Bitcoin price prediction – currently, Bitcoin trading price trend, as it stirs above $10,200 against the US Dollar. But for the coin to experience an uptrend, it must witness an increment above $10,400 and $10,500. The price is currently trading close to the key $10,400 resistance level, which is averting profits. As report previously, in the Bitcoin price analysis, the key bearish trend is currently standing-in as a strong resistance close to $10,420 on the BTC analysis chart of BTC/USD pair. The price is likely setting up for the next key break either above $10,500 or below $10,250.
Bitcoin Price Prediction 2019 – Bitcoin Price Analysis – BTC Price Recovery Giving Room for Several Altcoins Recovery
Lately, Bitcoin trading price has been facing several fluctuating price movements, though in the past few days there has been a consistent price recovery of the coin above $10,000 against the US Dollar. This recovery saw the trading price above the $10,200 and $10,250 resistance levels. Also, there was a close above the $10,200 level, making the 100 hourly simple moving average. Due to the positive price surge in Bitcoin, many altcoins including Ripple, Ethereum, EOS, and Bitcoin Cash has also experienced price recovery in their trading value.
With the recent price recovery, Bitcoin price gained momentum above the 23.6% Fib retracement level of the major decrease from the $10,975 swing high to $9,757 low. The upsurge was such that the price experienced a dash above the $10,400 level. Also, there was a break above the 50% Fib retracement level of the major decrease from the $10,975 swing high to $9,757 low. Though, the bulls confronted a solid resistance below the $10,500 level.
Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Technical Indicator
The hourly MACD is gradually losing momentum in the bullish zone. The RSI for BTC/USD is now above the 50 levels. The Major Support Levels are $10,250 then $10,000. While the Major Resistance Levels is at $10,420, $10,500 and $10,680.
Bitcoin Price Prediction – Possibility of A Price Rally If Bulls Can Break Trend Line
The BTC/USD pair is now strengthening below the trend line and the $10,500 resistance. Also, the 61.8% Fib retracement level of the major decrease from the $10,975 swing high to $9,757 low is at $10,510. This means that there is a possibility of the price rallying if it could break the trend line and the $10,500 resistance area, making the subsequent Bull Run close to the $11,000 resistance level in the near term, while instant significant support is close to the $10,250 level. Subsequently, the trading price could experience a fresh decline should there be a downside break below the $10,250 support.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
