Bitcoin Price Analysis: BTC/USD Consolidates Awaiting Another Bullish Ride

2019-5-13 13:39

Coinspeaker
Bitcoin Price Analysis: BTC/USD Consolidates Awaiting Another Bullish Ride

Key Highlights:The Bulls are may take over Bitcoin market;the breakup at $6,121 level will expose $6,332resistance level;the Bitcoin price may bounce at $6,121 level.BTC/USD Medium-term Trend: Bullish

Resistance levels: $7,440, $7,812, $8,233
Support levels: $6,869, $6,332, $5,925On the medium-term outlook, BTC/USD is bullish. The Bulls have no time for the Bears in the market of Bitcoin since May 06, when the Bulls defended the $5,946 demand level and Bitcoin price bounced. Bitcoin rallied to the north and broke up $6,332, $6,869 levels moved up towards $7,440 level. On May 12, a Tweezer top candle pattern formed; which is a bearish reversal pattern. The Bitcoin pulled back to $6,869 where it is currently consolidating.

Bitcoin price is trading above the 21 periods EMA and 50 periods EMA. The distance between BTC price and the two EMAs is increasing to indicate that the Bulls’ pressure is increasing. The Stochastic Oscillator period 14 is at 40 with the signal lines twisted to each other to indicate that consolidation is ongoing in the BTC market.

In case the Bulls defend the $6,869 level, the bullish trend will continue and may break up the $7,440 level and targets $7,812 level. Should the demand level of $6,869 does not hold, the coin will target $6,332 level.

BTC/USD Short-term Trend: Bullish

BTC/USD is ranging in the short-term outlook. The Crypto was ranging last week, the Bulls gained enough momentum and pushed up the coin to reach the supply level of $7,440 on May 12. The Bears reacted against the price increase by the formation of a hanging man candle pattern, which reversed the Bitcoin price to touch $6,869 demand level. Sideways movement is ongoing on the 1-hour chart in the Bitcoin market.

The coin is trading in between the 21 period EMA and 50 periods EMA with the two EMAs flat at the level showing no direction confirms the ongoing consolidation. However, Stochastic Oscillator period 14 is at $75 bending up to connotes buy signal.

Bitcoin Price Analysis: BTC/USD Consolidates Awaiting Another Bullish Ride

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 $ 0.0001874 (-100%)

level bitcoin bullish price btc consolidates analysis

level bitcoin → Результатов: 126


Bitcoin Nears Highs, But It May Not Be Ready for a Breakout; Here’s Why

Bitcoin has seen some incredible strength throughout the past few days, with each dip being aggressively absorbed by buyers This has allowed the crypto to rally past the $18,000 level and gain what appears to be a strong and stable foothold here Where it trends in the near-term should depend largely on its continued reaction to this level One analyst is noting that BTC does look like it wants to test its post-2017 highs of […]

2020-11-21 21:00


Analysts Watch Crucial Bitcoin Support as Altcoins Gain Momentum

Bitcoin has been inching lower throughout the past few days and weeks, with buyers and sellers both being unable to take control of its near-term trend This slight decline has come about following a period of immense strength and stability as it consolidated above $16,000 If it continues trading below this level, its recent $16,500 highs could mark a long-term top Where it trends next may depend on one key support level that an analyst […]

2020-11-15 01:00


Here are the Key Levels Ethereum Must Shatter to Kick Off a Bull Trend

Ethereum’s price has been closely tracking that of Bitcoin throughout the past few days, but this trend has shown some signs of breaking today While Bitcoin is pushing past its key resistance within the lower-$1,000 region, ETH is still stuck below its $360 resistance level If it is able to break these levels, it will then face a significant hurdle between $380 and $400 A continued inability to break above this level could do some […]

2020-10-9 23:00


Bitcoin Could Plunge to $8,100 if These Key Levels Fail to Hold

Bitcoin’s bulls and bears are currently engaged in a heated battle for control of $10,000, with this crucial level likely being the sole factor that determines its near-term outlook. Analysts are noting that the ultimate reaction to this level will likely provide BTC with serious guidance, as a failure to hold above it could spark a far-reaching downtrend BTC is also approaching a key technical level that bulls must try to defend ardently – its […]

2020-9-8 02:00


Bitcoin Prone to Seeing Downside as It Trades Below Key Level

Bitcoin and the aggregated crypto market are struggling to extend the mid-term uptrend that has driven them higher over the past few weeks This has come about as BTC pushes up against insurmountable resistance at $12,000 – a level that it has been rejected at on multiple occasions Analysts are now noting that it may require a daily close above $11,900 for it to see further upside that sends it past this price level There […]

2020-8-14 02:00


Bitcoin’s Highest Weekly Close Since Jan 2018 Coincides with Falling Inflow to Exchanges

Yet another weekend that saw Bitcoin jumping the $12,000 level. After breaking the key level of $10,000, now the largest cryptocurrency is working on another important level. Over the weekend, BTC went down to $11,500 only to start gaining momentum towards the end of the day to start yet another bullish week. And #Bitcoin has […]

2020-8-10 15:59


PlanB: Bitcoin Price Below S2F Model Value Is A ‘Rare’ Opportunity For BTC To $10,000 By EOY

Before breaking the record losing streak of 2014, that has BTC crashing to $6,515 level, Bitcoin went back above $7,000 and is still maintaining around that level. Since last week, Bitcoin price has lost 15% of its value, sinking to the lowest level in six months on concerns of a crackdown on crypto trading by […]

2019-11-26 20:06