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#Bitcoin Price Analysis

Bitcoin, Ethereum: Is it a sign of a Major Crash?

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Bitcoin Price Analysis

MACD: Bearish Zone

Support Level: $3450

Resistance Level: $3900

 

Key Points

  • Bitcoin price fell down massively below $4000 up to $3620.
  • Bears are on attack mode with the resistance now below $4000.
  • The bearish pressure and panic selling could turn up to bitcoin breaking the $3450 support easily.

 

Bitcoin Price Analysis

Bitcoin price experienced a slight improvement above $4300. However battling the bears above $4400, the price failed to rise above the resistance between $4400 and $4500. There was a sharp decline in bitcoin price which led to the most major support at $4000 to be broken. Bitcoin is currently trading around $3600 to $3700 and the price will likely fall down further up to $3450 where the next support lies. This support, however, may not be able to tackle the massively panic selling going on in the market and may result in the further declining of the price.

Bitcoin price is breaking its own yearly low records with the price falling up to $3620. Right now, bitcoin is trying to tackle the major selling attack and trading around $3650. Underneath the $3450 support level, there is a minor support level at $3200 and if the price falls even below this range, it could result in bitcoin reaching up to $2500 in the near future.

 

BTCUSD 24 hour chart

BTCUSD 24 hour chart

The 24-hour chart clearly shows that bitcoin is experiencing a panic selling as the $4000 support was broken. The sellers who were earlier waiting for a $5000 price are now steady at $4000. So most likely it is quite impossible for bitcoin to move above this range in the near future.

 

Ethereum Price Analysis

MACD: Bearish Zone

Support Level: $100

Resistance Level: $115

 

Key Points:

  • Ethereum price is a part of the panic selling declining below $110.
  • The new resistance is set at $115 with a major bear attack
  • The support at $100 is quite fragile and the current panic selling will most likely break this support easily.

 

Ethereum Price Analysis

Once the major support at $130 was broken, Ethereum price was likely to hit $100 range as there were no major buyers between this range. The support levels at $120 and $110 were also easily broken due to the panic selling which is likely from the Initial Coin Offerings which were most likely HODLERS waiting for the ethereum to reach the moon again.

Currently, there are more than half of the ICO’s that still haven’t sold their Ethereum holdings. Once the price breaks the $100 support, these holders are likely to panic and start selling which may take the price sliding down to the next most major support at around $60. From this point, the price may start the correction again.

 

ETHUSD 24 hour chart

ETHUSD 24 hour chart

The 24-hour chart clearly indicated that Ethereum price is experiencing a huge struggle trying to tackle the bears. There is a huge chance of the coin sliding below the $100 support and start trading around $60 to $80.

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12 Comments

12 Comments

  1. Pingback: Bitcoin, Ethereum: Is it a sign of a Major Crash? - Satoshiuncle

  2. HODLer

    November 24, 2018 at 10:30 pm

    HODL!

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#Bitcoin Price Analysis

Bitcoin Price Analysis: BTC ready for a sharp rise?

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Technical Indicators:

Support Level: $3940

Resistance Level: $4000

 

Key Points:

  • Bitcoin price is getting stronger with the current support at $3940.
  • BTC will probably break the $4000 resistance soon to move upwards.
  • A bearish pattern is being formed with resistance around $3980 on the hourly chart.
  • Bitcoin price could spike upwards after breaking the $4000 resistance soon.

 

Bitcoin Price Analysis:

Summary: Bitcoin price is getting stronger in order to break through the strong resistance around $4000. BTC will most probably break through this resistance and move towards $4100 if the $3940 support is maintained.

 

Bitcoin was able to correct upwards after falling down to around $3870. Bulls picked up the pace and moved the price above $3940 resistance level. However, the resistance around $4000 was strong enough to stop further gains. Bitcoin went up to $3999 before correcting downwards. The support formed around $3940 which was earlier the resistance proved strong enough to stop the price from falling down further.

 

Bitcoin price is currently trading upwards in a position to break through the resistance between $3980 and $4000. However, a bearish pattern is being formed around this resistance on the hourly chart. The 100 hourly SMA also lies within this range.

 

If BTC price is able to break through this resistance and the 100 hourly SMA, there are chances of bitcoin rising to up to $4050 and $4100 resistance level in the short term. The major support for bitcoin is currently at $3940.

BTCUSD Price Chart 25th March

BTC/USD Price Chart 25th March

The chart shows that bitcoin price is currently getting stronger with support around $3940. If BTC is able to remain above this support, it might soon break through the $4000 resistance. There is also a small resistance around $4020 after which the price might spike up to $4050 and $4100 resistance levels. However, if the $3940 support is broken, bitcoin might fall down towards $3900 and $3880 support levels in the short term.

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#Bitcoin Price Analysis

Bitcoin Price to $4500 soon? BTC Price Analysis

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Bitcoin price moved above $4000 yesterday and currently trading around $4100. The buyers are trying again to break through the strong resistance at $4200.

Technical Indicators:

Support Level: $3900

Resistance Levels: $4100, $4200

 

Bitcoin Price Analysis:

On the hourly chart, bitcoin price has been quite bullish since last week when it reached a high point of $4160. However, bitcoin was not able to break through the resistance around this range. Again bitcoin started a bullish momentum on 18th March and reached up to $4120 before but started to correct downwards later. It went below $4000 support level.

Bitcoin price moved above $4000 yesterday and currently trading around $4100. The buyers are trying again to break through the strong resistance that is formed between $4100 and $4200. If the current resistance is broken, there are chances that bitcoin could spike up to $4500 in the short term. The current momentum surely signals a ‘buy’ time. However, if bitcoin is not able to break through this resistance for long, it could result in BTC price falling back below $4000 and even $3900 range and turn bearish.

BTCUSD Hourly Chart

BTCUSD Hourly Chart

Last week, bitcoin tested the $4200 resistance but failed to break through. The sellers pushed the price down to $3832. Later, buyers were able to start a fresh bullish momentum and moved the price above the 12-day exponential moving average which was turned into support. Bitcoin moved above $4000 and the buyers are currently moving ahead to fight the sellers at $4200 resistance level.

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#Bitcoin Price Analysis

Bitcoin Price Analysis: BTC at a crucial point

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Bitcoin price is currently situated well above $3940 support. BTC could very soon fall downwards if it is unable to break above $4000 resistance level.

Technical Indicators:

Support Level: $3940

Resistance Level: $4000

Key Points:

  • Bitcoin price is struggling to break the $4000 resistance.
  • BTC recently fell downwards and tested the $3940 support and 100 hourly SMA again.
  • A bearish pattern line is formed at with resistance around $3980 on the hourly chart.
  • It is very essential for Bitcoin price to reach above $4000 in order to stop the price from falling.

 

Bitcoin Price Analysis:

Summary: Bitcoin price is currently situated well above $3940 support, however, BTC could very soon fall downwards if it is unable to break above $4000 resistance level.

Bitcoin started to correct downwards yesterday after rising up to $4040. The downward momentum was able to break $4000 support level and the price further fell down to test $3940 support.

However, the selling pressure was not enough to break this support and hence bitcoin is currently placed well above this range. Also, there is a bearish pattern line formed with resistance around $3980 on the hourly chart. Hence, it is very essential for bitcoin price to break through the $4000 resistance level in order to avoid a sudden bearish momentum. If BTC is unable to break through, it might crash down and break through the current support.

BTCUSD Price Chart

BTCUSD Price Chart

The chart shows that the bitcoin price will most likely cross over the $4000 resistance level or crash down below the current support around $3940 very soon. Buyers need to gain pace in order to avoid losses.

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