Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400

Bitcoin price formed a double bottom pattern near $4,940 and climbed higher against the US Dollar.
Bulls pushed the price above the key $5,150 and $5,160 resistance levels.
Yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is currently trading in a positive zone and it could continue to rise towards $5,350 or $5,400.

Why Did Japan’s SBI Just Delist Bitcoin Cash? Potential Factors
Tuesday April 16, 2019

SBI Virtual Currencies has reportedly delisted Bitcoin Cash (BCH) pairs from its trading platform. The Japan-based cryptocurrency exchange today issued a notice in which it clarified the basis of removing BCH-enabled instruments. It explained...

The post Why Did Japan’s SBI Just Delist Bitcoin Cash? Potential Factors appeared first on 12bitplay - Bitcoin Play.

Bitcoin price rebounded sharply above $5,200 against the US Dollar. BTC is back in a decent uptrend and it seems like it could climb towards the key $5,400 resistance area.
Bitcoin Price Analysis
Yesterday, bitcoin price revisited the $4,940 support area against the US Dollar. The BTC/USD pair found a strong buying interest near $4,940 and later started a decent upward move. It seems like the price formed a double bottom pattern near $4,940, which is a positive sign. It broke the $5,100 resistance and the 100 hourly simple moving average to start a solid upward move. Besides, there was a break above the 50% Fib retracement level of the last drop from the $5,186 high to $4,943 low.
More importantly, yesterday’s highlighted major bearish trend line was breached at $5,110 on the hourly chart of the BTC/USD pair. Finally, there was a break above the key $5,150-5,160 resistance area (the previous support). It opened the doors for more gains and the price traded above $5,200 and $5,250. A new weekly high was formed at $5,275 and the price is currently consolidating gains. An initial support is near $5,200 and the 23.6% Fib retracement level of the recent wave from the $4,943 low to $5,275 high.
However, the main support is near the $5,150-5,160 area (the previous resistance). Below $5,150, the price could test the $5,100 support area and the 100 hourly simple moving average. The 50% Fib retracement level of the recent wave from the $4,943 low to $5,275 high is also near the $5,109 level. Therefore, dips from the current levels remain well supported near $5,160 and $5,100.

Could JPM Coin Be the Negative Force Behind Ripple’s Recent Price Action?
Monday April 22, 2019

The past several weeks have been overwhelmingly positive for the crypto markets, with Bitcoin finding its footing in the lower-$5,000 region and many altcoins putting a significant amount of distance between their current prices...

The post Could JPM Coin Be the Negative Force Behind Ripple’s Recent Price Action? appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, bitcoin price clearly jumped back in a positive zone above $5,160. In the short term, there could be a downside correction, but the bulls are likely to defend $5,160 or $5,100. On the upside, an initial resistance is near the $5,275 level, above which the price might test $5,300. Any further gains is likely to set the pace for a push towards the $5,400 level.
Technical indicators:
Hourly MACD – The MACD is placed nicely in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD jumped above the 60 level and it is currently correcting lower.
Major Support Levels – $5,160 followed by $5,100.
Major Resistance Levels – $5,275, $5,300 and $5,400.
The post Bitcoin (BTC) Trend Overwhelmingly Positive As Bulls Eye $5,400 appeared first on NewsBTC.

Whales, Moon-sling Calls, But Will Bitcoin (BTC) Clear $5,500?
Friday April 19, 2019

Bitcoin prices up 4.6 percent in the last week Bullish projection cement our assertion of shifting sentiment from bearish to bullish At spot rates, the crypto market is far from the $880 billion valuation...

The post Whales, Moon-sling Calls, But Will Bitcoin (BTC) Clear $5,500? appeared first on 12bitplay - Bitcoin Play.

You may also like...