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#Bitcoin Price Analysis

BTC to USD: Bitcoin Price Analysis, Whats next for BTC above $6500?

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Technical Indicators:

Support Levels: $6400, $6200, $6000

Resistance Levels: $6550, $6600, $6800-6850

 

Key Points:

  • Bitcoin price started a fresh bull run and broke above $6400 resistance level.
  • As discussed yesterday, Bitcoin price tested the $6500 resistance level and was able to break above this range as well.
  • The bullish pattern line which was being formed on the hourly chart yesterday with resistance around $6050 is still on the chart.
  • Currently, the overall momentum seems bullish, however, a major bear attack is all set to appear around $6800-6850 resistance level.

 

Bitcoin Price Analysis:

SUMMARY: Bitcoin price was able to break above $6400 and $6500 resistance levels. BTC is currently trading with a bullish force but might soon face the major bear attack around $6800.

 

Bitcoin price broke above the $6200 resistance level yesterday. The buyers were able to push the price even above the 100 hourly SMA and the $6350 level. Due to this, the bulls were able to take full charge and cleared the critical resistance around $6400. Bitcoin price soon tested the $6500 level too, however, it started consolidating gains.

 

After correcting a few points downwards, the bulls gained momentum again and this time with full force were able to push bitcoin price above $6500 resistance level. Currently, BTC is well settled above this level and facing resistance around $6550-6600 level. The current support for bitcoin price is at $6400 below which it might test $6250 and $6000 levels.

 

The bullish pattern line that was being formed on the hourly chart yesterday with support around $6050 is still on the same chart. Currently, Bitcoin price is trying to break above $6550-6600 resistance level above which it might test the most major long term resistance around $6800. BTC might fall back downwards after testing this level as a lot of large sellers are placed around this range.

 

BTC to USD Price Chart 11th May

BTC to USD Price Chart 11th May

The chart shows that BTC is gaining momentum above $6500. It could correct downwards, however, currently it is well supported around $6400 and $6200. On the upside, bitcoin price might soon test the most major resistance level around $6800 where a bear attack might lead to the price crashing back below $6000 level and the 100 hourly SMA.

#Bitcoin Price Analysis

BTC to USD, 19th May: Bitcoin Price Analysis, $6000 or $9000?

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Bitcoin price started to recover massively after crashing down to around $6600 level. BTC is currently trading in a positive momentum.

Technical Indicators:

Support Levels: $7500, $7000, $6600

Resistance Levels: $8000, $8200, $8300, $8500

Key Points:

  • Bitcoin price started to recover massively after moving above $6800 level.
  • The bulls pushed the price back above $7000 and even $7500 resistance level.
  • Bitcoin price was also able to break above the bearish pattern line which was being formed on the hourly chart with resistance around $7300.
  • Currently, BTC seems to be eyeing towards $8000 resistance level.

 

Bitcoin Price Analysis:

SUMMARY: Bitcoin price started to recover massively after crashing down to around $6600 level. BTC is currently trading in a positive momentum and might soon test $8000 resistance level to move towards $8500 and even $9000 levels if it remains above $7200 and $7000 support levels.

Bitcoin price gained bullish momentum last week and broke above $7000 resistance level. The buyers were also able to push the price above $7200, $7500 and $7800 resistance level. BTC even moved over the $8000 level to record a new yearly high at around 8360. However, bitcoin price started to correct downwards later on and fell below $8000 level. The selling pressure increased massively and BTC also broke below $7000 support level which turned the overall momentum into negative. However, Bitcoin price found decent support around $6650 level where buyers were able to stop further losses.

Bitcoin price soon started to recover back upwards and broke above the resistance formed around $7000. BTC was also able to break through $7200 resistance level as well as the bearish pattern line that was being formed on the hourly chart with resistance around $7300. Bitcoin price also moved above $7500 resistance level and is currently trading well above this range.

With BTC currently trading around $7800, the overall momentum seems positive and Bitcoin price might soon test the $8000 resistance zone above which it might test the $8200, $8300 and $8500 levels. However, if bitcoin price started to correct downwards again, it is very essential for BTC to maintain its position above $7000 to remain bullish. If BTC falls below $7000 and $6600 support level, it might turn towards $6000 and even $5500 level in the short term.

BTC to USD Price Chart 19th May

BTC to USD Price Chart 19th May

The chart shows that bitcoin price was able to recover nicely after falling towards $6650 level. The overall momentum seems bullish and BTC might test $8000 level to move towards $8200, $8300 and $8500 resistance levels. On the downside, BTC is currently supported at $7500, $7000 and $6600 level below which the momentum might turn bearish.

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#Bitcoin Price Analysis

BTC to USD, 15th May: Bitcoin Price Analysis, $8500 or $7000?

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Technical Indicators:

Support Level: $7600, $7500, $7200

Resistance Level: $8100, $8350

 

Key Points:

  • Bitcoin price started to correct downwards sharply after rising up to around $8350.
  • The sellers pushed the price below $8000 and BTC tested the $7600 support level.
  • A bearish pattern is being formed on the hourly chart with resistance around $8100 which might push the price back downwards.
  • Bitcoin price might test the $7600, $7500 and even $7200 support levels before it starts a fresh upside move.

 

Bitcoin Price Analysis:

SUMMARY: Bitcoin price started to correct downwards and fell below $8000. BTC is currently supported at $7600 and $7500 and might soon test the $8100 and $8350 resistance levels again.

 

Bitcoin price broke above the $8000 resistance level yesterday with bullish momentum. The buyers even pushed the price above $8100 and $8300 resistance levels, however, there were a lot of sellers placed around $8350 resistance level and thus after reaching up to $8340, bitcoin price started to correct downwards. During the downward correction, BTC delined below $8200 and $8000 support levels.

 

As the price declined below $8000, the selling pressure increased and the bitcoin price was pushed back to the $7600 support level. BTC reached up to $7631 before the buyers were able to control the situation and stop further losses. Currently, Bitcoin is trading well above $8000 and trying to move towards $8100 level. Also, there is a bearish pattern being formed on the hourly chart with the resistance at $8100 which might push the price back downwards. Thus, it is very essential for bitcoin price to break above this level in the short term to stay bullish.

 

The current resistance lies around $8100 above which BTC might test the $8350 resistance level again. A close above this range would take bitcoin to the $8500 and $8700 levels. However, if BTC falls below the $7600 support level, it might fall back towards $7200 and even $7000 level below which the momentum might turn bearish.

 

BTC to USD Price Chart 15th May

BTC to USD Price Chart 15th May

The chart shows that the bitcoin price is currently trading above $8000 and trying move towards $8100 level. Most likely, bitcoin price might fall down towards the $7600 support level again before starting a fresh upward move. As long as bitcoin remains above $7600 level, it will stay in an uptrend and might soon test $8350 and $8500 resistance levels.

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#Bitcoin Price Analysis

BTC to USD, 14th May: Bitcoin Price Analysis, Actually Bullish?

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Technical Indicators:

Support Level: $7950, $7500, $6800

Resistance Level: $8000-8050, $8150, $8300

 

Key Points:

  • Bitcoin price surged massively and broke above $8000 resistance level in order to record around 13% gain in the last 24 hours.
  • A new yearly high for BTC price was recorded around $8180.
  • A bearish pattern line is currently being formed on the hourly chart with the resistance between $8000 and $8050 which might push the price downwards.
  • If Bitcoin price breaks above $8100 level in the short term, it might soon test $8500 level.

 

Bitcoin Price Analysis:

SUMMARY: Bitcoin price surged with bullish force and moved over $8000 resistance level. BTC is currently in a very positive zone and targeting the next resistance levels.

 

After Bitcoin broke above the $6800 and $7500 resistance levels, the bulls took full control and after correcting downwards to around $7000, bitcoin surged upwards massively breaking through $7200 and $7500 resistance levels quite easily. Also, BTC traded and settled well above the 100 hourly SMA. The bulls were also able to push the price above the $8000 resistance level and Bitcoin price even closed well above this level before correcting downwards.

 

The sellers around this level pushed the price downwards below $7800 support level. BTC tested the $7600 support level where the buyers appeared and stopped further losses. BTC is now back over the $7900 level moving towards $8000-8050 resistance level. However, there is a bearish pattern being formed with resistance around this level on the hourly chart which might push the price back downwards. If BTC is able to break above this range, there are chances that it might test the $8150 and $8300 resistance levels.

 

BTC to USD Price Chart 14th May

BTC to USD Price Chart 14th May

The chart shows that the bitcoin price is currently trading with bullish momentum. If BTC corrects downwards again, it is supported at $7950, $7500 and $6800 levels. On the upside, a break above $8050 resistance level might result in bitcoin testing $8300 and $8500 levels in the short term.

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