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#Bitcoin Price Analysis

Bitcoin Price falling to 3000: Whats the bottom?

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The major fear is to know where will the declining price stop i.e. the bottom price of bitcoin as the price stability has been shattered.

Bitcoin Price showed some recovery yesterday as the price showed an upward move from around $3500 up to $4200 which the major analysts were predicting to be dead cat bounce. After bitcoin fell down from $4000 range, the major support was at $3000 which was being called as bottom by some and some other analysts were predicting that market may even fall further down this line due to the selling pressure and fear which has been created amongst the cryptocurrency investors from fast few days.

 

What’s the bottom?

The major fear that is growing up in everyone’s mind is to know where will the declining price stop i.e. the bottom price of bitcoin as the price stability has been shattered. The current Bitcoin Selloff could be the biggest in history
The past week was tragic for Bitcoin and the entire cryptocurrency markets bringing down the total market cap by approximately 54 Trillion. As per data from CoinGecko, 1 BTC is worth $4047 at press time trading against the US dollars.

 



BTC traded as low as $3475 yesterday and later recovered to approximately $3900. Miners are moving into other businesses amidst the falling price. The crash is being compared to bitcoin’s 2011 crash when it fell up to 93%. Also, the Mt.Gox hack, from 2013 to 2015 the currency went down 83% which was much higher than the current market loss. Market analysts are predicting that the currency will surely fall to $3000 or even up to $2500 before settling down with a significant support.

#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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