Bitcoin Price Uptrend Intact & Dips Remain Attractive To Buyers

Moderator: Admin

Post Reply
User avatar
Foc
Posts: 3
Joined: Tue Mar 12, 2019 4:04 pm

Sun Apr 14, 2019 5:17 am

Bitcoin remains in a strong uptrend despite the recent correction below $5,200 against the US Dollar. BTC is likely to find buyers near soon and it could bounce back above $5,150.

There was a steady rise in bitcoin above the $5,350 level this past week against the US Dollar. The BTC/USD pair even broke the $5,450 level and traded to a new yearly high at $5,465. Later, there was a downside correction and the price broke the $5,400 and $5,350 support levels. Sellers gained pace once the price broke the key $5,200 support area. There was even a break below the 50% Fib retracement level of the last wave from the $4,702 low to $5,465 high.

Moreover, there was a break below a major bullish trend line with support at $5,200 on the 4-hours chart of the BTC/USD pair. Sellers pushed the price below the $5,000 level and the price tested the $4,950 support area. Besides, there was a test of the 76.4% Fib retracement level of the last wave from the $4,702 low to $5,465 high. Recently, the price recovered above the $5,050 level, but it faced a strong resistance near the $5,130 level. The stated $5,130 level was a support earlier and now it is acting as a hurdle for buyers.

It seems like there might be another downside push towards the $4,950 or $4,900 support levels before the price starts a fresh increase. The $4,800 level is also a strong support since it is a pivot area and coincides with the 100 simple moving average (4-hours). Therefore, if there are more downsides, the price is likely to remain supported near $4,900 or $4,800.

Image

Looking at the chart, bitcoin is clearly trading in an uptrend as long as it is above $4,800 and the 100 simple moving average (4-hours). If there is a close below the 100 SMA, the price could decline towards the $4,500 level. Conversely, the price is likely to bounce back above $5,150 and $5,200 in the near term.
sezer
Posts: 5
Joined: Sun Apr 21, 2019 8:31 pm

Sun Apr 21, 2019 8:43 pm

Hi
Who can help me
I need a site where I can find an analysis of yobit currencies
Because I want to analyze existing currencies on yobit and I searched a lot I could not find a site that can support yobit coins
Can you help me, friends?
thank you
gurumaster
Active User
Posts: 159
Joined: Wed May 22, 2019 12:37 pm

Fri May 24, 2019 4:42 pm

Right now, the crypto market is not experiencing the best of times. As a matter of fact, the first 30 digital currencies are all recording a decrease. But not even the slide into the red has stopped the investors of Ripple’s XRP from having big expectations of their shares in on the crypto trading floor. They are eagerly looking forward to a major XRP bull run.
gurumaster
Active User
Posts: 159
Joined: Wed May 22, 2019 12:37 pm

Sat May 25, 2019 4:39 pm

sezer wrote:
Sun Apr 21, 2019 8:43 pm
Hi
Who can help me
I need a site where I can find an analysis of yobit currencies
Because I want to analyze existing currencies on yobit and I searched a lot I could not find a site that can support yobit coins
Can you help me, friends?
thank you
I can help you out, send me an inbox!
alayemi
Active User
Posts: 144
Joined: Thu May 23, 2019 5:44 am

Sun Jun 30, 2019 8:46 pm

There are no banks to make you wait three business days, no extra fees for making an international transfer, and no special limitations on the minimum or maximum amount you can send.
Foc wrote:
Sun Apr 14, 2019 5:17 am
Bitcoin remains in a strong uptrend despite the recent correction below $5,200 against the US Dollar. BTC is likely to find buyers near soon and it could bounce back above $5,150.

There was a steady rise in bitcoin above the $5,350 level this past week against the US Dollar. The BTC/USD pair even broke the $5,450 level and traded to a new yearly high at $5,465. Later, there was a downside correction and the price broke the $5,400 and $5,350 support levels. Sellers gained pace once the price broke the key $5,200 support area. There was even a break below the 50% Fib retracement level of the last wave from the $4,702 low to $5,465 high.

Moreover, there was a break below a major bullish trend line with support at $5,200 on the 4-hours chart of the BTC/USD pair. Sellers pushed the price below the $5,000 level and the price tested the $4,950 support area. Besides, there was a test of the 76.4% Fib retracement level of the last wave from the $4,702 low to $5,465 high. Recently, the price recovered above the $5,050 level, but it faced a strong resistance near the $5,130 level. The stated $5,130 level was a support earlier and now it is acting as a hurdle for buyers.

It seems like there might be another downside push towards the $4,950 or $4,900 support levels before the price starts a fresh increase. The $4,800 level is also a strong support since it is a pivot area and coincides with the 100 simple moving average (4-hours). Therefore, if there are more downsides, the price is likely to remain supported near $4,900 or $4,800.

Image

Looking at the chart, bitcoin is clearly trading in an uptrend as long as it is above $4,800 and the 100 simple moving average (4-hours). If there is a close below the 100 SMA, the price could decline towards the $4,500 level. Conversely, the price is likely to bounce back above $5,150 and $5,200 in the near term.
Post Reply
BTC
EOS
ETH
LTC