Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favoured

• Bitcoin price traded to a new monthly high at $4,064 and later corrected lower against the US Dollar.

• The price declined sharply below $3,950, but dips remained supported above $3,900.

• There is a crucial bullish trend line formed with support at $3,920 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).

The pair remains well supported on dips near the $3,920 level and the 100 simple moving average (4-hours).

Bitcoin price is still in a strong uptrend despite recent bearish moves against the US Dollar. BTC/USD is likely to find a solid buying interest if it dips towards $3,940 or $3,920.
 

Bitcoin Price Weekly Analysis (BTC)

This past week, there was a decent upward move above $4,000 in bitcoin price against the US Dollar. The BTC/USD pair traded in a range above the $3,940 support level and finally broke the $4,000 resistance level. Buyers pushed the price above the $4,020 resistance and a new monthly high was formed at $4,064. However, buyers failed to hold gains above $4,020, resulting in a sharp decline below $4,000. The price dropped heavily and broke the $3,960 and $3,940 support levels.

There was even a spike below the $3,900 support and the 100 simple moving average (4-hours). Having said that, buyers defended the $3,900 support and the price bounced back sharply above $3,940. There was a break above the 50% Fib retracement level of the last decline from the $4,064 high to $3,869 low. The recent recovery was solid, but the price faced a strong offer zone near the $4,000 resistance. The 61.8% Fib retracement level of the last decline from the $4,064 high to $3,869 low also acted as a hurdle.

At the moment, the price is consolidating below the $4,000 resistance. Besides, there is a short term connecting bearish trend line in place with resistance at $3,990 on the 4-hours chart of the BTC/USD pair. A clear break above the trend line and $4,000 could open the doors for a fresh upward move. On the downside, there are many supports near the $3,940 and $3,920 levels. There is also a crucial bullish trend line forming with support at $3,920 on the same chart.

Looking at the chart, BTC price is clearly well supported on the downside near the $3,940 and $3.920 levels. As long as the price is above the $3,900 support and the 100 SMA, there are chances of a steady rise in the coming sessions. Buyers may wait for a clear break above the $4,000 and $4,020 resistance levels to gain control.

 

Technical indicators

4 hours MACD – The MACD for BTC/USD is slightly placed in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well below the 50 level.

Major Support Level – $3,900

Major Resistance Level – $4,020

 

 

AAYUSH JINDAL | MARCH 24, 2019 | 5:00 AM

David

Bitcoin – Base formation or rising wedge?

 

• BTC bears unable to break on the downside.

• Bulls unable to cross past range $4,100-$4,400.

Bitcoin, the largest cryptocurrency by market capitalisation has been forming a technical pattern that's making it difficult for the bulls as well as bears to break past easily. However, as soon as it breaks on either side, the moves would be large enough
 

BTC/USD is trading flat on day at $3,986 and in less than one percent range for the day – proof of consolidation days of the poster boy of cryptos. On the 720-minute chart, after forming bottom of $3,126 in the month of December last year, the king of cryptos has been slowly and gradually moving up.
 

Inspite that, the bulls have not been able to cross past the range of $4,100-$4,400. Resulting in a base formation on the downside and a rising wedge like formation. If rising wedge holds true (which it may not, given past failures of falling wedges) then the next downside on BTC would be chaotic as the fall would then bring about sub-$2k levels.
 

BTC/USD 720-minute chart:

David

Bitcoin can surge as high as $400,000

Naeem Alsam, Chief market analyst at Think Markets, columnist at Forbes, and crypto enthusiast, said that he personally believes that each Bitcoin can go up as much as $400K.

Naeem Aslam, the chief market analyst at Think Markets U.K., explained why the $4,000 level is of such importance for Bitcoin, as it will set the trend for which direction the markets will take next.

'Questions are being asked constantly when it comes to Bitcoin's battle with the $4000 mark', Aslam said.

'The result of this battle sets the tone for a bullish or bearish trend. Since December 14, 2018, there have been several battles between bulls and bears at the price level of $4K. In each of this battle, bulls have lost the war because, after the first attack at the $4K level, the bears have been able to gain enough strength to push the price back below this critical mark. It is in this essence, that this level has become a matter of death or life for crypto traders.'

The chief market analyst went on to say that 'if you are a long-term investor, you will not really worry about these short-term levels', referring to the fact that Bitcoin's current price levels do seem to be significant in the short term, in the long term these prices may turn out to be highly insignificant, as Aslam believes that BTC could eventually surge as high as $400k.

'This is because there is a high chance that the next bull run has a minimum potential of pushing the price 5 times higher. That is over $100K', Aslam said.

'I personally believe that each Bitcoin can go up to as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run.'

In the beginning of December 2018, Aslam already mentioned that the feeling of panic which was and (still is) spreading throughout the crypto universe was a good indicator that a Bitcoin bottom was close enough.

Chepicap reported recently that another prominent cryptocurrency trader, going by the Twitter handle Galaxy, tweeted to his 49K Twitter followers that April will be the last month where you will be able to grab yourself some cheap Bitcoin.

The analyst said that more often than not, the Bitcoin price seems to move in a random manner. However, BTC creates repeating patterns and trends, and according to Galaxy, this observed pattern will make April 2019 the last month of cheap $BTC … ever again!

 

 

 

22 MAR, 2019 BY JOERI CANT

 

David

Bitcoin Cash price analysis – BCH/USD capped by $160.00, bears are on the alert

• BCH/USD has gained over 22% in recent 7 days.

• The upside may be limited due to technical correction.

Bitcoin Cash (BCH), the sixth largest coin by market value, is changing hands at $156.23. The coin has gained 1.2% since this time on Wednesday, though it is still 6% lower from the recent high touched at $166.53 on March 18. Bitcoin Cash has a capitalization of $2.8B and an average daily trading volume $376M.

On the intraday level, BCH/USD is supported by SMA100 (1-hour) currently at $156.49. Once it is cleared, the downside is likely to gain traction with the next bearish target $152.90 (Wednesday’s low) followed by psychological $150.00. Meanwhile, a sustainable move lower will open up the way towards $147.50 (SMA50, 4-hour) and $146.70 (SMA200, 1-hour).

On the upside, the major short-term target is $160.00, followed by the recent high at $166.53. The ultimate bullish target at this stage is $170.00; however, the move towards that area seems less likely considering flat intraday RSI and an extended consolidation below recent highs.

BCH/USD, 1-hour chart

 

Tanya Abrosimova

FXStreet

David

Bitcoin Mining Hardware Market Analysis 2019 – ASICrising GmbH, Bitmain Technologies Ltd.

Global Bitcoin Mining Hardware Market Trends, Size and Segment Forecasts, 2019-2026 published by Market Research Place includes data of the key industry players and their scope in the market. The report offers a comparison of key countries based on contribution to global as well as regional level with types, applications, manufacturers, opportunities, challenges. It delivers a balanced mix of main and subordinate research methodologies for its analysis. recent developments and latest contracts awarded in the market across different regions are demonstrated in the report.

 

Competitive Analysis:

The research analyses market size and forecast of Bitcoin Mining Hardware by product, region, and application. Market competition situation among the vendors and company profile is featured in the report. A section dedicated to company profiles covers business profiles, SWOT analysis, project feasibility analysis, product portfolio, cost structure, and project feasibility analysis of key manufacturers. The buyer of this report will be able to take accomplished decisions, plan new projects and business strategies evaluate drivers and restraints, know upcoming opportunities and difficulties, and offer you an industry forecast for 2019 to 2026.

The study focuses on industry chain analysis and all variables including upstream and downstream. These comprise equipment and raw materials, industry trends and proposals, raw materials, client surveys, and marketing channels. Furthermore, researchers have performed a top to bottom investigation of the market measure, different geographic locales, premium industry patterns, and real market portions.

Segment by product type, this report focuses on consumption, market share, and growth rate of the market in each product type and can be divided into: Type 1, Type 2, Type 3, Others

Segment by application, this report focuses on consumption, market share, and growth rate of the market in each application and can be divided into: Enterprise, Personal,

 

Key Takeaways From This Report:

Explore market potential through examining growth rates, price, and volume for products type, end use applications.

Understand the various dynamics influencing the Bitcoin Mining Hardware market –hidden opportunities, key driving factors, and challenges.

The market report estimates the sales and distribution channels across key geographies to boost top-line revenues.

Evaluate the supply-demand gaps, import-export figures and restrictive landscape for prime countries globally for the industry.

The Scope of The Report: This report focuses on the Bitcoin Mining Hardware in the global market, especially in North America, Europe, Asia Pacific, South America and Middle East & Africa

ACCESS FULL REPORT: https://www.marketresearchplace.com/report/global-bitcoin-mining-hardware-market-trends-size-and-128450.html

 

Market competition by top manufacturers/players includes key players such as Antminer, ASICrising GmbH, Bitmain Technologies Ltd., BIOSTAR Group, BitDragonfly, BitFury Group, DigBig, Ebang, Gridchip, BTCGARDEN, Butterfly Labs, Inc., Clam Ltd, CoinTerra, Inc., Black Arrow, Btc-Digger, Gridseed, HashFast Technologies, LLC, iCoinTech, Innosilicon, KnCMiner Sweden AB, Land Asic, LK Group, MegaBigPower, SFARDS, Spondoolies-Tech LTD, TMR,

The report can reduce risks involved in making decisions and strategies for companies and other individuals who want to enter the Bitcoin Mining Hardware market. Performance of contestant operating in the market with respect to market shares, strategies, monetary benchmarking, product benchmarking and additional is measured. Additionally, the report provides a fast outlook on the market covering aspects such as deals, partnerships, product launches of all key players for 2013 to 2018.

 

Barry Collins

March 20,

David

Bitcoin maintains above $4K, most top 100 in red, Kin sees 47% gain

The new week has started in a not-too-good stance for almost all coins in the top 100, with few exceptions coming from coins, such as Stellar (XLM), Kin and Enjin Coin (ENJ).
 

Overall

The new week has started low for most coins as red color dominates the top 100-coin list. That said, the total market capitalization doesn’t see any significant changes at $139,654,671,582.

 

Top 10

The largest cryptocurrency, Bitcoin (BTC) has successfully maintained its value above $4,000 at $4,034, despite seeing a minor 0.38% loss in the last 24 hours.

The other coins on the top 10 have been seeing losses, except Stellar (XLM) and Tether (USDT), with the biggest loss experienced by Litecoin (LTC) with -3.05% at $60.1 price point.

XLM is leading the gain by 2.55% at $0.11, while USDT sees a 0.21% gain at $1.01 price point.

Top 100

Most coins in the top 100 are in red color, with few exceptions, such as Enjin Coin (ENJ), Ravencoin (RVN), Maximine Coin (MXM) and Kin (KIN).

The biggest gain is seen by KIN with an impressive 47.8% at $0.000073, followed by ENJ and MXM that see 15.39% and 12.67% gains at $0.19 and $0.04 price points respectively.

Crypto.com Chain (CRO) has again seen another dip with -9.56% at $0.068, followed by REPO with -7.73% at $0.61 and DigiByte (DGB) with -7.16% at $0.013.

Will BTC maintain above $4,000 the whole week? Will Craig "Faketoshi" Wright's legal issue and his decision to leave the Twitter-verse have an impact on Bitcoin SV's price? Stick with Chepicap to find out.

 

19 MAR, 2019 ,  BY FIFI ARISANDI

David

Bitcoin Bottom? Two Strong Signs of a Crypto Market Trend Reversal

This past weekend the cryptocurrency market enjoyed a spectacular rally, reaching almost $140 billion in value. Leading crypto asset Bitcoin (BTC) soared past the critical $4,000 resistance level that has been holding it down for months, prompting many to ask – is the bottom in for Bitcoin?
 

Two crypto enthusiasts on Twitter have pointed out compelling arguments as to why they believe the bottom could be in for Bitcoin and the crypto market’s year-long bear run might be over.

 

High Volume

Crypto investor and creator of Twitter tipping app tippin.me, Kevin Rooke, recently posted a tweet detailing the huge increase in BTC’s daily exchange volume.
 

“Volume has increased by ~150% in the last 5 months,” he points out in the tweet. That’s the highest that Bitcoin’s daily exchange volume has been in over a year and the majority of the increases have been this month. In fact, Bitcoin’s daily exchange volume has exceeded $10 billion only nine times in the past year. “5 of those days have been in March 2019,” the tweet continues.

Last night’s massive injection of volume and the resulting rally that pushed BTC above $4,000 certainly backs up Rooke’s assertions. This is the second time in two days that BTC has tested and surpassed $4,000. A third test and break above will indicate a confirmed trend reversal and open up $4,850 as the next upside target.
 

Gold Chart Comparisons

Comparisons between Bitcoin and Gold are nothing new, with many crypto investors dubbing BTC “digital gold” over the years. However, Twitter user @CabSav9 recently made and an even more telling comparison between the two assets.
 

When comparing Bitcoin and the long-term chart of Gold since its peak in the late ’70s and the resulting decade long bear market, the two graphs look shockingly similar. After it’s crash in the early ’80s, Gold took almost two decades to stabilize and begin accumulating value again. Bitcoin, by comparison, appears to have followed a similar pattern but over a much shorter timeline. This accelerated correction makes sense considering the speed at which assets can be traded nowadays and the increased pace of life in general.

 

If @cabsav9’s comparison is anything to go by, Bitcoin should begin to build a decent rally soon. In fact, if one were to redraw the chart to follow the Gold trend, BTC could be on $10,000 as early as June this year.
 

The truth is, if you looked hard enough you would probably find several charts that coincidentally follow similar trend patterns when adjusted for time. However, the fact that Gold and Bitcoin have so often been compared in the past makes for a strong argument.

 

Bitcoin is currently trading just above $4,000 and as Asian markets opened strong this morning, it looks set to make some further gains throughout the day.

AUTHOR

Mark Hartley

March 18, 2019, GMT+0000, 5:06 am

David

Bitcoin breaks above $4,000, most coins in the top 100 see red

Bitcoin breaks the $4,000 resistance, the top 100 is dominated by red, with few exceptions, such as Binance Coin (BNB), BitTorrent (BTT) and ABBC Coin (ABBC).

Overall

The overall crypto market is dominated by red color with several exceptions from several coins, such as Bitcoin (BTC), Binance Coin (BNB), ABBC Coin (ABBC) and BitTorrent (BTT).
 

The total market cap is $139,279,230,113.

 

Top 10

The gain on the top 10 coin is led by BNB that sees a 4.96% gain at $15.86, followed by Tether (USDT) that gains by 0.49% at $1.01.

The largest cryptocurrency, BTC manages to break through the $4,000 resistance level at $4,022 after seeing a 0.4% in the last 24 hours.

 

On the other hand, Bitcoin Cash (BCH) sees the biggest loss at $150.10 with -4.82%, followed by TRON (TRX) that’s losing by 1.39% at $0.02 and Litecoin (LTC) that sees a loss of 0.9% at $61.14 price point.

Top 100

The biggest gainer on the top 100 is BitTorrent (BTT) that sees 11.09% at $0.0008, followed by the coin that just changed its name, the ABBC Coin (ABBC) that gains by 7.85% at 0.37 and Maximine Coin (MXM) that sees a 6.27% loss at $0.03 price point.  

While the top 3 biggest losers on the top 100 are Crypto.com chain (CRO) that’s losing by 22.89% at $0.07 after seeing an impressive 47.78% gain in less than 24 hours ago, followed by Digitex Futures (DGTX) and Wanchain (WAN) that see 7.43% and 5.17% loss at $0.07 and $0.4 price points respectively.

 

 

17 MAR, 2019 | UPDATED: 17 MAR, 2019

David

Is A New Record On The Horizon For Bitcoin In 2021?

t seems like new predictions are already cropping up for Bitcoin in the crypto circle. Alec Ziupsnys, the popular crypto trader and his team, have predicted that Bitcoin could see a new all time high in 2021.

 

They claim that the crypto could slowly start making its way up and break into an unprecedented bullish trend that places it at the top again and crosses its previously held record of all time high. He tweeted the following:

Rhythm Trader handler is Alec’s account on Twitter that be manages on behalf of him and his team. He cites the historical pattern of Bitcoin’s growth, claiming that history could repeat itself. That 2014 to 2016 market cycle is repeating itself again in the current time.

 

Alec also has an interesting theory l about how if BTC actually follows a multi-year cycle of boom and busts, it will just indicate that the top crypto has already bottomed.

 

These traders believe that if the crypto market cycles are seemingly ‘rhyming’, it could mean a consistent but slow upward move which would take the crypto to its peak in 2021.

 

The cryptocurrency enthusiast, and massive believer in Bitcoin over centralized financial institutions, further added that if BTC truly follows a multi-year cycle of boom and bust, the likelihood exists that the world number one cryptocurrency has already bottomed.

 

He had previously tweeted:

Alec has a firm conviction that the price of Bitcoin is going upstairs, and it will reach a new high in the year 2021.

 

 

By Sumedha Bose

Mar 16, 2019 04:30 UTC | Updated: Mar 16, 2019 at 04:30 UTC

David

Bitcoin – Stuck in a Rut and in Dire Need of a Break Out

Bitcoin is in the green early but continues to struggle to break out from the current rut. A sell-off could be on the cards if Bitcoin doesn’t make a move soon.

Bitcoin rose by just 0.07% on Thursday. Partially reversing a 0.2% fall from Wednesday, Bitcoin ended the day at $3,948.3.

A choppy start to the day saw Bitcoin rise from a morning low $3,929.9 to a morning high $3,990.5 before easing back. Holding above the first major support level at $3,923.33, Bitcoin broke through the first major resistance level at $3,970.83.

Through the early afternoon, there was another spell of volatility. Bitcoin slid to an intraday low $3,869.3 before striking an intraday high $4,004.0.

Bitcoin tumbled back through the first major support level at $3,923.33 and second major support level at $3,900.47. The bounce back saw Bitcoin break back through the first major resistance level at $3,970.83 and second major resistance level at $3,995.47 before sliding back.

Range-bound through the rest of the day, Bitcoin failed to break back through the major resistance levels. For the bulls, a hold above the major support levels through the day was positive. Failing to hold onto $4,000 levels on the day continues to be a red flag.

Elsewhere

Across the top 10 cryptos, it was a mixed bag for the majors. Stellar’s Lumen and Binance led the way down with losses of 1.9% and 1.24% respectively. On the Upside, Bitcoin Cash ABC and Litecoin were the front runners, gaining 1.61% and 1.02% respectively.

While Stellar’s Lumen led the way down on Thursday, it was leading the way through the current week. In spite of Thursday’s pullback, Stellar’s Lumen was up 6.03% Monday through Thursday.

Newfound love for Stellar’s Lumen was attributed by some to a change to Stellar Lumen’s logo. Either way, 7 consecutive days in the green before Thursday’s pullback has been impressive. For the current month, Stellar’s Lumen is up by 26%.

Binance is the only major to have outperformed Stellar’s Lumen in March. 5 consecutive weeks in the green has given Binance a 45% jump for the current month. Unlikely Stellar’s Lumen, however, the Binance Launchpad platform can be attributed to its recent bull-run.

At the time of writing, Bitcoin was up by 0.28% to $3,959.5. Moves through the early morning saw Bitcoin rise from a morning low $3,948.4 to a high $3,970.0 before easing back. The day’s major support and resistance levels were left untested early on.

For the day ahead

A hold above $3,940 levels through the morning would support a run at $4,000 levels before any pullback. Barring a broad-based market rally, we would expect the first major resistance level at $4,011.77 to pin back more material gains on the day. Bitcoin would need support from the broader market to break through to $4,000 levels. Bitcoin could slide to sub-$3,500 should it continue struggle to break out from $4,000.

Failure to hold above $3,940 levels could see Bitcoin fall to $3,800 levels to test the first major support level at $3,877.07 before any recovery. Barring a broad-based crypto sell-off, however, we would expect Bitcoin to steer clear of the second major support level at $3,805.83. A broad-based sell-off could see Bitcoin fall through the second major support level to $3,700 levels before any recovery.

 

Bob Mason

 

David