Bitcoin Price Weekly Analysis: BTC Signaling Bullish Continuation, $4K Incoming?
Bitcoin price started a downside correction after a sharp move towards $3,750 against the US Dollar.
The price corrected lower and tested the $3,540-3,530 support area, where buyers emerged.
Later, there was a break above a key bullish flag with resistance near $3,570 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is placed nicely in a positive zone and it could continue to move higher towards $3,650 and $3,800.
Bitcoin (BTC) Price Breaks $9k: Next Possible Target $10K
Sunday June 16, 2019
There were sharp gains in bitcoin price above the $8,000 resistance area against the US Dollar. The price rallied above the $8,500 and $8,800 resistance levels to move into a positive zone. There is...
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Bitcoin price is slowly gaining bullish momentum against the US Dollar. BTC/USD remains in a decent uptrend, with high chances of a bull run towards the $4,000 resistance in the near term.
Bitcoin Price Analysis
Recently, bitcoin price spiked sharply from the $3,350 support area against the US Dollar. The BTC/USD pair rallied and broke the $3,500 and $3,600 resistance levels. There was also a break above $3,700 level and the 100 simple moving average (4-hours). Buyers pushed the price towards the $3,750 level and a new monthly high was formed near the $3,745 level. Finally, the price started a downside correction and traded below the $3,700 level. There was even a break below the $3,650 level, but the price remained well above the 100 simple moving average (4-hours).
During the decline, the price broke the 23.6% Fib retracement level of the last wave from the $3,343 low to $3,744 high. The price traded below the $3,600 level, but buyers appeared near the $3,540-3,530 support area. Moreover, the 50% Fib retracement level of the last wave from the $3,343 low to $3,744 high also acted as a support. A new support base was formed near $3,340 before the price moved higher. Recently, there was a break above a key bullish flag with resistance near $3,570 on the 4-hours chart of the BTC/USD pair. The pair is now placed nicely above the $3,550 level, with a bullish angle.
On the upside, an initial resistance is near the $3,600 level, above which there are chances of more gains. The main resistance is near the $3,750 level, followed by $3,800. If buyers remain in action, the price could even test the $4,000 barrier.
Ethereum (ETH) Price Remains In Uptrend: Break Above $280 Imminent
Monday June 17, 2019
ETH price remained in a positive zone and recently traded above the $275 resistance against the US Dollar. The price is currently correcting lower, but it remains well supported near $265 and $262. There...
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Looking at the chart, BTC price is showing positive signs above the $3,550 level. Should bitcoin fail to gain pace above the $3,600 level, there could be a bearish reaction. An initial support is at $3,540, below which the price could test the $3,500 support area.
4 hours MACD – The MACD for BTC/USD is slowly moving in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently placed above the 50 level.
Major Support Level – $3,540
Major Resistance Level – $3,600
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Donald Trump and Fed Chairman Distrust is Bullish for Bitcoin: Billionaire Investor
Wednesday June 19, 2019
Bitcoin is going to benefit from the growing distrust between the US President Donald Trump and Federal Reserve Chairman Jerome Powell, believes Mr. Michael Novogratz of Galaxy Digital, LLC. The billionaire founder said on...
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