Can Bitcoin (BTC) Buyers Keep The Rally Going?

Bitcoin price climbed into a crucial uptrend after it broke the $4,200 resistance against the US Dollar.
The price surged higher and broke the $4,500 and $5,000 resistances before starting a downside correction.
There is a significant ascending channel formed with support at $4,900 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair remains well supported on dips and buyers are likely to push the price to a new 2019 high.

3 Derivative Digital Asset Exchanges Transforming Crypto Investment
Monday August 19, 2019

Cryptocurrencies are no longer a fringe financial instrument for its most ardent supporters. In 2019, digital assets are a prominent investment vehicle couched alongside stocks, bonds, and commodities, bringing both increased participation and higher...

The post 3 Derivative Digital Asset Exchanges Transforming Crypto Investment appeared first on 12bitplay - Bitcoin Play.

Bitcoin price gained bullish momentum recently above $5,000 against the US Dollar. BTC is following a solid uptrend and it is likely to climb towards the $5,400 and $5,600 levels.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin started a strong rise after it broke the $4,200 resistance price against the US Dollar. The BTC/USD pair climbed above many resistance levels, including $4,400, $4,600 and $4,800. Buyers were even successful in a break above $5,000, plus a close above the 100 simple moving average (4-hours). The price traded above the $5,200 level and a new 2019 high was formed at $5,358. Later, the price started a downside correction and traded below $5,200 and $5,000.
There was a break below the 50% Fib retracement level of the last wave from the $4,128 low to $5,358 high. However, the decline was limited and the price found support near the $4,750 level. The 50% Fib retracement level of the last wave from the $4,128 low to $5,358 high also acted as a strong support. Recently, the price started a fresh increase and moved above the $5,000 and $5,100 resistance levels, which is a positive sign.
At the outset, there is a significant ascending channel formed with support at $4,900 on the 4-hours chart of the BTC/USD pair. The pair is likely to continue higher since it recently broke the $5,060 resistance level. To the topside, the price is likely to break the $5,358 high. The next stop could be $5,400, above which bitcoin is likely to surge towards the $5,600 resistance level in the near term.

Bears in Charge as Bitcoin Price at Risk of November 2018 Style Dump
Wednesday August 21, 2019

Throughout much of 2018, support at $6,000 acted as the absolute Bitcoin price floor, with each time bears pushed the price of the first-ever crypto-asset down to the range, it would reverse and rally –...

The post Bears in Charge as Bitcoin Price at Risk of November 2018 Style Dump appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, BTC price is clearly trading in a solid uptrend above the $4,900 support area. If there is a downside extension below $4,900, the price might revisit the $4,750 support level. The next major support is at $4,500, where buyers are likely to take a stand. In the short, there could be range moves before the price climbs towards the $5,400 or $5,600 level.
Technical indicators
4 hours MACD – The MACD for BTC/USD is about to move into the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is placed well above the 55 level.
Major Support Level – $4,900
Major Resistance Level – $5,400
The post Can Bitcoin (BTC) Buyers Keep The Rally Going? appeared first on NewsBTC.

Altcoins Bleed Whenever Bitcoin Lingers around $10k Level
Thursday August 22, 2019

Bitcoin and altcoins are forming a strange correlation as of late, according to data provided by market analyst Ceteris Paribus. The noted cryptocurrency trader found that leading altcoins plunged massively every time bitcoin tested...

The post Altcoins Bleed Whenever Bitcoin Lingers around $10k Level appeared first on 12bitplay - Bitcoin Play.

You may also like...