Bitcoin Price Prediction: BTC Bulls Waiting On Sidelines To Go Big

  • Bitcoin price struggled to break the $5,190-5,200 resistance area and declined against the US Dollar.
  • The price revisited the $4,940 support area and recently rebounded above $5,000.
  • There is a crucial bearish trend line forming with resistance at $5,110 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could struggle in the short term, but bulls remain in control above $4,900.

Bitcoin price is showing a few signs of weakness against the US Dollar. However, BTC bulls are likely to protect dips near the $4,940 and $4,900 support levels in the near term.

Bitcoin Price Analysis

Yesterday, we saw a steady rise from the $4,940 support in bitcoin price against the US Dollar. The BTC/USD pair climbed above the $5,100 and $5,160 resistance levels. There was also a break above the $5,180 level, but the price struggled near the $5,190 resistance area (the previous support). Besides, it failed to surpass the 50% Fib retracement level of the last slide from the $5,465…

Read Full Story : NewsBTC

2019-04-16 06:30:11

What do you think?

0 points
Upvote Downvote

Written by Newsbtc

Bitcoin Must ‘Decouple’ From Altcoins Before the Next Bull Run: Experts Opinion

OKEx Denies BSV Delisting While Major Exchanges Already Delisted – Here’s Why