Bitcoin Price Analysis: Bitcoin Eyes The $4,400 Mark After Breaking Over A Major Hurdle

According to a recent report, Bitcoin dominance is gradually reducing. At the moment, Bitcoin dominance is about 50 percent. The digital currency has refused to be held back by the decline in its dominance level. Bitcoin has been pretty resilient, and it just broke over a key resistance level. Tom Lee Bitcoin price prediction 2019 also contributed to the gains of the coin. However, a Bitcoin bull run and crypto bull run will be triggered with a bitcoin ETF approval.
The value of Bitcoin is trading in a strong upward trend over the $4k level against the USD. The digital currency just found strong support over the $4,040 level. BTC might stay over this level and surge towards the $4,400 support level, after breaking over its immediate resistance at $4,200.

Bitcoin Price Prediction 2019 – Bitcoin Price Analysis

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,567.00
7.44%

This past week was sort of bullish for Bitcoin (BTC). The digital currency broke over a long-term resistance level, the $4k level. Bitcoin (BTC) later found support at the $3,980 and $4,000 region for the next wave. Later, Bitcoin price surged over the $4,040 level and found another strong support.

The value of Bitcoin gained enough momentum and surged over the $4,100 resistance level. Bitcoin (BTC) formed a new monthly high close to the $4,132 level before it consolidated later. BTC to USD plunged below the $4,080 mark but stayed over the 100 SMA. The digital currency also plunged below the 50 percent Fibonacci retracement level of the previous swing from the low of $3,995 to the high of $4,132. Nevertheless, the $4,040 support prevented further losses.

The 61.8 percent Fibonacci retracement level of the previous swing from the low of $3,995 to the high of $4,132 also acted as a strong buy zone. The immediate, temporary support of Bitcoin is at the $4,070 mark. If the digital currency breaks below this level, the $4,040 level will act as the next strong support.

Bitcoin (BTC) Will Likely Surge Higher If It Remains over the $4,040 Support Level

Provided Bitcoin (BTC) price remains over its major support at $4,040; chances are it might start a new upward trend towards the $4,200 mark. This might ignite a fresh Bitcoin bull run and crypto bull run. The immediate resistance of Bitcoin is at the $4,150 level. Over this level, the next hurdle is at the $4,200 level. The major target of digital asset investors in the short-term is the $4,400 level.

At the moment, Bitcoin price is accompanying a decent upward trend over the $4k and $4,040 level. A sharp upward trend over the $4,150 mark will likely pave the way for more gains towards the $4,200 and $4,400 mark. Bitcoin needs more traction to ignite a Bitcoin bull run and meet up with Tom Lee bitcoin price prediction 2019.

At the time of writing, the most dominant digital currency in the world is changing hands at $4,145 after a decrease of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $72.07 billion. The trading volume of this digital currency over the past twenty-four hours is $13.03 billion. Bitcoin needs to break over this level for Tom Lee Bitcoin price prediction to come to pass.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.