average. Finally, the bulls were able to clear the last swing high near $7,580 and pushed the price towards the $8,000 barrier. There was a clear break above the $8,000 barrier and the price posted a new 2019 high close to $8,180.

Recently, there was a sharp downside correction below $7,850 and the 23.6% Fib retracement level of the upward move from $6,995 low to $8,172 high. The price even dipped below the $7,800 level. However, the $7,600 level acted as a strong support. Besides, the 50% Fib retracement level of the upward move from $6,995 low to $8,172 high acted as a support. The price is now back above $7,800 and $7,950. Moreover, there is a short term bullish pattern forming with resistance near $8,050 on the hourly chart of the BTC/USD pair.

The pair seems to be ready to clear the triangle resistance at $8,050 and trade towards the $8,172 swing high. Additionally, there are high chances of a break above the $8,200 and $8,320 resistance levels. The next stop for the bulls could be $8,500.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is likely setting up for more gains above the $8,050 and $8,150 levels. Conversely, if there is a downside correction, the price may find buyers near the $7,950 and $7,840 levels. The main support for the current wave is near $7,580 (the recent breakout level). The overall price action is super bullish, with technical indicators pointing a run towards $8,500 or even $9,000.

Technical indicators:

Hourly MACD – The MACD is sighting a fresh increase in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 55 and 60 levels.
Major Support Levels – $7,950 followed by $7,840.
Major Resistance Levels – $8,050, $8,170 and $8,320

Bitcoin (BTC) Price Defies Gravity With Upsurge, Bulls Aiming $6.5K

https://www.newsbtc.com/wp-content/uploads/2019/05/Bitcoin-10.png

Bitcoin price was unfazed and it recently broke the $6,200 resistance level against the US Dollar.
The price even broke the $6,300 level and it seems like the bulls are now aiming $6,500.
There is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could find a strong buying interest if it corrects lower towards $6,100 or $6,000.
Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. BTC remains in a strong uptrend and it seems like the bulls are now aiming a test of $6,400 or even $6,500.

Bitcoin Price Analysis

This week, bitcoin price overcame all hurdles and rallied above $6,000 and $6,200 against the US Dollar. The BTC/USD pair gained bullish momentum after it settled above $6,100 and the 100 hourly simple moving average. Recently, it broke a bullish flag pattern with resistance near $6,040 on the hourly chart to start a strong upward move. As a result, the bulls pushed the price above the $6,250 and $6,300 resistance levels. A new 2019 high was formed at $6,315 and the price is likely to extend gains.

An initial support is near the $6,230 level, and the 23.6% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. If there is a downside extension, the next key support could be $6,140. It represents the 50% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. More importantly, there is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC/USD pair. Moreover, the previous resistance area near $6,050 is likely to act as a strong buy zone if the price corrects lower.

Besides, the price is now well above the $6,000 pivot level and the bullish 100 hourly SMA. Therefore, there are chances of more upsides above the $6,300 and $6,350 levels. The next main hurdle is near the $6,400 level, above which the price could rally towards the $6,500 level.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is gaining bullish momentum above $6,200 and $6,300, with no major bearish sign. In the short term, there could be a few bearish moves, but dips remain supported near the $6,200 and $6,100 levels. Only a daily close below $6,000 and the 100 hourly SMA could start a substantial downside correction.

Technical indicators:

Hourly MACD – The MACD is currently placed heavily in the bullish zone, with positive signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting lower in the overbought zone.
Major Support Levels – $6,200 followed by $6,140.
Major Resistance Levels – $6,300, $6,400 and $6,500. 

right now there seems to be a strong resistance around $6000 as we are having a difficult time breaching it. The highest price I've seen is around $5990 and then a minor pullback to $5950 then the price will go on $5960-$5970. But still a good indication that we are in the bullish cycle right now. So let's see if we can break $6000 and go for the upside around $6100 or it will it just over $6000 before another pullback.

Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

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Bitcoin price rallied another 4% and climbed above $5,850 against the US Dollar.
The price is surging higher, but there are many hurdles near $6,000, $6,070 and $6,100.
There was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair (data feed from Kraken).
The pair could spike above $6,000 or even towards $6,800 before correcting lower sharply.
Bitcoin price is surging higher towards $6,000 against the US Dollar. BTC could extend gains, but it is facing two important hurdles near $6,100 and $6,800 on the daily chart.

Bitcoin Price Analysis

In the past few days, there was a steady rise in bitcoin price from the $4,000 swing low against the US Dollar. The BTC/USD pair broke the $4,400 and $4,700 resistance levels to start a strong upward move. There was even a close above the $4,200 resistance and the 100-day simple moving average. The bulls pushed the price above the 50% Fib retracement level of the last major decline from the $6,562 high to $3,115 low.

More importantly, there was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair. Recently, the pair broke the $5,250 and $5,500 resistance levels to extend gains. It is now trading well above the 76.4% Fib retracement level of the last major decline from the $6,562 high to $3,115 low. These all are positive signs, suggesting more gains above the $5,900 level. However, there are many hurdles on the upside near the $6,000, $6,070 and $6,100 levels. The $6,070 level was the previous breakdown support and it may now prevent gains.

If there is an upside break above $6,100, there could be an upside extension towards the $6,532 swing high. The main resistance above $6,500 is near the $6,800 level, the main pivot zone of Oct 2018. Therefore, there are chances of a strong bearish reaction from $6,100, $6,500 or $6,800 in the coming days.

[/b]Bitcoin Price Analysis BTC Chart[/b]

Looking at the chart, bitcoin price seems to be gaining pace above the $5,500 and $5,600 levels. Having said that, the bulls are likely to face a strong offer zone near $6,000, $6,070 and $6,100. If there is a successful close above $6,100, the price may climb higher towards $6,500 or even $6,800 before starting a substantial downside correction. On the downside, there are many supports near $5,540, $5,450 and $5,250. Below these, the price may revisit $5,000.

Technical indicators:

Daily MACD – The MACD is gaining bullish momentum with many positive signs.
Daily RSI (Relative Strength Index) – The RSI for BTC/USD climbed above the 70 level and it seems to be heading towards the 80 level.
Monthly Support Levels – $5,450 followed by $5,250. 
Monthly Resistance Levels – $6,070, $6,500 and $6,800. 

as for me 5400 is more likely

Bitcoin (BTC) Price Flirting With Key Support: Fresh Rise Likely

https://www.newsbtc.com/wp-content/uploads/2019/05/Bitcoin-6.png

Bitcoin price corrected lower recently after trading above the $5,800 level against the US Dollar.
The price declined below the $5,700 level and tested an important support near $5,580.
There is a key bullish trend line forming with support near $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to bounce back above $5,700 as long as it is above $5,600 and $5,540.
Bitcoin price remains well supported on the downside above $5,500 against the US Dollar. BTC could start a fresh rise if it clears the $5,700 and $5,780 resistance levels.

Bitcoin Price Analysis

This past week, we saw a strong rise in bitcoin price above the $5,700 resistance against the US Dollar. The BTC/USD pair even broke the $5,800 level and settled well above the 100 hourly simple moving average. The price traded to a new 2019 at $5,837 and recently started a downside correction. It traded below the $5,700 support and the $5,650 pivot level. However, the price remained well bid above the $5,540 and $5,580 support levels.

More importantly, the price is holding the 100 hourly simple moving average and is currently above $5,600. There is also a key bullish trend line forming with support near $5,600 on the hourly chart of the BTC/USD pair. An immediate resistance is near $5,685, and the 50% Fib retracement level of the recent decline from the $5,782 high to $5,584 low. However, the main resistance is near the $5,760 level and a connecting bearish trend line on the same chart. A successful close above $5,760 and $5,780 might push the price above the $5,800 and $5,850 levels.

On the downside, the main support is near the $5,600 level and the 100 hourly SMA. Below $5,600, the next key support is near the $5,540 level, where the bulls may emerge. If there is a downside break below $5,540, the price may revisit the last line of defense near $5,420. Any further losses may push the price in a short term bearish zone towards $5,200 or $5,100.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is currently trading above important support near $5,600 and $5,580. Therefore, there are high chances of a fresh rise above $5,700 and $5,760. If the bulls regain momentum, the price could even trade to a new 2019 high above the $5,850 level in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is currently placed in the bearish zone, with a few negative signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently recovering, but it is still well below the 50 level.
Major Support Levels – $5,600 followed by $5,540.
Major Resistance Levels – $5,680, $5,700 and $5,760.

rose to 6000 faster than I thought. I thought only in June will be so much

Bitcoin (BTC) Price Target Strong Gains: Trend Accurately Bullish

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Bitcoin price is following a steady uptrend and recently broke $5,450 against the US Dollar.
The price surged above $5,580 against the USDT and it is currently near $5,500 vs USD on Kraken.
Yesterday’s two bullish trend lines are intact with support near $5,410 and $5,380 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to accelerate gains above the $5,500 and $5,550 levels in the coming sessions.
Bitcoin price is climbing steadily against the US Dollar, while surging versus USDT. BTC is likely to remain in an uptrend towards the $5,600 and $5,650 resistance levels.

Bitcoin Price Analysis

After forming a strong support near $5,120, bitcoin price started a solid uptrend against the US Dollar. The BTC/USD pair broke the $5,300 and $5,380 resistance levels to enter a bullish zone. There was a positive close above the $5,400 level and the 100 hourly simple moving average. The price extended gains above the $5,450 level recently and traded to a new weekly high at $5,500. The current price action is very positive, signaling more gains above $5,550 and $5,600.

An immediate support is at $5,470, and the 23.6% Fib retracement level of the recent move from the $5,372 low to $5,500 high. However, the main support is near the $5,420 level. An intermediate support is at $5,435, and the 50% Fib retracement level of the recent move from the $5,372 low to $5,500 high. Besides, yesterday’s two bullish trend lines are intact with support near $5,410 and $5,380 on the hourly chart of the BTC/USD pair. Therefore, if there is a downside correction, the price is likely to find bids near $5,430 or $5,400.

On the upside, a clear break above the $5,550 and $5,520 levels is likely to push the price towards the $5,600 level. The next key resistance is at $5,640, above which the price may test the $5,700 barrier.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is clearly trading in a strong uptrend above $5,400. Looking at the USDT pairs, BTC traded towards $5,600 on binance, and above $5,800 on bitfinex. The overall price action is very bullish and it seems like there could be more gains above $5,500 versus USD. In the short term, there could be a downside correction, but dips remain well supported near the $5,400 pivot level. Only a close below $5,280 and the 100 SMA might negate the current bullish view.

Technical indicators:

Hourly MACD – The MACD is gaining strong momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now in the overbought zone.
Major Support Levels – $5,420 followed by $5,400. 
Major Resistance Levels – $5,520, $5,550 and $5,600. 

Bitcoin (BTC) Price Looks Primed For Further Gains

https://www.newsbtc.com/wp-content/uploads/2019/05/Bitcoin-1.png

Bitcoin price traded above the $5,300 resistance and tested $5,360 against the US Dollar.
The price is currently trading with a bullish bias above the $5,280 and $5,250 supports.
There are two bullish trend lines formed with support near $5,320 and $5,280 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair remains supported on dips and it could continue to climb towards the $5,400 and $5,450 levels.
Bitcoin price is slowly grinding higher towards $5,450 against the US Dollar. BTC remains in an uptrend and it is likely to climb towards the $5,500 level in the coming sessions.

Bitcoin Price Analysis

In the past three sessions, there was a steady rise above $5,280 in bitcoin price against the US Dollar. The BTC/USD pair gained traction above the $5,300 resistance and settled above the 100 hourly simple moving average. The price spiked broke the $5,340 level and traded as high as $5,359. Recently, it corrected lower below the $5,320 level, and the 23.6% Fib retracement level of the upward move from the $5,197 swing low to $5,359 high.

The price even traded below the $5,300 level, but the $5,280 support acted as a strong support. Besides, the 50% Fib retracement level of the upward move from the $5,197 swing low to $5,359 high acted as a support. More importantly, there are two bullish trend lines formed with support near $5,320 and $5,280 on the hourly chart of the BTC/USD pair. On the downside, there are many supports near $5,280 and $5,250. If there are extended losses, the price may retest the $5,200 support. The 100 hourly SMA is also close to $5,200 to hold losses.

On the upside, a clear break above the $5,360 level may open the gates for a push towards the $5,400 level. The next key resistance is near the $5,450 level, where sellers may appear. The current price action is positive and, therefore suggests more gains above $5,360. If there is a downside correction, the bulls are likely to protect $5,280 or $5,250.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is showing positive signs above $5,280. There might be a couple of swing moves in the short term, but the price is likely to surpass the $5,360 swing high. As a result, the main stop for the bulls this week could be $5,450 or even $5,500. Conversely, a close below $5,200 and the 100 hourly SMA is likely to negate the current bullish view.

Technical indicators:

Hourly MACD – The MACD is slowly moving back in the bullish zone, with flat signals.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level and testing 60.
Major Support Levels – $5,280 followed by $5,250. 
Major Resistance Levels – $5,360, $5,400 and $5,450. 

From the image, it seems the price wants to break the higher price. I check on poloniex, and I see that the green candle is on the way to raise the higher price so this week, we could hope that the price will increase again and I hope we can break higher price. But the market still too volatile and it's hard to predict with the right price, and we don't know what will happen tomorrow.

Bitcoin (BTC) Price Near Crucial Juncture: Can Bulls Gain Traction?

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Bitcoin price rebounded above $5,100 after a massive drop towards $4,900 against the US Dollar.
The price seems to be facing a strong resistance near the $5,200 and $5,220 levels.
There is a major bearish trend line in place with resistance near $5,230 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could either rally above the $5,250 resistance or start a fresh decline in the near term.
Bitcoin price is facing a significant resistance against the US Dollar. BTC is likely to climb sharply if it settles above $5,250 and the 100 hourly simple moving average.

Bitcoin Price Analysis

This past week, there was a sharp drop in bitcoin price below the $5,200 support against the US Dollar. The BTC/USD pair even spiked below the $5,000 support level and formed a swing low above $4,900. Later, the price started a slow and steady recovery above the $5,000 and $5,050 resistance levels. The bulls even pushed the price above the $5,100 resistance and the 23.6% Fib retracement level of the last slide from the $5,509 high to $4,905 low.

It opened the doors for more gains above the $5,150 level, but the price struggled to clear the $5,200 and $5,220 resistance levels. It seems like the 50% Fib retracement level of the last slide from the $5,509 high to $4,905 low is acting as a hurdle. Besides, the 100 hourly simple moving average is also acting as a key resistance near $5,220. More importantly, there is a major bearish trend line forming with resistance near $5,230 on the hourly chart of the BTC/USD pair.

Therefore, the price must break the $5,220 resistance, the trend line, and the 100 hourly SMA. A successful close above $5,250 is likely to start a decent upward move towards the $5,300 level. The next major resistance for the bulls is near the $5,380 level. On the other hand, if there is no upside break, the price may decline below $5,150. An initial support is near the $5,100 level, below which the next stop could be $5,050.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is clearly trading near a crucial juncture below $5,220 and $5,250. If the bulls gain control above $5,220 and $5,250, there could be a decent extension towards the $5,380 resistance level. Conversely, a continuous struggle to clear $5,250 is likely to start a fresh decrease towards the $5,100 or $5,050 level in the near term.

Technical indicators:

Hourly MACD – The MACD is slowly moving in the bullish zone, with a few positive signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD managed to move back above the 50 level.
Major Support Levels – $5,150 followed by $5,100. 
Major Resistance Levels – $5,200, $5,220 and $5,250. 

I think growth will continue

Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?

https://www.newsbtc.com/wp-content/uploads/2019/04/Bitcoin-28.png

There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar.
The price even spiked below the $5,000 support level and it is currently consolidating above $5,100.
There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could bounce back as long as there is no weekly close below the $5,000 support level.
Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way.

Bitcoin Price Weekly Analysis (BTC)

This past week, there was a significant rejection in bitcoin price near the $5,660 level against the US Dollar. The BTC/USD pair started a strong downward move below $5,400 after tether’s drama. The price tumbled below the key $5,280 and $5,200 support levels. There was even a spike below $5,000, plus a close below the 100 simple moving average (4-hours). A swing low was formed near the $4,910 level and recently the price recovered above $5,000 and $5,050.

At the moment, the price is testing the 50% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low. However, the $5,220 area and the 100 simple moving average (4-hours) are acting as hurdles. Above $5,220, there is a major resistance near $5,280 and a connecting bearish trend line. The 61.8% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low is also near the $5,280 level. A successful close above the $5,280 level might trigger a decent recovery in the near term.

On the downside, there is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair. The trend line support near $5,080 is very important, below which the price could test $5,000. If there is a daily close below $5,000, the price is likely to move further into a bearish zone. In the mentioned case, the price will most likely test $4,800 or $4,750.

Bitcoin Price Weekly Analysis (BTC)

Looking at the chart, bitcoin price faced a strong selling interest below $5,400. However, it managed to stay above the $5,000 support. Therefore, there are chances of a recovery above the $5,280 resistance levels. If there is a close above $5,280, there are chances of move towards $5,400 or even $5,500.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slowly moving into the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is back above the 40 level, with a few positive signs.
Major Support Level – $5,050 
Major Resistance Level – $5,280 

Easy to guess the next direction of the market, what is difficult is having a plan regardless of where it goes. Remember most of the "analysts" do not dictate whether they are trading or investing, they just blast out there buy, sell, I crushed it. Having no Plan is simply Having a Plan to Fail. If you are following "that guy", what is your plan if he is wrong?

[/quote]

Thanks a lot for explanation

Bitcoin (BTC) Price Hesitates But More Upsides Seem Likely

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There was a slow and steady rise in bitcoin after it tested the $4,920 area against the US Dollar.
The price climbed higher steadily and broke the $5,200 resistance area to move into a positive zone.
There is a key ascending channel in place with support at $5,270 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could dip in the short term, but buyers are likely to buy heavily near $5,270 or $5,250.
Bitcoin price is showing positive signs above the $5,200 pivot level against the US Dollar. BTC could accelerate higher once it clears the $5,400 resistance area in the near term.

Bitcoin Price Weekly Analysis (BTC)

This past week, there was a downside extension below the $5,000 level in bitcoin price against the US Dollar. The BTC/USD pair traded below the $4,950 level before buyers took a stand above the $4,920 level. A swing low was formed at $4,922 and later the price started consolidating in a range. Finally, there was a fresh increase above the $5,160 resistance and the 100 simple moving average (4-hours). The price broke the $5,200 level and the 50% Fib retracement level of the last slide from the $5,462 high to $4,922 low.

The recent upward move was positive since there was a close above the $5,200 and $5,250 levels. However, the price seems to be struggling near the $5,350 resistance. There was also no close above the 76.4% Fib retracement level of the last slide from the $5,462 high to $4,922 low. A successful close above the $5,350 level may perhaps open the doors for more upsides above the $5,400 and $5,450 levels. A break above the last high near $5,462 could trigger a strong upward move towards $5,600 or $5,800.

On the downside, there is a decent support formed above $5,270. There is also a key ascending channel in place with support at $5,270 on the 4-hours chart of the BTC/USD pair. If there is a break below the channel support at $5,270, the price could test the $5,160 support level and the 100 simple moving average (4-hours).

Bitcoin Price Weekly Analysis BTC Chart

Looking at the chart, bitcoin price is trading nicely above key supports near $5,200. If there is a short term downside correction, buyers are likely to protect $5,270 or $5,200. Only a daily close below $5,160 could put buyers on the back foot. The next key support is at $5,040, followed by the $4,922 swing low.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slightly placed in a bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is slowly moving lower towards the 50 level.
Major Support Level –  $5,160 
Major Resistance Level – $5,400 

In the end whether Bitcoin pulls back or rallies from here is insignificant. Just like the pessimists in 2004 who were waiting to buy $350 gold again, they waited until..... umm they are still waiting. Why be that guy just waiting? This market is far from Euphoric and there are too many pessimists still calling for 3k or lower! The key is do you have a plan?



Easy to guess the next direction of the market, what is difficult is having a plan regardless of where it goes. Remember most of the "analysts" do not dictate whether they are trading or investing, they just blast out there buy, sell, I crushed it. Having no Plan is simply Having a Plan to Fail. If you are following "that guy", what is your plan if he is wrong?

Someone noticed that the Bitcoin started to move during the weekends, whereas before it was pretty dead. You could buy bitcoin cheaper starting from Friday and it returned at the beginning of the week. Now it does the opposite, increase in weekends and decrease at the beginning of the week.

The dump that hasn't initiated yet can still do so in the coming days or weeks when we make that move to the $6000 mark. Everyone is so bullish, that it makes me question the short term price action we see.

After 15 months of bear market it's quite hard to become excited about the current mini bull run (or whatever you want to call it). As long as we're still trading below $6000 the bear market isn't over for me.

It's going to be interesting to see how the price will react to easter, because the volumes will very likely decline on top of the usual lower weekend volumes, and declining volumes usually translate into declining prices.

the "bullish momentum" has been present not because price didn't go to the price you guesses ($4900) but because of the strong buy support that is behind it otherwise $4900 is not really a significant price level to change anything from the current trend even if it was reached.

I hope so, but unfortunately, we are still on less than $5000, but we will see the price reaching $5000 again. No need to worry if the price cannot increase right now because we have many times to see it will increase. So I think right now is a good time to buy some bitcoin so we could sell when the price can reach more than $5000. The line at the chart still on the sideways mode and I think it's because we are near in the weekend and usually, the new price will come in the next week. Let's wait and see.

Good price action today, we will soon again at $5300 and that's a good start for the next uptrend move.
Bitcoin keeps staying at a good price, after the pump it did not dump hard like what we see in the previous times, I can feel there will be changes soon.
Bullish prediction is right at this moment, we can see $,6000 after many attempts.

Despite the strength the bear is using strongly to pull the price back to $4000 trend, the bulls has also been trying their possible best  to counter there effort and keeping the price above $5000, but we really need a very strong push now from some great investors that will help us break the $5500 barrier and push us to $6000, the best we can do to get investors from our own end, is to continue spreading good and attractive news all over the media till it gets to someone whom it will catch his attention and  bring in more money to the market, whether new investors or the old investors.

I hurried with my forecast ... the bullish momentum is still present

BTC was about 5200, and now for me 4900  is most likely direction

I doubt we'll see the price break through the $6000 level directly. We'll need a good number of attempts to get rid of the selling pressure around that level. If you also take into consideration that we have never gone up this much in a bear market without correcting, it makes a correction even more likely to take place around $6000.

Don't forget that we also have to deal with a lot of potential selling pressure from coins accumulated far below the current levels, and when these investors/traders feel that the momentum is running out of steam, they'll dump. $6000 is a round psychological number, and with the support it offered last year, it's going to be a major hurdle this year.

We'll see what happens, but for now at least, the bullish momentum is still present.

Lol, you mean this very moment or what, because that is the most simple target for bitcoin to reach, I think we have even gone beyond $5200 now even though it seems like we are a little far away from it, I think the next target we should be look at now is $6000, by next week if BTC can break the $5500 resistance.

We will be heading up to $6000 and from $6000, I am sure a lot of FOMO will be created at that point that may increase it further but after which I don’t know how strong the bulls can fight it before it will correct itself, but I am sure by Wednesday, $5200 would have already been achieved .

Having a blockchain system doesn't require you to also have a stable coin of your own. You can have a blockchain system just for data storage and make the transactions cheaper and faster but have no coin behind it at all. That is why it is absurd, never in history of humanity the USA will have a stablecoin for themselves, they already have a sort of "stable coin" of their own with us dollars.

If you look at how much money is used as cash and how much of it is already digital and even non-existent you will see that the stable coin you are looking for is the actual fiat dollar, they will only improve the infrastructure with blockchain but will keep using the fiat currency digitally that is all, which in return wouldn't really affect bitcoin all that much neither.

I think, it will bounce soon to 5200

Bitcoin (BTC) Bulls Take Back Seat, $4,850 Holds The Key

https://www.newsbtc.com/wp-content/uploads/2019/04/Bitcoin-12.png

Bitcoin price started a major downward move after it failed to stay above $5,150 against the US Dollar.
The price declined below the $5,080 and $5,000 support levels to enter a short term bearish trend.
There is a key declining channel in place with resistance at $5,040 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could decline further towards the main support near $4,850, where bulls could take a stand.
Bitcoin price failed to hold the key $5,220 and $5,150 supports against the US Dollar. BTC even dipped below $5,000 and it may continue to slide towards the key $4,850 support area.

Bitcoin Price Analysis

Recently, there was a bearish reaction below the $5,350 support in bitcoin price against the US Dollar. The BTC/USD pair started a major downward move after sellers managed to push the price below the $5,220 and $5,150 support levels. It opened the doors for more losses, with a close below $5,150 and the 100 hourly simple moving average. The price even broke the $5,000 support area and traded close to the $4,920 support area.

A swing low was formed at $4,922 and the price is currently consolidating losses. It tested the 23.6% Fib retracement level of the recent drop from the $5,463 high to $4,922 low. There is also a key declining channel in place with resistance at $5,040 on the hourly chart of the BTC/USD pair. The pair could spike above the $5,040 and $5,050 levels. However, upsides are likely to be contained near the $5,080 and $5,100 levels. The main resistance is near the $5,150 level, above which bitcoin price could test the 50% Fib retracement level of the recent drop from the $5,463 high to $4,922 low.

The current price action is suggesting more losses below the $4,920 support level. The next main support is at $4,850, which was a resistance earlier. Bulls are likely to take a stand near $4,850. If they fail to protect $4,850, the price could test the $4,720 support.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price clearly struggled in the past two sessions and settled below the $5,150 support. In the short term, there could be an upside correction, but upsides are likely to be capped near $5,080 or $5,100. Therefore, there are chances of another downside push below $4,920 before bulls appear near the $4,850 support area.

Technical indicators:

Hourly MACD – The MACD is showing negative signs in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently from 30 and it is currently near the 40 level.
Major Support Levels – $4,920 followed by $4,850.   
Major Resistance Levels – $5,040, $5,080 and $5,150. 

Unfortunately, this is how the financial system in our world works. In the coming decades, it will not change. The adoption of Bitcoin as a currency will not. For the simple reason, the modern financial elite do not control bitcoin as much as they need. I'm talking about people endowed with real power, and not the presence of only relatively large money. 

Absurd or not. Shows time. I only know that at the present time, about 40 central banks of various countries are actively studying and developing in the blockchain area. Why do you want them to do this? If we take the United States, active negotiations are being conducted behind closed doors of the United States Central Bank with Google and Facebook to create a crypto dollar in conjunction with these companies. Together, they will be able to create massive, powerful cryptocurrency.

Because there are limitless - money, marketing, the best programmers and tremendous development experience. Now, why do they need it if they have dollars. Cryptodollar is just an evolution of money. The USA needs it first of all to maintain domination in our world. The central bank is well aware that blokutenom future. In the next decade, countries will completely abandon paper money. I call this the wildest erotic fantasy that governments have been dreaming of over the last 20 years. The tax system in developed countries is ready to implement this plan. Technology also allow. The technology of tax collection as well as the tax code will also change dramatically in the near future.

Regarding the attempts of “Flippening” for ETH and “Rippening” for XRP, yes, they were and I will say more will be more than once. We will see a significant decrease in Bitcoin dominance in less than 2 years.

Considering the good come back this is a slow pace recovery for the price, And I think it is ok for now but I still really think this can never be going into a bull run this year, But for now, it is OK in my part because I really think that there are now people coming back to bitcoin because of this kind of movement so another good start for cryptocurrency and the bearish market is now subsiding but still I am pretty sure there is still resistance up ahead a likely $5500 USD is a common target in this recovery In my opinion.

it was all about the breakout which was needed to pop this Reverse Bubble that we were stuck in for a couple of months. now that it has popped (so to speak) the market is gaining some momentum which is leading to higher and higher prices in each step of the rise. the first one was the hardest and now from $5k to $6k is going to be much easier.

Is a centralized system and decentralized system same, of what use will it be to us to be under a stable coin that is still being controlled by controlled by central bank, well, we don’t expect not to have antagonist of cryptocurrency, probably because you didn’t have the opportunity to invest when it was low and now it has become too expensive for you to purchase, so you will also join people like you in doing their possible best to kill a system that supersede any system the government is coming out with.

The only way that stable coin and dominate Bitcoin is when the government impose it on their citizens, but at freewill? It will be another useless coin.

We will see it later. Who will be the stronger coins, US Central Banks with their stable coins or bitcoin? We will see it on the exchanges. But I am curious about their new stable coins. Maybe you can tell us what the name of that stable coin is.
Everything can happen with bitcoin, so let's wait for the next day.

This is the most absurd statement I have seen so far after the pump.  . Do you think that US Central bank will launch it's own stable coin? They have USD already. 


Did you know that there was even a attempt before? It's called "Flippening" for ETH and "Rippening" for XRP, but it didn't succeed. I advise you to go and research about it more.

Froom LOL I do not expect anything. If they want to make a pamp on the growth of BTC if they do not scam at all.

Bitcoin will not always stand out. When the US Central Bank launches the stable coin, Bitcoin dominance will end.

At the same time, there is a chance to reduce the dominance of Bitcoin. This will require abandoning reserves in BTC of top projects such as ETH, XRP and others in favor of their tokens.

What do you expect from fake and copycat cryptocurrency lol, despite the fact that I hold large portion of some of them, I still have a little beef about them sometimes for making people not really paying more attention to the one and only cryptocurrency king, if all investment were to be in Bitcoin now, do you know how much BTC would have been ?

If we are to talk about breaking its monopoly, why can’t we just have 1 or 2 more coins as alternatives, instead of all these coins that are out and still relying on BTC to function.

Bitcoin will always stand out and I am sorry to say, all other altcoins are just there and may not stand decades, so if anyone wants to trade, they should better trade BTC against USD, at least with that, technical analysis works for you to be able to decide when to make your trades.

I think that we're up for some correction too, though when, I don't know. All indicators are hinting towards more gains for April, but we all know that this would not happen unless we are full-on bullish mode. At this point, most people seemed to be scared of pulling the trigger on large buys and only a handful are chomping down on those sell orders. Idk much, but a correction is definitely waiting in the wild.



This is a different scenario since during those days, CSW is not having fun with the drama and the bashing that he has received from the community, and also the fork wars he have had with Jihan Wu and Roger Ver. We don't have that same drama today, and we don't have an extremely positive news today either so it's hard to expect something big from this rise.

I think there will be a correction soon, this can not go forever unless we are in a huge bull run yet again, if you think bitcoin will reach to 10k+ again and keep on going up and up than the price will be on a steady increase however if you think it will be around here for a while than I think it should also have a correction as well, some people will realize profits and that will drop the price a bit but only a bit, nothing huge, it can stay above that 4700+ price for a long time from what I see.

All indicators show bitcoin going up but do not forget that right before November 15th the price and charts looked like bitcoin going up but than Craig sold a bunch of bitcoins and we have been waiting to go back to pre-November numbers since those days. I would like to be happy and get excited about the prices too but I am also very scared as well.

You are right. Technical analysis in cryptocurrency works poorly. The exception is Bitcoin, and not always. This time I guessed right.

https://www.newsbtc.com/wp-content/uploads/2019/04/Bitcoin-3.png

Bitcoin price settled above the key $5,000 hurdle and tested the $5,240 resistance against the US Dollar.

The price faced a strong selling interest near the main technical barrier at $5,240-5,260.
There is a major connecting bullish trend line formed with support near $4,200 on the daily chart of the BTC/USD pair (data feed from Kraken).
The pair corrected recently, but it is likely to make another breakout attempt above $5,240.
Bitcoin price started a massive bull-run above the $4,500 and $5,000 resistances against the US Dollar. BTC is currently struggling near the $5,240 resistance, but more upsides seems possible.

Bitcoin Price Analysis

In the past two days, we saw a nasty upward move above the $4,500 resistance in bitcoin price against the US Dollar. The BTC/USD pair even climbed above the $5,000 resistance and settled well above the 100-day simple moving average. During the recent rise, there was a break above a couple of important resistances near the $4,000 and $4,200 levels (green area). It opened the doors for a sharp rally above the $4,800 and $5,000 levels.

More importantly, there was a break above the 50% Fib retracement level of the last significant drop from the $6,559 high to $3,122 low. The price settled above the $5,000 resistance area and recently tested the next major hurdle near $5,240-5,260. It represents the previous swing low near $5,250 (red line). Besides, the 61.8% Fib retracement level of the last significant drop from the $6,559 high to $3,122 low is also near the $5,240 level. Therefore, the recent downside correction was from a crucial technical resistance near $5,250.

Having said that, downsides are likely to be limited since there are many supports near $5,000, $4,900 and $4,840. If there is an extended correction, the price could test the $4,600 or $4,550 support. There is also a major connecting bullish trend line formed with support near $4,200 on the daily chart of the BTC/USD pair. The main support is near the previous breakout area near the $4,200 level.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price clearly moved into a strong uptrend above $5,000. It is currently facing a crucial resistance near $5,240, above which there are chances of more upsides towards the $5,500 or $5,750 level. The final stop for buyers could be $6,000 if there is a proper follow through above $5,500. On the downside, buyers are likely to remain active near $4,840 or $4,600 in the near term.

Technical indicators:

Daily MACD – The MACD is placed heavily in the bullish zone.

Daily RSI (Relative Strength Index) – The RSI for BTC/USD climbed above the 80 level and currently flat near 87.

Major Support Levels – $4,840 followed by $4,600.

Major Resistance Levels – $5,250, $5,500 and $5,750. 

All indicators are lagging and that is not the main problem here, at least not for me. I don't use them anyways. What's bothering me more is the provisional manner in which they are used. As you say, they are often adjusted and even drawn after the price has moved to prove a point.


This is a great point and often totally neglected when promoting crypto technical analysis of any kind. Forex is definitely much more regulated and you have a calendar of news events. So, if you like you can choose not to trade until the news event is over. In crypto trading, sudden news and irrational expectations can totally destroy your TA. I guess with maturity, the cryptocurrency market will change and it will resemble the Forex market to a greater extent. This would enable TA to become a more powerful tool for predicting price movements than it currently is.

You are right in the fibo and trend line manipulation. I see them as lagging indicators because you can as well adjust them to what you want depending on your speculation of the market price and direction. Again, unlike forex trade, crypto is hard to be relied on TA for most of the time, even no time frame for news like forex trading where you are giving time schedule for most of the daily news.

Cryptocurrency is indeed difficult to predict its price.

A dump is unlikely. Very high risk of entering a short position. 80/20. I believe that within 3-x days we will surely consolidate above 4250$ for Bitcoin. 

If we saw in last 6 hours chart Bitcoin will move to backward. So pump and dump was happening on last 24 hours chart and this chart was little satisfied because of growth rate is little bit higher than in this day. May be next month we will saw some bull run on crypto market.

This is exactly why I don't believe in trending lines and Fibonacci extension levels any more. Just change the time frame and the analysis is totally different: different trend lines, different Fibonacci lines and, as a result, different conclusions.

And the real question is: "To what extent can we apply technical analysis in a market so prone to sudden moves and fomo like the crypto market is? I don't we can use TA most of the time.

From last 24 hours we can see around 60 USD changed for bitcoin and even some more cryptos also bumped along with the bitcoin. Now total marketcap has settled 143800000000 USD currently. Lets wait and check what will happen in the coming days.


You may find the price analysis of the price changes on this Coindesk news link: https://www.coindesk.com/bitcoin-price-hits-5-week-high-with-chart-echoing-2015-pre-rally-pattern

Thanks for the thread but need more update coming days from you buddy. I believe we will find the growth in the coming days too.

The part that really caught my attention in this article is that part where you said Central Banks are stocking up on digital asset too, I doubt this though but nothing is in possible seen we are not with them to witness what they are doing covertly, this might probably be one of the reason why they have fought Bitcoin so hard so it can fall the value for them to be able to accumulate more but it will still be good because their action will end up forcing the market to bull run.

Every of your analysis is possible and I really see bitcoin getting to $5500 by May, I am sure a lot of people will start acquiring with FOMO.

Quoted for others to see image without entering link.


Very interesting. Now open the same chart but not with 1h candles but with 1w candles and you will see that all you are saying is small rise with decreasing volume and decreasing long of candles

And that's alarming. We may see very aggressive dump.

https://bitcoinerx.com/wp-content/uploads/2019/03/190328_bitcoin-696x442.png

Bitcoin is gaining momentum after a strong bounce off the rising channel support visible on the 1-hour chart. Price has climbed past the first two Fibonacci extension levels and could be looking to test the swing high next.

This is in line with the 61.8% Fibonacci extension level at $4,125. The channel resistance is closer to the 78.6% level at $4,177 and the full extension is at $4,242.3. However, 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, there’s still a chance that bearish momentum could stay on.

Then again, the gap between the moving averages is narrowing to signal weakening selling pressure and a potential bullish crossover. If so, more buyers could be encouraged to jump in and sustain the climb. A break past the channel resistance could spur a steeper climb for Bitcoin.

RSI is heading lower from the overbought zone to signal that selling pressure is just about to pick up. Similarly stochastic has just recently turned lower from the overbought zone and has plenty of ground to cover before reaching the oversold region, which suggests that sellers could stay in the game for much longer. In that case, another test of the channel bottom around $4,000 could be underway, and a break below this might still spur a reversal.

BTC/USD Chart - TradingView

The strong rebound off the $4,000 key area of interest seems to have been enough to revive confidence in the coin, as well as other cryptocurrencies. Many are still predicting that Bitcoin could reach as high as $5,500 in May when more developments kick in and central banks are rumored to be stocking up on digital assets as well.

However, this move seems to have been accompanied by low volumes and no actual industry developments, so profit-taking could be as quick as in previous instances.