Blockchain Consultants

Blockchain Transformations Done Here

BTCUSD

Bitcoin Price Prediction: BTC/USD Corrects Gain as Price Remains Below $59,000 Level

by

Bitcoin (BTC) Price Prediction – May 6

After touching the daily high of $58,400, BTC/USD drops over 0.55% as it trades at the $57,185 level.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $62,000, $64,000, $66,000

Support Levels: $53,000, $55,000, $57,000

BTCUSD – Daily Chart

The daily chart reveals that BTC/USD failed to break the $58,000 resistance level with the current consolidation pattern as it fails to stay above the 9-day and 21-day moving averages. The Bitcoin (BTC) started the day off by trending lower toward the $56,000 level within the channel. However, crossing below the moving averages may locate the first support level at $55,000. Beneath this, support lies at $53,000, $51,000, and $49,000 levels.

What is the Next Direction for Bitcoin?

BTC/USD has been gradually and persistently working on a recovery mission with the support of $53,000. Therefore, the largest cryptocurrency hovers at $57,185 as bulls battle to overcome the resistance above the moving averages. On the downside, immediate support has been provided by the 9-day moving average at the $56,433 level. Holding above the short-term support is the key for sustaining the uptrend due to the stability exemplifies in the market.

On the upside, the red-line of 9-day MA crossing above the 21-day MA would prove to investors that bulls are finally in control. As speculation increases for gains beyond $60,000, buying orders are bound to rise, adding to the tailwind force. Today, the Bitcoin price couldn’t go higher but seen dropping beneath the $57,000 level. Although the candle is still yet to close, however, it does look unlikely that the bulls may end up closing above this resistance should in case the technical indicator RSI (14) moves above 60-level. More so, toward the upside, resistance lies at $62,000, $64,000, and $66,000.

BTC/USD Medium-Term Trend: Bullish (4H Chart)

Looking at the 4-hour chart, the bears are now coming back into the market if the bulls failed to defend the support at $57,000. Nevertheless, the $55,000 and below may come into play if the bearish momentum increases in the market.

BTCUSD – 4 Hour Chart

However, if the buyers reclaim the current movement and power the market, traders may expect a retest at the $57,522 resistance level; breaking this level may further allow the bulls to hit $60,000 and above. At the moment, the RSI (14) signal line is seen moving towards the downside which may give additional bearish signals in the near future.

Bitcoin Price Prediction: BTC/USD Corrects Gain as Price Remains Below $59,000 Level

Source

Bitcoin Price Prediction: BTC/USD Fails to Push Higher; Price Moving Away from $60,000 Resistance

by

Bitcoin (BTC) Price Prediction – May 2

At the moment, BTC/USD is seen dropping over 1.77% within 24 hours as it trades at the $56,837 level.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $64,000, $62,000, $60,000

Support Levels: $52,000, $50,000, $48,000

BTCUSD – Daily Chart

The daily chart reveals that BTC/USD failed to break above the previous resistance level of $58,550. Moreover, the Bitcoin (BTC) begins the day off by trending lower toward the $56,000 level inside the channel. However, the first support level is located at $56,000. Beneath this, support lies at $52,000, $50,000, and $48,000 levels.

What to Expect from Bitcoin (BTC)

Today’s trading marks another day that Bitcoin fails to stay above the moving averages as it looks to set up another few days of negative price declines beneath $57,000. Meanwhile, a break above the opening price of $57,859 would have set the first digital asset up to reach the nearest resistance at the $60,500 level. In other words, traders can clearly see Bitcoin fails to break up as the technical indicator RSI (14) is facing the downside.

Today, the price of Bitcoin couldn’t go higher as it is seen dropping towards the 21-day moving averages. Although the candle is still yet to close and it does look unlikely that the bulls may end up closing above it. More so, should the technical indicator moves below 50-level, the market price may end on the negative side but on the contrary, moving towards the upside could meet the resistance levels at $64,000, $66,000, and $68,000.

BTC/USD Medium-Term Trend: Bullish (4H Chart)

Looking at the 4-hour chart, the bears are seen coming back into the market as the bulls failed to defend the $57,972. However, the $52,000 and below may come into play if the bearish momentum increases the market movement.

BTCUSD – 4 Hour Chart

However, if the buyers hijack the current movement and push it upward, traders may expect a retest at a $57,900 resistance level; breaking this level may further allow the bulls to hit $64,000 and above. At the moment, the RSI (14) signal line is seen moving below 60-level which could give additional bearish signals in the near future.

Bitcoin Price Prediction: BTC/USD Fails to Push Higher; Price Moving Away from $60,000 Resistance

Source

Bitcoin Price Prediction: BTC/USD Slows Down Below $55,000; Price Prepares to Retrace

by

Bitcoin (BTC) Price Prediction – April 28

The Bitcoin price is poised for a retreat to the next support at $54,000 before making another breakout.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $60,000, $65,000, $70,000

Support Levels: $50,000, $45,000, $40,000

BTCUSD – Daily Chart

BTC/USD is slightly down today after struggling to hold above the critical level of $53,000. This comes following a few bullish days as the first digital asset rebounded from a two-week downtrend, hitting as low as $47,000 on the daily chart. Earlier today, the Bitcoin price is seen trading above the $55,700 level but quickly reversed back down below the next major resistance level at the $54,904 level.

Where is BTC Price Going Next?

The Bitcoin price remains above $54,950 even as bulls seek more support within the 9-day and 21-day moving averages. Looking at the technical indicator RSI (14), BTC/USD is still in the hands of the bulls. However, a minor retreat made by the RSI (14) is making an attempt to trade below 47-level suggesting that exhaustion is slowly engulfing the bullish tent and whatever direction it chooses would determine the next level for the king coin.

Nevertheless, if BTC/USD delays the run-up to $56,000, sellers could eventually gain traction, sending the price back to $53,000 support. Meanwhile, if the support at $51,000 is shattered, BTC/USD may be forced to seek refuge in the next key supports at $50,000, $45,000, and $40,000. On the other hand, any bullish movement above the moving averages could hit the potential resistance levels at $60,000, $65,000, and $70,000 respectively.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

On the 4-Hour chart, the Bitcoin price is trading around the 9-day moving average at the $54,966 level. However, the market price may likely fall below $54,000 if the bears fully stepped back into the market.

BTCUSD – 4 Hour Chart

However, a further bearish movement could test the critical support at the $52,000 level and below while the resistance is located above the upper boundary of the channel at $58,000 and above. Technically, Bitcoin is currently following a sideways movement as the technical indicator RSI (14) moves below 60-level.

Bitcoin Price Prediction: BTC/USD Slows Down Below $55,000; Price Prepares to Retrace

Source

Bitcoin Price Prediction: BTC/USD Spikes to Retest $51,500; Prepares For a Major Reversal?

by

Bitcoin (BTC) Price Prediction – April 22

The Bitcoin (BTC) trades in an increasingly tighter range after setting a lower low at $51,300.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $60,000, $62,000, $64,200

Support Levels: $48,000, $46,000, $44,000

BTCUSD – Daily Chart

BTC/USD is bullish as a further downside has been rejected earlier today as the Bitcoin price action looks to set another lower high around $55,300. However, when considering how much the last push to the downside has retraced, not much further downside is expected. Therefore, traders should see another minor retracement later today before Bitcoin pushes higher to the next target at $58,000.

What to Expect from Bitcoin (BTC)

At the opening of the market today, after testing the low of $51,300, BTC/USD is currently trading at $54,467. Meanwhile, looking at the market movement, there is likely that the market may experience a quick retracement or sell-off just after touching the crucial $55,469, and traders may see $56,000 to $57,000 being tested again before pushing higher.

On the downside, if the market decides to fall, BTC/USD could fall below the lower boundary of the channel at $50,500, and if that support fails to hold the sell-off, traders could see a further decline towards the support levels of $48,000, $46,000, and critically $44,000. All the same, any further bullish movement above the 9-day and 21-day moving averages may hit the resistances at 60,000, $62,000, and $64,000 as the technical indicator is making turn above the 40-level, suggesting an upward movement in the market.

BTC/USD Medium – Term Trend: Bearish (1H Chart)

According to the 1-hour chart, the Bitcoin price first went up but now dropping slightly. If the price continues to drop further and move below the 9-day and 21-day moving averages, it could reach the nearest support levels at $53,500, $53,000, and $52,500 respectively.

BTCUSD – 1 Hour Chart

Moreover, if the bulls push the coin above the upper boundary of the channel, the price of Bitcoin may likely reach the potential resistance levels of $56,000, $56,500, and $57,000. Presently, the market is indecisive as the RSI (14) indicator moves around the 50-level.

Bitcoin Price Prediction: BTC/USD Spikes to Retest $51,500; Prepares For a Major Reversal?

Source

Bitcoin Price Prediction: BTC/USD Bears Battle Bulls; Price Risks Decline to $52,000 Support

by

Bitcoin (BTC) Price Prediction – April 21

BTC/USD rests at $55,300 after the retreat from $54,334 but the $53,000 level may likely come out as support.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $60,000, $62,000, $64,000

Support Levels: $51,000, $49,000, $47,000

BTCUSD – Daily Chart

At the time of writing, BTC/USD is trying to settle below $55,000, but what direction will BTC head next? The fact remains that there might not be consensus since the Bitcoin prices bounced off a historic upward trend, it may likely enter back into a bull phase but if the coin tries to retest the $54,000 low, it may collapse further to form a longer-term bear sequence.

What to Expect from Bitcoin (BTC)

BTC/USD is currently trading at $55,300 with an intraday loss of 2.21%.  Although one can simply say that the prevailing trend is still bullish with expanding volatility but a break below the lower boundary of the channel may likely form a new trend. In this case, Bitcoin could fall below $53,500 support and further movement may likely hit the critical supports at $51,000, $49,000, and $47,000.

However, should the bulls hold the price and push it above the moving averages; BTC/USD could hit $59,000 vital resistance. A further high drive could send the coin to $60,000, $62,000, and $64,000 resistance levels. More so, the RSI (14) is still facing the downside, which indicates that additional bearish momentum may continue to play out.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

Looking at the 4-hour chart, the bears are now dominating the market tremendously, but the bulls may need to defend the $55,000 support. Meanwhile, the $53,000 and below may come into play if the Bitcoin price breaks below the moving averages.

BTCUSD – 4 Hour Chart

However, if the buyers can reinforce and power the market, traders may expect a serious push above the upper boundary of the channel, and breaking this barrier may further hit the potential resistance at $59,000 and above. On the other hand, the RSI (14) is moving below 45-level, indicating a continuation of the bearish movement.

Bitcoin Price Prediction: BTC/USD Bears Battle Bulls; Price Risks Decline to $52,000 Support

Source

Bitcoin Price Prediction: BTC/USD Lacks Technical Breakdown; Price Crashes Below $57,600

by

Bitcoin (BTC) Price Prediction – April 19

BTC/USD is currently in the hands of the sellers but consolidation is likely to take place.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $62,000, $64,000, $66,000

Support Levels: $50,000, $48,000, $46,000

BTCUSD – Daily Chart

According to the daily chart, BTC/USD has not been able to break above the resistance level of $58,000 with the current consolidation pattern. The coin fails to close above the $57,600 level after which it sees a sharp drop below the 9-day and 21-day moving averages. However, the first support level is located below the lower boundary of the channel around $52,000.

What to Expect from Bitcoin (BTC)

The Bitcoin price has continued to move around the lower boundary of the channel, the coin may set up another few days of negative price declines beneath $55,000. Meanwhile, a break above the previous level would have set the first digital asset up to retest the $57,000 level. On the other hand, the technical indicator RSI (14) may follow the downward movement as the signal faces the 40-level. The supports to watch are located at $50,000, $48,000, and $46,000 respectively.

Furthermore, we can clearly see the number-one crypto failing to break below the channel. Today, the Bitcoin price touches the daily high of $57,600 but later dropped back beneath the $56,000 level. Nevertheless, the daily candle is still yet to close and it does look unlikely that the bulls may end up closing above this level. More so, toward the upside, resistance lies at $62,000, $64,000, and $66,000.

BTC/USD Medium-Term Trend: Ranging (4H Chart)

The 4-hour chart shows that the Bitcoin bears are now stepping back into the market pushing the BTC price below its previous support level that existed around $54,800. Although the Bitcoin price has not yet slipped below the lower boundary of the channel, according to the technical indicator, it’s still in the loop of making a bounce back.

BTCUSD – 4 Hour Chart

At the moment, BTC/USD is currently moving below the 9-day and 21-day moving averages. If the coin crosses above the 9-day MA, the upward movement may likely push the price to the nearest resistance at $59,000, and above while crossing below the channel may hit the support at $51,000 and below. However, the RSI (14) is focusing on the oversold territory, which indicates more bearish movement within the market.

Bitcoin Price Prediction: BTC/USD Lacks Technical Breakdown; Price Crashes Below $57,600

Source