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#Bitcoin Price Analysis

Bitcoin Price Weekly Analysis: BTC/USD Selling Continues

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Bitcoin price tuned bearish with a nearby underneath $7,260. BTC/USD's upsides stay topped close to the $7,260 and $7,320 levels in the close term.

Bitcoin Price Key Focuses

  • Bitcoin price declined beneath $7,260 and moved into a bearish zone against the US Dollar.
  • There is a noteworthy bearish pattern line-shaped with resistance at $7,320 on the 4-hour chart of the BTC/USD combine (information feed from Kraken).
  • The match should clear the $7,260 and $7,320 resistances to move in a positive zone.

Bitcoin price tuned bearish with a nearby underneath $7,260 against the US Dollar. BTC/USD’s upsides stay topped close to the $7,260 and $7,320 levels in the close term.

Bitcoin Price Upside Obstacles

This previous week, there was a sharp drawback move from well above $7,600 in bitcoin price against the US Dollar. The BTC/USD combine declined and broke the $7,500 and $7,260 support levels to move into a bearish zone. It even exchanged beneath the $7,000 level and is at present well underneath the 100 straightforward moving normal (4-hours). Another month to month low was framed at $6,881 and the price is at present uniting.

An underlying resistance on the upside is close to the 23.6% Lie retracement level of the last plunge from the $8,297 high to $6,881 low. All the more critically, there is a noteworthy bearish pattern line-shaped with resistance at $7,320 on the 4-hour chart of the BTC/USD match. Underneath the pattern line resistance, the past support at $7,260 is a critical resistance. In this way, the $7,260 and $7,320 resistances are significant hindrances for more picks up in BTC in the close term. Ought to there be a break above $7,320, bitcoin price could recoup. The following resistance anticipates close $7,600 and a half Lie retracement level of the last plunge from the $8,297 high to $6,881 low.

BTCUSD Weekly Price Chart

BTCUSD Weekly Price Chart

Taking a gander at the chart, Bitcoin price is obviously exchanging a bearish zone underneath $7,260. In the event that it neglects to recuperate and slides beneath $6,880, the following stop for merchants could be $6,500-6,600.

Taking a gander at the specialized markers:

4-hours MACD – The MACD for BTC/USD is for the most part put in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is right now well underneath the 30 level.

Real Support Level – $6,880

Real Resistance Level – $7,320

#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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#Bitcoin Price Analysis

Bitcoin Price Analysis: Is BTC ready for the next bull run?

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Bitcoin price is currently correcting downwards below $4000 range. However, BTC will likely move upwards as it remains well supported above $3740.

Technical Indicators:

Support Level: $3940

Resistance Levels: $4000, $4040

 

Key Points:

  • Bitcoin price traded in a positive momentum last weak reaching up to $4040.
  • BTC corrected downwards later breaking $4000 support to test the $3940 support level.
  • Bitcoin price was able to break through a bearish pattern line that was formed with resistance at $3970.
  • BTC is currently correcting downwards, however, the support around $3940 is strong enough to stop losses.

 

Bitcoin Price Analysis:

Summary: Bitcoin price is currently correcting downwards below $4000 range. However, BTC will likely move upwards as it remains well supported above $3940.

Bitcoin price traded positively last week and moved above $4000. BTC was able to break the $4020 resistance level and tested the $4040 resistance before correcting downward. Bitcoin moved below $4000 while correcting downwards and even broke the $3980 support level.

The next support at $3940 proved strong enough to stop further losses and keep the price above the 100 hourly SMA. The price then moved over $3960 resistance and was also able to break through a bearish pattern line that was formed with resistance at $3970. BTC even moved over $4000 again but the buyers were not able to compete with the selling pressure and hence it moved below $4000 again.

Bitcoin price is currently correcting downwards, however, it remains well supported above $3940 support level. Also, the next support around $3920 and 100 hourly SMA is also strong. The current resistance lies at $4000 followed by $4040.

BTCUSD Price Chart

BTCUSD Price Chart

The chart shows that bitcoin price is currently trading downwards, however, it is strongly supported at $3940 and $3920. If BTC falls below $3920 support, the overall momentum might turn bearish. However, bitcoin will likely test the $4000 resistance soon where a lot of sellers are placed.

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