Bitcoin Price Analysis: BTC/USD Price Likely to Bounce at $6,121 Level

2019-5-8 16:10

Coinspeaker
Bitcoin Price Analysis: BTC/USD Price Likely to Bounce at $6,121 Level

Key Highlights:The Bulls are may take over the 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: $6,121, $6,232, $6,341
Support levels: $5,946, $5,840, $5,716BTC/USD is bullish on the medium-term outlook. On May 06, the Bulls defended the $5,946 demand level and the Bitcoin price bounced, rallied towards $6,121 level, due to the strong strength of the Bulls, it penetrated the mentioned level and touched $6,332 level.

BTC price pulled back as a result of loss in momentum. The bears took over by the formation of Doji candles. $6,121 level was broken downside by the Bears’ pressure and the coin found support at dynamic support of 21-period EMA.

The Bitcoin price and the EMAs are still in touch consolidating on the 21 EMA. Bitcoin is trading on the 21 periods EMA and 50 periods EMA directly; this indicates that the Bulls are gradually losing their strength.

The bearish movement may continue and reach the demand level of $5,946 in case the Bears further exert more pressure. The bullish movement can continue only when the Bulls break up the $6,121 level. The Moving Average Convergence Divergence period 12 with its histogram is below zero levels and the signal lines bending down to connote sell signal.

BTC/USD Short-term Trend: Ranging


BTC/USD is ranging in the short-term outlook. A strong bearish candle emerged yesterday that broke down the two dynamic supports and resistances together with $6,121 level and the price dropped towards $5,946 but the Bears would not allow a further decrease in Bitcoin price.

The long bearish candle was pushed up to form a pin bar. Immediately after that, the coin started consolidating at $6,121 level.

However, the MACD period 12 is gradually turning up and the signal lines turning to the north to indicate the presence of the Bulls with high pressure.

Bitcoin Price Analysis: BTC/USD Price Likely to Bounce at $6,121 Level

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 $ 0.0006821 (-100%)

price bitcoin 121 level bounce analysis likely

Источник: coinspeaker.com

price bitcoin → Результатов: 126


Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do

The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.

2025-1-13 14:00


Bitcoin price analysis: economic headwinds push price lower

Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […] The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.

2025-1-11 17:48


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


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.

Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.