BTC to USD: Bitcoin Price Analysis, BTC going to rise?

3 months ago

Technical Indicators:

Support Levels: $5200, $5150

Resistance Levels: $5350, $5400, $5500

Key Points:

  • Bitcoin price is currently trading well above $5200 support level.
  • BTC is gaining momentum and trying to move over the $5350 resistance zone.
  • A bullish pattern is being formed with support around $5200 on the hourly chart.
  • Bitcoin price is currently in a bullish momentum and might move towards $5400 and $5500 resistance levels soon.

Bitcoin Price Analysis:

Summary: Bitcoin price is supported strongly around $5200. BTC is currently in a bullish momentum with the next aim of $5400 and $5500.

This week, bitcoin price maintained a slow bullish pace after rising over $5100 level. BTC was able to maintain its position above $5100 and $5200 support levels after breaking through the major resistance around $5200. BTC was able to close over the 100 hourly SMA. After falling up to $5190, bitcoin price was able to recover sharply to over $5300.

Bitcoin price spiked up to $5365 before correcting downwards. The support around $5250 proved strong enough to stop further declines and BTC was able to maintain its position above the 100 hourly SMA. Also, a bullish pattern is being formed with support around $5200 on the hourly chart.

BTC will most probably experience some dips, however, it remains strong support around $5200. The current target for bitcoin is $5350 above which it might test $5400 and $5500 resistance levels.

BTCUSD Price Chart 20 April

The chart shows that bitcoin price is currently trading with a bullish force above the $5200 support level. Until BTC remains above this support, there are high chances of BTC testing the $5400 and $5500 resistance levels. However, if the support level is broken, Bitcoin might fall down to $5150 and $5100 supports.

View Comments

    Leave a Reply

    Your email address will not be published. Required fields are marked*

    For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

    If you agree to these terms, please click here.

    This website uses cookies. When you are browsing Coinnounce.com, you agree with our cookie policy and terms of use.