Bitcoin Analysis for 2020-03-19 [Premium Analysis]

Bitcoin Analysis for 2020-03-19 [Premium Analysis]
фото показано с : beincrypto.com

2020-3-19 12:40

The Bitcoin price is trading in a range of $4,400-$5,600. Since March 16, it has moved to the upper half of the range, creating an ascending triangle.

Bitcoin (BTC) Price Highlights The Bitcoin price is trading inside a short-term range of $4,400-$5,600. It is possibly trading inside an ascending triangle. The price is trading above its 50-hour moving average (MA). There is resistance at $6,100. Ascending Triangle

Since March 13, the BTC price has been trading in a range of $4,400-$5,600. The price is currently trading very close to the top of the range and has moved above its 50-hour moving average (MA), which is now seemingly being using as support.

In addition, the price has created an ascending triangle since March 16. This is considered a bullish pattern, which most often leads to a breakout. The price is nearing the end of the triangle, which is projected to end tomorrow at the latest.

A breakout that travels the entire height of the pattern would take the price all the way back to $6,100, reaching the high of March 12 and the closest resistance area. This would constitute a breakout above the trading range, whose resistance is now likely to act as support.

Long-Term Movement

The weekly chart shows that the price is currently trading in a neutral zone below the $6,100-$6,800 area. The proposed breakout would take the price to the lower limit of this resistance area. The expected movement would be a breakout towards $6,100 followed by a decrease towards the previous bottom at $4,300.

If the price reclaims and maintains the $6,100 level, it might make a break towards $6,700, although this scenario is much more unlikely.

To conclude, the BTC price is trading in a range of $4,400-$5,600. It is trading very close to the top of the range and has created an ascending triangle. A breakout is expected, with the price moving to revisit $6,100.

For those interested in BeInCrypto’s previous Bitcoin analysis, click here.

The post Bitcoin Analysis for 2020-03-19 [Premium Analysis] appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66846.72 (+0.15%)
Объем 24H $27.999b
Изменеия 24h: 2.43 %, 7d: 9.77 %
Cегодня L: $66739 - H: $66889.16
Капитализация $1316.863b Rank 1
Цена в час новости $ 6253.96 (968.87%)

bitcoin range price 400- trading analysis ascending

bitcoin range → Результатов: 126


Bitcoin Just Posted an Ultra-Bullish Weekly Close; Here’s Where It May Go Next

Bitcoin saw a notable influx of buying pressure yesterday that helped send its price rocketing towards $11,000 The strength of this movement was notable, and BTC has yet to surrender any of its recent gains to sellers Despite the technical strength currently being expressed by Bitcoin, it is imperative to note that it remains caught within its mid-term range This trading range has been formed between $10,200 and $11,200 One analyst is now noting that […]

2020-9-29 21:00


Фото:

Bitcoin Price Analysis: New Low on Low Volume Breeds Potential Bullish Set-up

Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. Although the market seems to be continuing its drift to new lows with greater and greater ease, there are a couple of bullish signals worth considering while the market continues to consolidate: Figure 1: BTC-USD, Daily Candles, New Market LowOn Friday, June 29, 2018, for the first time this year, the daily candles closed below the annual low of $6,000s.

2018-7-1 19:35