So, what does this week’s Bitcoin price action mean? According to the daily chart, Bitcoin is trading sideways around $35,000. The push above $40,000 would mark a new all-time high for the asset. The RSI is also indicating a sideways handle around the $40,000 mark.
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Bitcoin has been on a rapid descent since it broke above $8,000 in mid-December 2018, after a period of relative stability from mid-2017. The cryptocurrency has been seeing support at the $35,000 and $40,000 price levels in recent weeks, but prices have remained mostly within the range of $35,000 to $39,000 in the last week. Bitcoin is down 10 percent on the year, and it has plunged more than 50 percent in the past month.. Read more about bitcoin price analysis and let us know what you think.Summary of the situation
- Last night, BTC hit the $35,000 mark.
- Yesterday there was a strong downward movement.
- The next price target is $40,000.
The bitcoin price analysis for today is bullish as the bears failed to break through the $35,000 level and the market consolidated overnight. Therefore, we expect BTC/USD to continue to rise in the coming week and eventually break through the $40,000 mark. Crypto-currency heat map. Source: Coin360 Overall, the market has traded with small losses over the past 24 hours. Bitcoin remained unchanged and Ethereum lost 3 percent. The rest of the market follows this trend of insignificant losses, with only a few altcoins being the exception.
Bitcoin price movements in the last 24 hours
BTC/USD was trading in a range of $34,864 – $36,120, indicating moderate volatility. Trading volume fell 24.64% to $31 billion. The company has a total market value of $673.7 billion, giving it a market dominance of 44.4%.
4-hour chart BTC/USD – BTC still holding $35,000
On the 4-hour chart, we see that the price of bitcoin has consolidated above the $35,000 level, suggesting that the market will move higher in the next 24 hours. Four hourly chart BTC/USD. Source: TradingView The overall pattern of price action in the market remains neutral. After bitcoin bounced off a low of $30,000 for weeks, resistance was set at $40,000. Since then, the market has made slightly lower highs and slightly higher lows, suggesting that BTC/USD is trading in an increasingly narrow range. The seventh. However, in April, the BTC/USD exchange rate fell sharply and retested the $31,000 level. This was followed by an equally strong rally, leading to a new low. This evolution of price action means that the Bears are still in control. Until the bitcoin price reaches a higher high, we can expect more sideways movement in the coming week. Nevertheless, we expect BTC to move higher in the short term as further declines were rejected overnight. Resistance at $38,000 is likely to be retested and we can expect a possible upside breakout from there. For now, it is better to stay on the sidelines and wait for further price movements…..
Bitcoin price analysis: Supplement
Bitcoin price analysis is bullish now that the market pulled back yesterday and established a small consolidation above the $35,000 level. As a result, we expect BTC/USD to continue to rise over the next 24 hours and try to break through the next target at $40,000 later this month. I look forward to further bitcoin price movements, how to cash in bitcoins, how to buy bitcoin stocks, and whether I should buy bitcoins. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Bitcoin prices are sliding this week amid lingering regulatory concerns and a tough start to the year for major cryptocurrencies. The price of Bitcoin has fallen from $4150 to a low of $3550 in the past week. Is this the beginning of the end for the cryptocurrency? We have recently discussed whether Bitcoin is a bubble, so let’s take a look at the case for a crash.. Read more about when was bitcoin at its lowest and let us know what you think.
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