Does Bitcoin Have a Bullish or Bearish Bias?

Does Bitcoin Have a Bullish or Bearish Bias?
фото показано с : beincrypto.com

2020-3-25 17:20

The Bitcoin price has been increasing since reaching a low of $3,782 on March 13. It reached the $6,850 area twice, on March 19 and 25, but failed to break out both times.

Cryptocurrency trader @devchart outlined a BTC chart, stating his belief that the current long-term bias is bearish. His reasoning comes from the fact that the price has not yet cleared the major weekly resistance level at $6,751. Until it does so, he will remain bearish.

Simple way to figure out if you should have a bullish or bearish bias… just zoom out.
Can you truly be bullish until this weekly level is flipped?#BTC pic.twitter.com/Kg85AKG4lc

— Devchart (Andre) (@devchart) March 25, 2020

Will the BTC price be able to successfully break out above this level? Continue reading below if you are interested in finding out.

Weekly Levels

There are three interesting weekly levels to consider, found at:

$6,900 $6,100 $5,300

Together, they created a weekly trading range that the price has been trading in since the rapid decrease in the beginning of March. The weekly closes are used to create the range instead of the wick highs/lows.

Therefore, we agree with the assessment made in the tweet, that the long-term bias for BTC is bearish unless the price is successful in reaching a weekly close above the $6,900 resistance level.

Bitcoin Chart By Trading View Double Top

In lower time-frames such as the four-hour, the resistance level remains roughly the same. However, the support level is found at $5,750, one which the price has validated numerous times.

Since March 19, the price has completed a double top near $6,850, which is considered a bearish reversal pattern. In addition, it is combined with significant bearish divergence in the RSI, a sign that the price is likely to decrease to the support level and possibly lower.

Bitcoin Chart By Trading View

In addition, the price is following an ascending support line. A breakdown from the support line, which seems likely, could take the price to the support area of $5,750. If that does not hold, the next support area is found at $5,000.

Bitcoin Chart By Trading View

To conclude, the Bitcoin price was rejected by the $6,850 area and has created a double top. We believe the price will decrease, break down from the ascending support line and possibly reach one of the support areas outlined above.

The post Does Bitcoin Have a Bullish or Bearish Bias? appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66001.29 (-0.19%)
Объем 24H $41.346b
Изменеия 24h: 6.90 %, 7d: 7.31 %
Cегодня L: $65892.13 - H: $66316.72
Капитализация $1300.151b Rank 1
Цена в час новости $ 6679.54 (888.11%)

bias bearish march bitcoin times cryptocurrency both

Источник: beincrypto.com

bias bearish → Результатов: 126


Ethereum Technical Analysis Sees ETH Track BTC Higher

Ethereum has a bullish short-term trading bias and a bearish medium-term outlook The four-hour time frame shows that a bullish inverted head and shoulders pattern has formed The daily time frame shows that a breakout above the $140 level could be very bullish for ETH/USD Ethereum is moving higher on Monday, as the second-largest cryptocurrency […] The post Ethereum Technical Analysis Sees ETH Track BTC Higher appeared first on Crypto Briefing.

2020-1-6 20:46


Bitcoin Cash Turning Bullish, Holds Above $200

Bitcoin Cash has a bullish short-term and bearish medium-term trading bias The four-hour time frame shows that a bullish inverted head and shoulders pattern is forming The daily time frame shows that the cryptocurrency may start to target the $280 level Bitcoin Cash is showing bullish bias as the fifth-largest cryptocurrency continues to firm above […] The post Bitcoin Cash Turning Bullish, Holds Above $200 appeared first on Crypto Briefing.

2020-1-2 23:17


Dash Price Analysis: Accumulating Losses

Dash has a bearish short-term and medium-term trading bias The four-hour time frame shows that a bullish inverted head and shoulders pattern has been invalidated The daily time frame shows that a bearish head and shoulders pattern has been triggered Dash remains under heavy downside pressure as the coin fell to levels not seen since […] The post Dash Price Analysis: Accumulating Losses appeared first on Crypto Briefing.

2019-11-27 20:14


Zcash Price Analysis: Bullish Opportunity

Zcash has a bearish short-term and medium-term trading bias The four-hour time frame shows that a bullish inverted head and shoulders pattern has been invalidated The daily time frame shows the presence of bullish MACD divergence Zcash has slipped to its lowest trading level since March 2019, following the recent decline in the broader cryptocurrency […] The post Zcash Price Analysis: Bullish Opportunity appeared first on Crypto Briefing.

2019-11-27 19:01


Litecoin Price Analysis LTC/USD: Downfall

Litecoin has a bearish short-term and medium-term trading bias The four-hour time frame shows that the LTC/USD pair is trading in a descending price channel A sustained loss of the $47.00 level would be extremely bearish for Litecoin Litecoin has erased its early month trading gains, leaving the cryptocurrency testing back towards the October monthly […] The post Litecoin Price Analysis LTC/USD: Downfall appeared first on Crypto Briefing.

2019-11-22 17:22


Binance Coin Price Analysis BNB/USD: Consecutive Losses

Binance Coin has a bearish short-term and medium-term trading bias The four-hour time frame shows that a bullish inverted head and shoulders pattern is still present A loss of the $16.00 level would be extremely bearish for the BNB/USD pair Binance Coin remains under pressure alongside the broader cryptocurrency market, with the BNB/USD pair trading […] The post Binance Coin Price Analysis BNB/USD: Consecutive Losses appeared first on Crypto Briefing.

2019-11-22 21:12


Holochain Price Analysis HOT / USD: Unrealized Potential

Holochain has a bullish short-term bias and a bearish medium-term trading outlook The four-hour time frame shows that a bullish inverted head and shoulders pattern has formed The daily time frame is showing an even larger inverted head and shoulders pattern in play Holochain has been slowly advancing over the last few weeks, with the […] The post Holochain Price Analysis HOT / USD: Unrealized Potential appeared first on Crypto Briefing.

2019-11-14 21:21


Bitcoin Cash Price Analysis BCH / USD: Defining Moment

Bitcoin Cash has a bullish short-term bias and a bearish medium-term trading outlook The four-hour time frame shows that a head and shoulders pattern has formed The daily time frame is showing that a neutral wedge pattern has formed Bitcoin Cash has been on a wild ride since mid-September, with the BCH / USD pair […] The post Bitcoin Cash Price Analysis BCH / USD: Defining Moment appeared first on Crypto Briefing.

2019-11-13 18:50


Stellar Lumen Price Analysis XLM / USD: High Targets

Stellar Lumen has a bullish short-term trading bias, but remains bearish over the medium-term The four-hour time frame shows that the XLM / USD pair is trading in a rising price channel The daily time frame shows that a large descending price channel has formed Stellar Lumen is on the rise, after the cryptocurrency posted […] The post Stellar Lumen Price Analysis XLM / USD: High Targets appeared first on Crypto Briefing.

2019-11-1 17:33


Tezos Price Analysis XTZ / USD: Not Giving Up

Tezos has a bearish short-term bias, with the XTZ / USD pair erasing all its monthly gains The four-hour time frame shows that the bearish head and shoulders pattern has now reached its full downside projection The daily time frame shows that the XTZ / USD pair has found strong technical support from its 200-day […] The post Tezos Price Analysis XTZ / USD: Not Giving Up appeared first on Crypto Briefing.

2019-8-16 16:52


Ripple-Promoted Token Price Analysis XRP / USD: Worst Nightmare

Ripple’s token has a bearish short-term trading bias, with the XRP / USD pair trading at its weakest level since December 2017 The bearish head and shoulders pattern on the four-hour time frame has now reached its full downside projection The daily time frame shows that a bearish breakout has occurred below a large wedge […] The post Ripple-Promoted Token Price Analysis XRP / USD: Worst Nightmare appeared first on Crypto Briefing.

2019-8-16 16:22


0x Price Analysis ZRX / USD: Recovery Attempts

0x has a bearish short-term trading bias, with the cryptocurrency trading at its weakest level since November 2017 The four-hour time frame shows that a large falling wedge pattern has formed The daily time frame shows that the ZRX / USD pair has undergone a major decline after breaking from a horizontal price channel 0x […] The post 0x Price Analysis ZRX / USD: Recovery Attempts appeared first on Crypto Briefing.

2019-8-16 15:54


Ethereum Price Analysis ETH / USD: Extensive Losses

Ethereum has a bearish short-term bias, with the ETH / USD pair crashing below key technical support on the four-hour time frame The four-hour time frame shows that the recent bearish triangle breakout has accelerated the ETH / USD pair’s decline The daily time frame shows that the bearish head and shoulders pattern is close […] The post Ethereum Price Analysis ETH / USD: Extensive Losses appeared first on Crypto Briefing.

2019-8-15 16:16


ICON Price Analysis ICX / USD: Sisyphean Task

ICON has a bearish short-term bias, with the cryptocurrency weakening below its key moving averages The four-hour time frame shows that the ICX / USD pair is creating bearish lower lows and lower highs The daily time frame shows that the ICX / USD pair has performed a bearish breakout from a sideways price channel […] The post ICON Price Analysis ICX / USD: Sisyphean Task appeared first on Crypto Briefing.

2019-8-14 16:02


Komodo Price Analysis KMD / USD: Insufficient Energy

Komodo has a bearish short-term bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that a bullish inverted head and shoulders pattern has been invalidated The daily time frame still shows a valid inverted head and shoulders pattern Fundamental Analysis Komodo is starting […] The post Komodo Price Analysis KMD / USD: Insufficient Energy appeared first on Crypto Briefing.

2019-8-13 16:19


Ethereum Price Analysis ETH / USD: False Hope

Ethereum has a bearish short-term bias, with the ETH / USD pair still trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that price has moved back inside a triangle pattern after a false bullish breakout The daily time frame shows that the ETH / USD pair is […] The post Ethereum Price Analysis ETH / USD: False Hope appeared first on Crypto Briefing.

2019-8-12 16:35


Stellar Lumen Price Analysis XLM / USD: Collapsing Star

Stellar Lumen has an increasingly bearish short-term trading bias, with the XLM / USD pair slipping towards its all-time trading low The four-hour time frame shows that a bearish triangle pattern breakout is underway The daily time frame shows that a bearish head and shoulders pattern has been triggered Stellar Lumen / USD Short-term price […] The post Stellar Lumen Price Analysis XLM / USD: Collapsing Star appeared first on Crypto Briefing.

2019-8-9 16:17


Tezos Price Analysis XTZ / USD: Jump Start

Tezos has a bullish short-term bias, with the XTZ / USD pair recovering to its highest trading level since May 2019 The four-hour time frame shows that bulls are trying to invalidate a bearish pattern The daily time frame shows that a bullish breakout is currently underway Fundamental Analysis XTZ spiked after Coinbase announced integration […] The post Tezos Price Analysis XTZ / USD: Jump Start appeared first on Crypto Briefing.

2019-8-9 16:04


Ripple-Promoted Token Price Analysis XRP / USD: The Moment Of Truth

The Ripple-promoted token has a bearish short-term trading bias, with the XRP / USD pair remaining below its 200-period moving average on the four-hour time frame A bearish head and shoulders pattern is still in play on the four-hour time frame The daily time frame shows that the XRP / USD pair is pressing against […] The post Ripple-Promoted Token Price Analysis XRP / USD: The Moment Of Truth appeared first on Crypto Briefing.

2019-8-8 17:45


Lambda Price Analysis LAMB / USD: Going Strong

Lambda has a bearish short-term bias, with price still trading below key technical resistance on the four-hour time frame The four-hour time frame shows that a large inverted head and shoulders pattern is building The daily time frame highlights that the cryptocurrency is attempting to build strength above its 50-day moving average Lambda / USD […] The post Lambda Price Analysis LAMB / USD: Going Strong appeared first on Crypto Briefing.

2019-8-8 17:02


Verge Price Analysis XVG / USD: Ambivalent Signals

Verge has a bearish short-term bias, with the cryptocurrency trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that a bearish head and shoulders pattern has reached its full downside projection The daily time frame is showing that the XVG / USD pair is still trading within a […] The post Verge Price Analysis XVG / USD: Ambivalent Signals appeared first on Crypto Briefing.

2019-8-8 16:16


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin (BTC) Wallets Cross 48 Million for the First Time

Bitcoin has hit another milestone in its rocky journey towards global mainstream adoption. Surpassing 2022 figures in the process. The post Bitcoin (BTC) Wallets Cross 48 Million for the First Time appeared first on BeInCrypto.