{"id":377715,"date":"2019-04-09T06:30:16","date_gmt":"2019-04-09T06:30:16","guid":{"rendered":"https:\/\/wncen.com\/?p=377715"},"modified":"2024-06-11T12:50:45","modified_gmt":"2024-06-11T12:50:45","slug":"bitcoin-btc-price-primed-for-gains-until-bears-break-5000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-price-primed-for-gains-until-bears-break-5000\/","title":{"rendered":"Bitcoin (BTC) Price Primed for Gains Until Bears Break $5,000"},"content":{"rendered":"<ul>\n<li>Bitcoin price remains in a solid uptrend above the $5,070 and $5,000 supports against the US Dollar.<\/li>\n<li>The price is currently correcting lower, but it remains well supported above the $5,000 level.<\/li>\n<li>There is a crucial ascending channel forming with support at $5,075 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could dip a few points towards $5,070 before it starts a fresh increase towards $5,360.<\/li>\n<\/ul>\n<p><em>Bitcoin price is currently correcting lower below $5,251 against the US Dollar. BTC could test the $5,050-5,070 support before it bounces back towards the $5,300 and $5,360 levels.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>Recently, there was a <a href=\"https:\/\/wncen.com\/2019\/04\/08\/bitcoin-btc-price-defies-gravity-looks-to-trade-higher\/\" target=\"_blank\" rel=\"noopener noreferrer \">slow and steady rise<\/a> towards the $5,300 resistance in bitcoin price against the US Dollar. The BTC\/USD pair broke the $5,250 resistance area, but it failed to surpass the $5,300 resistance. Earlier, the price traded as high as $5,359 and later corrected below the $5,250 level. There was a break below the 23.6% Fib retracement level of the last leg from the $4,900 swing low to $5,360 swing high. The price even traded below the $5,200 level and tested the $5,130 level.<\/p>\n<p>The 50% Fib retracement level of the last leg from the $4,900 swing low to $5,360 swing high acted as a strong support. There was a <a href=\"https:\/\/wncen.com\/2019\/04\/07\/can-bitcoin-btc-buyers-keep-the-rally-going\/\" target=\"_blank\" rel=\"noopener noreferrer \">fresh increase<\/a> above $5,250, but the price topped near $5,300. It is currently moving lower towards a connecting bullish trend line with support at $5,150 on the hourly chart of the BTC\/USD pair. Below the trend line, the 100 hourly simple moving average is positioned at $5,100. More importantly, there is a crucial ascending channel forming with support at $5,075 on the same chart.<\/p>\n<p>In the short term, there could be a downside spike towards the $5,100 or $5,075 support levels. However, buyers are likely to protect more losses below the channel support and $5,050. On the upside, an initial resistance is near the $5,250 level. The next key resistance is at $5,300, above which the price could revisit the $5,360 resistance.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-377716\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?resize=1828%2C868\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-9.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price remains in a solid uptrend and it won\u2019t be easy for bears to push the price below $5,050 or $5,000. Only a successful close below $5,000 might start a substantial downside correction. The next key support is at $4,750. On the upside, a clear break above the $5,300 and $5,360 resistances could set the tone for a push towards $5,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly moving in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD declined recently and seems to be struggling near 50.<\/p>\n<p>Major Support Levels \u2013 $5,100 followed by $5,070.<\/p>\n<p>Major Resistance Levels \u2013 $5,250, $5,300 and $5,360.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price remains in a solid uptrend above the $5,070 and $5,000 supports against the US Dollar. The price is currently correcting lower, but it remains well supported above the $5,000 level. There is a crucial ascending channel forming with support at $5,075 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could dip a few points towards $5,070 before it starts a fresh increase towards $5,360. Bitcoin price is currently correcting lower below $5,251 against the US Dollar. BTC could test the $5,050-5,070 support before it bounces back towards the $5,300 and $5,360 levels. Bitcoin Price Analysis Recently, there was a slow and steady rise towards the $5,300 resistance in bitcoin price against the US Dollar. The BTC\/USD pair broke the $5,250 resistance area, but it failed to surpass the $5,300 resistance. Earlier, the price traded as high as $5,359 and later corrected below the $5,250 level. There was a break below the 23.6% Fib retracement level of the last leg from the $4,900 swing low to $5,360 swing high. The price even traded below the $5,200 level and tested the $5,130 level. The 50% Fib retracement level of the last leg from the $4,900 swing low to $5,360 swing high acted as a strong support. There was a fresh increase above $5,250, but the price topped near $5,300. It is currently moving lower towards a connecting bullish trend line with support at $5,150 on the hourly chart of the BTC\/USD pair. Below the trend line, the 100 hourly simple moving average is positioned at $5,100. More importantly, there is a crucial ascending channel forming with support at $5,075 on the same chart. In the short term, there could be a downside spike towards the $5,100 or $5,075 support levels. However, buyers are likely to protect more losses below the channel support and $5,050. On the upside, an initial resistance is near the $5,250 level. The next key resistance is at $5,300, above which the price could revisit the $5,360 resistance. Looking at the chart, bitcoin price remains in a solid uptrend and it won\u2019t be easy for bears to push the price below $5,050 or $5,000. Only a successful close below $5,000 might start a substantial downside correction. The next key support is at $4,750. On the upside, a clear break above the $5,300 and $5,360 resistances could set the tone for a push towards $5,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD declined recently and seems to be struggling near 50. Major Support Levels \u2013 $5,100 followed by $5,070. Major Resistance Levels \u2013 $5,250, $5,300 and $5,360.<\/p>\n","protected":false},"author":67,"featured_media":328922,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-377715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Primed for Gains Until Bears Break $5,000<\/title>\n<meta name=\"description\" content=\"Bitcoin price is currently correcting lower below $5,251 against the US Dollar. 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BTC could test the $5,050-5,070 support before it bounces back towards the $5,300 and $5,360 levels.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin-btc-price-primed-for-gains-until-bears-break-5000\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin (BTC) Price Primed for Gains Until Bears Break $5,000","og_description":"Bitcoin price is currently correcting lower below $5,251 against the US Dollar. 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