Bitcoin (BTC) Price Primed For Gains With Bullish Sentiment On Rise

2019-4-15 09:00

Bitcoin price fund a strong support near the $4,920 level and later recovered against the US Dollar. The price broke the $5,120 resistance level to move into a positive zone. There was a break above a key bearish trend line with resistance at $5,080 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now trading nicely above the $5,150 level and the 100 hourly simple moving average.

Bitcoin price rebounded nicely above $5,100 against the US Dollar. BTC is currently showing positive signs and a break above $5,200 is likely to accelerate gains above $5,250 in the near term.

Bitcoin Price Analysis

This past week, we saw a major downside correction below $5,200 in bitcoin price against the US Dollar. The BTC/USD pair even broke the $5,000 level and traded as low as $4,920. Later, the price consolidated in a range and formed a decent support above the $4,950 level. Finally, the price started a fresh increase and traded above the $5,040 and $5,120 resistance levels. Buyers gained traction and pushed the price above the $5,150 level and the 100 hourly simple moving average.

Besides, the price broke the 23.6% Fib retracement level of the last drop from the $5,464 high to $4,920 low. More importantly, there was a break above a key bearish trend line with resistance at $5,080 on the hourly chart of the BTC/USD pair. The pair is now trading nicely above the $5,150 level and the 100 hourly simple moving average. It traded close to the $5,200 resistance and the 50% Fib retracement level of the last drop from the $5,464 high to $4,920 low.

A break above the $5,200 level is needed for more gains. The next key resistance could be $5,255 and the 61.8% Fib retracement level of the last drop from the $5,464 high to $4,920 low. A successful close above the $5,260 level might open the doors for a strong rise towards the $5,330 level. On the downside, the recent resistance at $5,120 is likely to act a solid support.

Looking at the chart, bitcoin price clearly climbed into a positive zone above the $5,120 level and the 100 hourly SMA. Dips from the current levels are likely find a strong buying interest above $5,100. On the upside, a break above the $5,200 and $5,260 levels could really boost the market sentiment in favor of buyers in the near term.

Technical indicators:

Hourly MACD – The MACD is currently placed nicely in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level and is correcting lower.

Major Support Levels – $5,150 followed by $5,120.

Major Resistance Levels – $5,200, $5,260 and $5,330.

The post Bitcoin (BTC) Price Primed For Gains With Bullish Sentiment On Rise appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Level Up Coin (LUC) на Currencies.ru

$ 0 (+0.68%)
Объем 24H $0
Изменеия 24h: 1.94 %, 7d: 12.29 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0001672 (-100%)

price bitcoin btc rise level resistance primed

price bitcoin → Результатов: 126


Фото:

Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go?

The Bitcoin price is slowly breaching the $70,000 mark, showcasing steady upward momentum despite downward pressure from the bearish performance of the US equities market. Taking note of Bitcoin’s recent price movements, a crypto analyst has suggested that the pioneer cryptocurrency could be gearing up for a strong bull wave that could drive its price by over 70%, pushing it past the $100,000 milestone.

2024-10-26 04:00


Фото:

Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News

Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency’s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a potential crash below $40,000.

2024-9-4 22:30


Фото:

Michael Saylor Sets Audacious $49 Million Bitcoin Price Target – Details

The price of Bitcoin has recently returned below $68,000, as it attempts to stage a recovery following a significant price dip in the last week. While the crypto market leader attempts to find a support, popular American billionaire and Bitcoin maxi Michael Saylor has released a daring 21-year price prediction for the premier cryptocurrency.

2024-7-29 14:00