Bitcoin Edges Towards 11K Despite Conflicts Between The Bulls and the Bears

Bitcoin Trading

Bitcoin News Today – Bitcoin started the week on an upbeat note after a weekend in the slumps. The BTC price prediction indicated an upward trend in the short term but a conflict in technical signal indicator could mean an end to the upsurge. The BTC posted a weekly high of $10,950, the price level of last week’s resistance turned support level. The $10,950 was a 10% rise from the price value of the weekend though the coin has dipped slightly. The BTC is currently trading at $10,800.

Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Prediction 2019 – BTC Chart A Reflection Of The Cryptocurrency Market

 

The one-hour trading chart for the BTC showed the formation of a golden cross with the 50 hour SMA crossing the longer 200 hour SMA. This cross shows a Bitcoin price prediction of a bullish trend reversal. Should the bullish trend continue, the next resistance level for the BTC coin would be the $11,400 resistance level. The opposite seems to be the case for the longer 4 hour SMA with the 50 moving average set to cross below the 200. This ‘death cross’ usually indicates a downtrend pattern at that time frame. These lagging indicators get their positions from previous prices and cannot accurately determine the future price of the Bitcoin.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$7,913.38
-2.37%

The cryptocurrency market is currently in an unpredictable state and the BTC chart reflects the volatile nature of the market. There is no clear cut pattern for analysts and researchers to make an accurate BTC price prediction. The Bitcoin could either go bullish or bearish at any moment. Bitcoin news today learned from a cryptocurrency trader with the social media handle ‘BenjaminBlunts’ that price never moved in a straight line and patience was called for when seeking long term gains. Evidence shows from Bitcoin history that these unpredictable patterns would likely continue as the coin continues to climb upwards.

Analysts and crypto enthusiasts continue to believe that the best option is to buy Bitcoin when there is a dip as the number one ranked cryptocurrency would always bounce back and surge forward. This volatile nature seems to be the coin’s one redeeming factor. So far, the BTC hasn’t disappointed investors as the coin has continued to perform despite the current bearish trend in the cryptocurrency market that has gripped almost all the cryptocurrency coins. The ‘magic’ coin has broken some records in its race to remain at the number one position. It reached an all-year high of $13,000 recently and has crossed the $12,000 resistance level a couple of times.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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.