Bitcoin Price Analysis: BTC/USD Bulls Keep Charging to Upside Targets

[anthon.stephens]

Froom LOL I do not expect anything. If they want to make a pamp on the growth of BTC if they do not scam at all.

Bitcoin will not always stand out. When the US Central Bank launches the stable coin, Bitcoin dominance will end.

This is the most absurd statement I have seen so far after the pump.  . Do you think that US Central bank will launch it's own stable coin? They have USD already.  

At the same time, there is a chance to reduce the dominance of Bitcoin. This will require abandoning reserves in BTC of top projects such as ETH, XRP and others in favor of their tokens.

Did you know that there was even a attempt before? It's called "Flippening" for ETH and "Rippening" for XRP, but it didn't succeed. I advise you to go and research about it more.

Absurd or not. Shows time. I only know that at the present time, about 40 central banks of various countries are actively studying and developing in the blockchain area. Why do you want them to do this? If we take the United States, active negotiations are being conducted behind closed doors of the United States Central Bank with Google and Facebook to create a crypto dollar in conjunction with these companies. Together, they will be able to create massive, powerful cryptocurrency.

Because there are limitless - money, marketing, the best programmers and tremendous development experience. Now, why do they need it if they have dollars. Cryptodollar is just an evolution of money. The USA needs it first of all to maintain domination in our world. The central bank is well aware that blokutenom future. In the next decade, countries will completely abandon paper money. I call this the wildest erotic fantasy that governments have been dreaming of over the last 20 years. The tax system in developed countries is ready to implement this plan. Technology also allow. The technology of tax collection as well as the tax code will also change dramatically in the near future.

Regarding the attempts of “Flippening” for ETH and “Rippening” for XRP, yes, they were and I will say more will be more than once. We will see a significant decrease in Bitcoin dominance in less than 2 years.

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[anthon.stephens]

Froom LOL I do not expect anything. If they want to make a pamp on the growth of BTC if they do not scam at all.

Bitcoin will not always stand out. When the US Central Bank launches the stable coin, Bitcoin dominance will end.

At the same time, there is a chance to reduce the dominance of Bitcoin. This will require abandoning reserves in BTC of top projects such as ETH, XRP and others in favor of their tokens.

Is a centralized system and decentralized system same, of what use will it be to us to be under a stable coin that is still being controlled by controlled by central bank, well, we don’t expect not to have antagonist of cryptocurrency, probably because you didn’t have the opportunity to invest when it was low and now it has become too expensive for you to purchase, so you will also join people like you in doing their possible best to kill a system that supersede any system the government is coming out with.

The only way that stable coin and dominate Bitcoin is when the government impose it on their citizens, but at freewill? It will be another useless coin.

Unfortunately, this is how the financial system in our world works. In the coming decades, it will not change. The adoption of Bitcoin as a currency will not. For the simple reason, the modern financial elite do not control bitcoin as much as they need. I'm talking about people endowed with real power, and not the presence of only relatively large money. 

[anthon.stephens]

Bitcoin (BTC) Bulls Take Back Seat, $4,850 Holds The Key

https://www.newsbtc.com/wp-content/uploads/2019/04/Bitcoin-12.png

Bitcoin price started a major downward move after it failed to stay above $5,150 against the US Dollar.
The price declined below the $5,080 and $5,000 support levels to enter a short term bearish trend.
There is a key declining channel in place with resistance at $5,040 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could decline further towards the main support near $4,850, where bulls could take a stand.
Bitcoin price failed to hold the key $5,220 and $5,150 supports against the US Dollar. BTC even dipped below $5,000 and it may continue to slide towards the key $4,850 support area.

Bitcoin Price Analysis

Recently, there was a bearish reaction below the $5,350 support in bitcoin price against the US Dollar. The BTC/USD pair started a major downward move after sellers managed to push the price below the $5,220 and $5,150 support levels. It opened the doors for more losses, with a close below $5,150 and the 100 hourly simple moving average. The price even broke the $5,000 support area and traded close to the $4,920 support area.

A swing low was formed at $4,922 and the price is currently consolidating losses. It tested the 23.6% Fib retracement level of the recent drop from the $5,463 high to $4,922 low. There is also a key declining channel in place with resistance at $5,040 on the hourly chart of the BTC/USD pair. The pair could spike above the $5,040 and $5,050 levels. However, upsides are likely to be contained near the $5,080 and $5,100 levels. The main resistance is near the $5,150 level, above which bitcoin price could test the 50% Fib retracement level of the recent drop from the $5,463 high to $4,922 low.

The current price action is suggesting more losses below the $4,920 support level. The next main support is at $4,850, which was a resistance earlier. Bulls are likely to take a stand near $4,850. If they fail to protect $4,850, the price could test the $4,720 support.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price clearly struggled in the past two sessions and settled below the $5,150 support. In the short term, there could be an upside correction, but upsides are likely to be capped near $5,080 or $5,100. Therefore, there are chances of another downside push below $4,920 before bulls appear near the $4,850 support area.

Technical indicators:

Hourly MACD – The MACD is showing negative signs in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently from 30 and it is currently near the 40 level.
Major Support Levels – $4,920 followed by $4,850.   
Major Resistance Levels – $5,040, $5,080 and $5,150. 

[RaimondRandom]

I think, it will bounce soon to 5200

[wuvdoll]

Having a blockchain system doesn't require you to also have a stable coin of your own. You can have a blockchain system just for data storage and make the transactions cheaper and faster but have no coin behind it at all. That is why it is absurd, never in history of humanity the USA will have a stablecoin for themselves, they already have a sort of "stable coin" of their own with us dollars.

If you look at how much money is used as cash and how much of it is already digital and even non-existent you will see that the stable coin you are looking for is the actual fiat dollar, they will only improve the infrastructure with blockchain but will keep using the fiat currency digitally that is all, which in return wouldn't really affect bitcoin all that much neither.

[upsidedown75]

I think, it will bounce soon to 5200

Lol, you mean this very moment or what, because that is the most simple target for bitcoin to reach, I think we have even gone beyond $5200 now even though it seems like we are a little far away from it, I think the next target we should be look at now is $6000, by next week if BTC can break the $5500 resistance.

We will be heading up to $6000 and from $6000, I am sure a lot of FOMO will be created at that point that may increase it further but after which I don’t know how strong the bulls can fight it before it will correct itself, but I am sure by Wednesday, $5200 would have already been achieved .

[1Referee]

We will be heading up to $6000 and from $6000, I am sure a lot of FOMO will be created at that point that may increase it further but after which I don’t know how strong the bulls can fight it before it will correct itself, but I am sure by Wednesday, $5200 would have already been achieved .

I doubt we'll see the price break through the $6000 level directly. We'll need a good number of attempts to get rid of the selling pressure around that level. If you also take into consideration that we have never gone up this much in a bear market without correcting, it makes a correction even more likely to take place around $6000.

Don't forget that we also have to deal with a lot of potential selling pressure from coins accumulated far below the current levels, and when these investors/traders feel that the momentum is running out of steam, they'll dump. $6000 is a round psychological number, and with the support it offered last year, it's going to be a major hurdle this year.

We'll see what happens, but for now at least, the bullish momentum is still present.

[RaimondRandom]

I think, it will bounce soon to 5200

Lol, you mean this very moment or what, because that is the most simple target for bitcoin to reach, I think we have even gone beyond $5200 now even though it seems like we are a little far away from it, I think the next target we should be look at now is $6000, by next week if BTC can break the $5500 resistance.

We will be heading up to $6000 and from $6000, I am sure a lot of FOMO will be created at that point that may increase it further but after which I don’t know how strong the bulls can fight it before it will correct itself, but I am sure by Wednesday, $5200 would have already been achieved .

BTC was about 5200, and now for me 4900  is most likely direction

[RaimondRandom]

I hurried with my forecast ... the bullish momentum is still present

[d1ceplayer]

I think, it will bounce soon to 5200

Lol, you mean this very moment or what, because that is the most simple target for bitcoin to reach, I think we have even gone beyond $5200 now even though it seems like we are a little far away from it, I think the next target we should be look at now is $6000, by next week if BTC can break the $5500 resistance.

We will be heading up to $6000 and from $6000, I am sure a lot of FOMO will be created at that point that may increase it further but after which I don’t know how strong the bulls can fight it before it will correct itself, but I am sure by Wednesday, $5200 would have already been achieved .

BTC was about 5200, and now for me 4900  is most likely direction

Despite the strength the bear is using strongly to pull the price back to $4000 trend, the bulls has also been trying their possible best  to counter there effort and keeping the price above $5000, but we really need a very strong push now from some great investors that will help us break the $5500 barrier and push us to $6000, the best we can do to get investors from our own end, is to continue spreading good and attractive news all over the media till it gets to someone whom it will catch his attention and  bring in more money to the market, whether new investors or the old investors.

[Sanitough]

Good price action today, we will soon again at $5300 and that's a good start for the next uptrend move.
Bitcoin keeps staying at a good price, after the pump it did not dump hard like what we see in the previous times, I can feel there will be changes soon.
Bullish prediction is right at this moment, we can see $,6000 after many attempts.

[michellee]

Good price action today, we will soon again at $5300 and that's a good start for the next uptrend move.
Bitcoin keeps staying at a good price, after the pump it did not dump hard like what we see in the previous times, I can feel there will be changes soon.
Bullish prediction is right at this moment, we can see $,6000 after many attempts.

I hope so, but unfortunately, we are still on less than $5000, but we will see the price reaching $5000 again. No need to worry if the price cannot increase right now because we have many times to see it will increase. So I think right now is a good time to buy some bitcoin so we could sell when the price can reach more than $5000. The line at the chart still on the sideways mode and I think it's because we are near in the weekend and usually, the new price will come in the next week. Let's wait and see.

[BrewMaster]

I hurried with my forecast ... the bullish momentum is still present

the "bullish momentum" has been present not because price didn't go to the price you guesses ($4900) but because of the strong buy support that is behind it otherwise $4900 is not really a significant price level to change anything from the current trend even if it was reached.

[BitHodler]

Bitcoin keeps staying at a good price, after the pump it did not dump hard like what we see in the previous times, I can feel there will be changes soon.
Bullish prediction is right at this moment, we can see $,6000 after many attempts.

The dump that hasn't initiated yet can still do so in the coming days or weeks when we make that move to the $6000 mark. Everyone is so bullish, that it makes me question the short term price action we see.

After 15 months of bear market it's quite hard to become excited about the current mini bull run (or whatever you want to call it). As long as we're still trading below $6000 the bear market isn't over for me.

It's going to be interesting to see how the price will react to easter, because the volumes will very likely decline on top of the usual lower weekend volumes, and declining volumes usually translate into declining prices.

[LeGaulois]

Someone noticed that the Bitcoin started to move during the weekends, whereas before it was pretty dead. You could buy bitcoin cheaper starting from Friday and it returned at the beginning of the week. Now it does the opposite, increase in weekends and decrease at the beginning of the week.

[Wexlike]

I hurried with my forecast ... the bullish momentum is still present

the "bullish momentum" has been present not because price didn't go to the price you guesses ($4900) but because of the strong buy support that is behind it otherwise $4900 is not really a significant price level to change anything from the current trend even if it was reached.

In the end whether Bitcoin pulls back or rallies from here is insignificant. Just like the pessimists in 2004 who were waiting to buy $350 gold again, they waited until..... umm they are still waiting. Why be that guy just waiting? This market is far from Euphoric and there are too many pessimists still calling for 3k or lower! The key is do you have a plan?



Easy to guess the next direction of the market, what is difficult is having a plan regardless of where it goes. Remember most of the "analysts" do not dictate whether they are trading or investing, they just blast out there buy, sell, I crushed it. Having no Plan is simply Having a Plan to Fail. If you are following "that guy", what is your plan if he is wrong?

[anthon.stephens]

Bitcoin (BTC) Price Hesitates But More Upsides Seem Likely

https://www.newsbtc.com/wp-content/uploads/2019/04/Bitcoin-21.png

There was a slow and steady rise in bitcoin after it tested the $4,920 area against the US Dollar.
The price climbed higher steadily and broke the $5,200 resistance area to move into a positive zone.
There is a key ascending channel in place with support at $5,270 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could dip in the short term, but buyers are likely to buy heavily near $5,270 or $5,250.
Bitcoin price is showing positive signs above the $5,200 pivot level against the US Dollar. BTC could accelerate higher once it clears the $5,400 resistance area in the near term.

Bitcoin Price Weekly Analysis (BTC)

This past week, there was a downside extension below the $5,000 level in bitcoin price against the US Dollar. The BTC/USD pair traded below the $4,950 level before buyers took a stand above the $4,920 level. A swing low was formed at $4,922 and later the price started consolidating in a range. Finally, there was a fresh increase above the $5,160 resistance and the 100 simple moving average (4-hours). The price broke the $5,200 level and the 50% Fib retracement level of the last slide from the $5,462 high to $4,922 low.

The recent upward move was positive since there was a close above the $5,200 and $5,250 levels. However, the price seems to be struggling near the $5,350 resistance. There was also no close above the 76.4% Fib retracement level of the last slide from the $5,462 high to $4,922 low. A successful close above the $5,350 level may perhaps open the doors for more upsides above the $5,400 and $5,450 levels. A break above the last high near $5,462 could trigger a strong upward move towards $5,600 or $5,800.

On the downside, there is a decent support formed above $5,270. There is also a key ascending channel in place with support at $5,270 on the 4-hours chart of the BTC/USD pair. If there is a break below the channel support at $5,270, the price could test the $5,160 support level and the 100 simple moving average (4-hours).

Bitcoin Price Weekly Analysis BTC Chart

Looking at the chart, bitcoin price is trading nicely above key supports near $5,200. If there is a short term downside correction, buyers are likely to protect $5,270 or $5,200. Only a daily close below $5,160 could put buyers on the back foot. The next key support is at $5,040, followed by the $4,922 swing low.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slightly placed in a bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is slowly moving lower towards the 50 level.
Major Support Level –  $5,160 
Major Resistance Level – $5,400 

[RaimondRandom]

Easy to guess the next direction of the market, what is difficult is having a plan regardless of where it goes. Remember most of the "analysts" do not dictate whether they are trading or investing, they just blast out there buy, sell, I crushed it. Having no Plan is simply Having a Plan to Fail. If you are following "that guy", what is your plan if he is wrong?

[/quote]

Thanks a lot for explanation

[anthon.stephens]

Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?

https://www.newsbtc.com/wp-content/uploads/2019/04/Bitcoin-28.png

There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar.
The price even spiked below the $5,000 support level and it is currently consolidating above $5,100.
There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could bounce back as long as there is no weekly close below the $5,000 support level.
Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way.

Bitcoin Price Weekly Analysis (BTC)

This past week, there was a significant rejection in bitcoin price near the $5,660 level against the US Dollar. The BTC/USD pair started a strong downward move below $5,400 after tether’s drama. The price tumbled below the key $5,280 and $5,200 support levels. There was even a spike below $5,000, plus a close below the 100 simple moving average (4-hours). A swing low was formed near the $4,910 level and recently the price recovered above $5,000 and $5,050.

At the moment, the price is testing the 50% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low. However, the $5,220 area and the 100 simple moving average (4-hours) are acting as hurdles. Above $5,220, there is a major resistance near $5,280 and a connecting bearish trend line. The 61.8% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low is also near the $5,280 level. A successful close above the $5,280 level might trigger a decent recovery in the near term.

On the downside, there is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair. The trend line support near $5,080 is very important, below which the price could test $5,000. If there is a daily close below $5,000, the price is likely to move further into a bearish zone. In the mentioned case, the price will most likely test $4,800 or $4,750.

Bitcoin Price Weekly Analysis (BTC)

Looking at the chart, bitcoin price faced a strong selling interest below $5,400. However, it managed to stay above the $5,000 support. Therefore, there are chances of a recovery above the $5,280 resistance levels. If there is a close above $5,280, there are chances of move towards $5,400 or even $5,500.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slowly moving into the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is back above the 40 level, with a few positive signs.
Major Support Level – $5,050 
Major Resistance Level – $5,280 

[RaimondRandom]

I think growth will continue