Bitcoin price has broken over $14,100 for the first time since January 15, 2018 – a staggering 1,020 days ago.The move has coincided with the 12-year anniversary of the first release of the Bitcoin whitepaper and $7 billion flooding back into the market during the start of the US trading session.
Is this the start of the new bull cycle PlanB has been predicting that will propel BTC prices to over $100,000 per coin? Price Levels to Watch in the Short-term
On the 4-hour BTC/USD chart, we can see that bullish traders are battling hard right now to defend $13,900 after selling pressure at the psychological $14K sent bitcoin’s price tumbling.
Just underneath, there is a new flipped level at the former YTD-high ($13,800), which should provide some intraday support if prices continue to retreat.If bears can overcome this, then additional supports can be found at the $13,600, $13,270, 50-EMA line (blue) at $13,190, and main channel support at $12,970.
Taking a broader look using the weekly chart, we can that prices continue to track inside a steep rising wedge pattern.This is typically a bearish reversal pattern, but it can sometimes be rejected if substantial buying volume arrives when the price action reaches maximum consolidation.
Looking above at the next most likely price targets, the weekly $14,670 level, $14,380, and $15,000 are the most obvious resistances Bitcoin will face if the uptrend continues.After that, there doesn’t appear to be many resistances in the way until the fabled $16,000 mark.
The Technicals
On the 4-hour RSI, we can see the latest rally was foreshadowed by a new higher low (white arrow) on the indicator – as was predicted in the previous bitcoin analysis.However, even though the latest surge has pushed BTC above the RSI resistance line (red), we still have yet to see a new higher high appear.
Bitcoin has not even broken above the overbought region on the RSI indicator yet, which will likely pile new selling pressure on top of the uptrend and could keep BTC from recovering above $14K in the short-term.
On the weekly RSI, however, we can see that the leading crypto has, in fact, broken into the overbought region for the first time since July 2019.Again, this will likely have some impact on the price action as we go into the new week.
Total market capital: $409 billion Bitcoin market capital: $256 billion Bitcoin dominance: 62.6% Following Coinbase Pro Launch, EOS Spikes 7% – EOS Price Analysis April 10 EOS has been on a rampage after the cryptocurrency increases by a total of 7% over the past 24 hours, surging EOS to break above the $6.00 level.The coin has now seen a 60% price rise over the past 30 days with a further, rather remarkable, over 120% price increase within the past 90… John McAfee: Bitcoin Custody to Become the Standard Since Bitcoin came into being, we have had a global decentralized digital cash system that can bypass the entire banking system.But like cash, it comes with its own set of risks.
If you lose the keys to your coins, you lose the coins.Seasoned Bitcoin investors know this, but it scares new users who… 50 Bitcoins Worth $500K That Were Mined In February 2009 Mysteriously Moved Today An interesting Bitcoin transaction surfaced today, bringing back memories from 11 years ago in the distant 2009.50 BTC mined back then were just transferred to another address.Bitcoin Mined in 2009 Just Transferred Data from Blockchair reveals that 50 bitcoins mined in 2009 were just transferred to an unknown address.The transaction took place… Tether Network stalls: Omni Investigates (Updated) Tether transactions have dropped sharply, with the last transaction occurring several hours ago.
The news was reported on Twitter as Binance’s hot wallet has been showing pages of transactions that have been stuck in an “unconfirmed” status for over 8 hours (!).Along with Binance, also Huobi, Bitfinex and Poloniex all stopped getting confirmed transactions… Bitcoin Cash Surges 22% following Bitmain’s IPO Announcement Thanks to an investment seeking IPO announcement made by Bitmain earlier in the day, Bitcoin Cash set the markets on fire today.Bitmain is a major maker of cryptocurrency mining hardware, and very popular among retail and commercial mining communities.
The BCH price spike pushed past a historic high of $570 (as of writing this),… Bitcoin Price Analysis: Bull Run Depends on Breaking This Key Level Bitcoin price has finally printed a higher high for the first time in over 50 days, after breaking bullish from the apex of a consolidating pennant (yellow lines on the daily chart).Over the last seven days, $16 billion had flooded back into the global crypto market, helping to drive the leading crypto and a… Tron (TRX) Is Listed At KuCoin’s State-Of-The-Art Blockchain Asset Exchange The continuous inclination of the blockchain powered decentralized projects has uncovered another unique system, the Tron Network.It is blockchain-based platform establishing a truly decentralized Internet.
As part of their expansion, they are announcing that they have listed their transaction currency TRX to one of the most popular cryptocurrency exchange platform, KuCoin.Deposits are now… $130 Million Bitcoin Longs Liquidated On BitMEX As Price Slipped Below $10,500 The Bitcoin (BTC) price dip seen on Thursday has triggered a cascade of forced liquidation on derivatives exchanges like BitMEX and Bitfninex.U.S.stocks have also taken a beating, with the markets experiencing its worst performance since June.
Bitcoin Long Bloodbath as BTC Price Falls to $10,700 According to data from the crypto derivatives analytics… Bitcoin Price Analysis: Can Bitcoin Finally Return To The Bullish Track Above $8000 Following Sunday’s Impressive Breakout? The Bitcoin breakout came just hours after our previous price analysis about the fact that BTC is stuck inside a tight range for too long (and it doesn’t like to be in that situation).Those are our words that were written yesterday: “In the micro-level, we can identify a bullish triangle on the 4-hour timeframe;… Leave a Reply You must be logged in to post a comment.Search.
