BTC Price Analysis

On the 1st of April 2020, Bitcoin made some bullish signs over $6200 against the USD. Afterward, it made a downward correction from the $6600 resistance area and visited the support level at $6200. Eventually, the Bitcoin price traded as low as $6159 and then initiated a new increase. The price gained momentum and broke above the key $6400 support area. Yesterday on the BTC/USD chart, there was a bullish trend line, with resistance near $6370. Eventually, Bitcoin rallied above…

BTC has recently noticed severe steady drops from the support level at $6.5k, with the price breaking the largest barrier at $6.2k at the 100 hourly SMA.  Even further, the bears broke the price to below $6k, leading BTC to trade at an even low of $5,846. However, the most recent information shows BTC prices recovering from $5,950 and $6k levels.  BTC dropped mostly from $6,875 to a low of $5,846. Additionally, there was a slow break when the resistance…

The BTC price traded over $6400 support area yesterday.  Eventually, the price brook above the $6800 resistance and settled above 100 hourly simple moving average (SMA). However, the bulls are struggling near the $7000 resistance area to push the price higher. With resistance near $7000, a double top pattern is likely forming on the Bitcoin price chart. What the BTC Price Chart Reveals A daily high formed near $6989, and currently, the price is correcting lower. There is a break…

The BTC prices have experienced an upside correction during the past week after forming a decent support base over $4,000. The correction earmarked a price gain momentum above the $4,500 mark trading at above the $5,000 level of resistance. The coin experienced a break above the initial $5,500 resistance, causing a surge above the $6,000 mark. The price surge however hit a snug at the $7,000 resistance level and the 4 hours 100 simple moving average. A new weekly high…

The prospects seem brighter for a majority of coins, including Bitcoin (BTC). At the moment BTC is trading above the $6k level. The digital currency's price has been climbing from yesterday. So significant was the leap that by the time of going to press it had hit the $6,634 mark. This is according to data from CoinMarketCap.  Analysts have been chiming in with their reasons for being bullish about the digital currency. Hunter Horsely, The CEO of Bitwise Asset Management,…

After an eye-raising decline spell over the week, Bitcoin price made a recovery above $5,000 and $5,500 against the USD. The price looks to be forming a decent support above the $5,000 mark. However, it is facing resistances near the 100 hourly simple moving average (SMA). During the recent upward trend, there was a break above a connecting bearish trend line. At the time, the resistance stood at $5,325 on the BTC/USD pair hourly chart. Although bitcoin faces a struggle…

Last week, the BTC price initiated a steady rise above the $8700 and $8880 resistance levels against the USD. It gained traction and even managed to rise above the key $9000 resistance. Nevertheless, the price faced a strong resistance close to the $9200 region and the 4-hours simple moving average (SMA). A Look at the BTC/USD 4-Hours Chart The BTC/USD 4-hours chart reveals a critical bearish trend line, with resistance around $8700. However, Bitcoin failed to clear the trendline, $8700 resistance,…

Currently, the BTC/USD pair is moving from its weekly drop at $8512. However, the Bitcoin price faces many significant barriers close to $9k, and it might turn to the downside. This week, a powerful downward move to the downside under $9k and $8.8k occurred. The pair even continued under the support at $8680 and established under the 100 hourly SMA. The pair then formed a new low close to $8512, and it is currently correcting losses. A Look at the…

Recently the BTC/USD pair has been striving to remain over $9,750 but later fell towards the $9.5k support. BTC price can plunge even more profound, even below the $9.5k support level.   The pair met a barrier at $9,880 but began a downward drop from the $9,847, falling below the $9750 support. It broke even further to below $9,680 and the 100 hourly SMA.  The drop paved the way for even harsher price declines towards the $9.5k support zone where buyers…