Bulls Chorus, Bitcoin (BTC) Steady above $5,000 despite Liquidation Risks

Bitcoin price close above $5,000
Analysts and Investors confident of market recovery

The Bitcoin moon-sling chorus is only getting louder as the market ooze confidence thanks to early April upswings and supporting candlestick arrangement. Even so, there should be a conclusive close above $6,000 before bulls lift prices higher.

Bitcoin Price Analysis

Fundamentals

Not only are ordinary investors and traders optimistic of Bitcoins long-term prospectsafter prices rallied past $4,500 and bulls are actively rejecting anything below $5,000. Even so, analysts are on overdrive, dispensing their two cents on what the future possibly holds.

While this is positive, hinting of changing sentiments after 15 months of depression, we shouldnt get ahead of ourselves. If anything, we can project, but no-one knows for sure what the future holds. For coin holders, the value will is from supporting regulations and increasing adoption.

Should adoption be the primary determinant, then we should see Bitcoin and indeed developers ought to be hard at work creating easy to use interfaces that make it easy for the ordinary users to incorporate the tech in their livelihood.

Before then, its all about education and seminars and everything that would see this change, cleansing Bitcoins name as the narrative changes from Bitcoin being a money laundering tool to this reliable new means of exchange that is global, secure and transparent.

Candlestick Arrangements

At the time of press, Bitcoin (BTC) is steady, under pressure but still trading above $5,000a psychological round number. Because of this, our previous BTC/USD trade plan is valid. Its easy to see why. From a top-down approach, sellers are technically in charge as long as prices are below $6,000.

Once there is a retest and an inevitable close above this resistance level which also doubles up as previous support now resistance, the next wave would likely take BTC to $8,000 and later $12,000. Candlestick arrangements point to undervaluation and even higher highs after buyers of the week ending Apr-6 did rally past an eight-month resistance trend line and simultaneously closing above a four-month resistance line at $4,500.

As it is, every dip will be another buying opportunity as per our iteration with first targets as mentioned above.

Technical Indicators

As prices consolidate in smaller time frames, BTC/USD buyers are firm and in control. However, for trend continuation, there must be a recovery of Apr-11 losses. A complete reversal means high-transaction volumes exceeding 19k with prices above $4,800 of Apr-2 close.

Chart courtesy of Trading View

The post Bulls Chorus, Bitcoin (BTC) Steady above $5,000 despite Liquidation Risks appeared first on NewsBTC.

15.04.2019 / 12:20 45
Ripple (XRP) Bulls Weak but Japanese Investors are Confident Ripple (XRP) Bulls Weak but Japanese
Latest Ripple News The hype element specific to cryptocurrencies meant 90 percent of surveyed individuals got involved with cryptocurrencies in late
Bitcoin (BTC) Prices Exciting but Close Above $4,500 Definitive Bitcoin (BTC) Prices Exciting but Close
Bitcoin prices up after upswings in the Asian session Traders will start paying maker fees in CoinBase Pro beginning Mar 22 Transaction volumes
Ripple (XRP) See-Saws, Bulls Flowing In, 40 Cents Possible Ripple (XRP) See-Saws, Bulls Flowing
Ripple prices up, could print above 40 cents Binances Trust Wallet offer XRP support Transaction volumes likely to increase as XRP close above 40
Time for Ripple (XRP) Bulls, Support Found at 30 CentsAgain! Time for Ripple (XRP) Bulls, Support
Ripple (XRP) consolidates but bulls in control CoinBase support very bullishprice and regulatory wise Transaction levels dip as prices drop Until
Ripple (XRP) Fundamentals and Technicals Sync, Bulls on the Way Ripple (XRP) Fundamentals and
Ripple (XRP) up 3.5 percent Comments from SEC will clear XRP classification status Transaction volumes more than double those of early Febstreams
Ripple Price Analysis: XRP Moon-sling Depend on Adoption Levels Ripple Price Analysis: XRP Moon-sling
Ripple Price technically bullish Brad Garlinghouse confident of more bank switch. Transaction volumes lowaveraging 26 million as XRP consolidate The
Comments (0)
Add a comment
Comment on