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

$ 69791.36 (+0.07%)
Объем 24H $13.028b
Изменеия 24h: 0.46 %, 7d: 3.59 %
Cегодня L: $69187.9 - H: $69791.36
Капитализация $1375.593b Rank 1
Цена в час новости $ 3669.8 (1801.78%)

bitcoin price bear market btc increase increases

Источник: blokt.com

bitcoin price → Результатов: 126


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


Bitcoin (BTC) price prediction after breaching $72k

Bitcoin price forecast points to a possible $82,000. Ten days remain to the much anticipated Bitcoin halving event. Kangamoon, a new meme coin, has raised over $4M in its ongoing presale taking advantage of the crypto hype created by Bitcoin’s price surge Bitcoin (BTC) has been making significant waves in the cryptocurrency market, with its […] The post Bitcoin (BTC) price prediction after breaching $72k appeared first on CoinJournal.

2024-4-8 15:15


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.