Bitcoin [BTC] Price: Is the Bear Market Over?

2019-2-9 17:29

Bitcoin Weekly Chart

The odds that the bear market for cryptocurrencies is over drastically increased yesterday.

Litecoin which often acts as a leading indicator for price movements in Bitcoin recorded a double-digit percentage increase in price early in the day and this was followed with increases in bitcoin and to altcoins.

Prior to the increase, bitcoin was trading at its weekly 200 simple moving average (SMA).

A move below this point would have been extremely bearish for price prospects.

However, price managed to erase all of last weeks losses and form a higher low assuming that price does not erase these gains before the week finishes.

Price has already dropped below the 200 exponential moving average which many analysts consider bearish.

The last time price rose, it met resistance at the 200 EMA making this a key resistance point to monitor now.

The former high is around $4040 making this another resistance point to monitor.

Price overcoming these levels would lead to a significantly more bullish market structure.

Bitcoin 4-Hour Chart

Price is currently consolidating around $3621 which is the point of a breakout which took place in January after yesterdays spike.

Yesterday’s spike met resistance at $3684 which formerly acted as an important support point before price broke below in January.

There are a number of key levels to monitor below price.

$3576 formerly acted as a point of buyer liquidity during bearish drops and this was also the point that price dropped to yesterday when it was initially retracing from its rise.

Price disregarded $3476 as a resistance level during yesterdays but it is likely to come into play as support in the event of a fall as it has been an important level for recent price action.

Key Takeaways: Odds that the bear market is over have drastically increased after yesterdays price action. Higher low formed on the weekly. Weekly 200 EMA and $4040 are key longer timeframe resistance points to monitor. Price currently consolidating around $3621. Resistance level above price is $3684. Support levels to monitor below are $3576 and $3476.

Bitcoin [BTC] Price: Is the Bear Market Over? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66667.53 (+0.08%)
Объем 24H $35.888b
Изменеия 24h: -4.15 %, 7d: -6.13 %
Cегодня L: $66360.31 - H: $68531.34
Капитализация $1314.138b Rank 1
Цена в час новости $ 3669.8 (1716.65%)

bitcoin price bear market btc increase increases

Источник: blokt.com

bitcoin price → Результатов: 126


Фото:

Bitcoin Slips Under $67,000: Can BTC Rely On This Historical Support Again?

Bitcoin has observed a plunge during the past day, taking the asset’s price under $67,000. Here’s the historical support level that the asset could visit next. Bitcoin Is Now Not Far From The Short-Term Holder Realized Price As analyst James Van Straten pointed out in a post on X, the Realized Price of the Bitcoin Short-Term Holders has been going up recently and currently sits around the $64,000 level.

2024-6-12 22:00


Bitcoin Price Prediction: Expert Spotlights “Very Good” BTC Buying Opportunity Amid Ethereum (ETH) ETF Frenzy – Here’s His Outook

Bitcoin’s price trajectory remains a topic of intense speculation, with analysts closely monitoring market patterns and key events. In a video analysis, top analyst Crypto Rover delved into Bitcoin’s price trends, potential breakout scenarios, and the impact of the upcoming Ethereum spot ETF decision.

2024-5-20 18:30


Bitcoin Price Trajectory: Is a Major Shift Looming? Expert Highlights These Key BTC Trends

Bitcoin, the world’s largest cryptocurrency, finds itself in a precarious position as it approaches the weekly closure, threatening to register its fourth consecutive red candle. This rare occurrence has sparked concerns within the crypto community, prompting experts like Sjuul of AltCryptoGems to analyze Bitcoin’s price action on higher timeframes.

2024-4-28 19:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

SOL Price Breaks $150 – Why Solana Could Soon Test $180

Solana is gaining bullish momentum above $150. SOL price is showing positive signs, and it could even surpass the $162 resistance in the near term. SOL price started a fresh increase from the $138 support against the US Dollar.