{"id":378586,"date":"2019-04-16T06:30:11","date_gmt":"2019-04-16T06:30:11","guid":{"rendered":"https:\/\/wncen.com\/?p=378586"},"modified":"2024-06-11T12:55:11","modified_gmt":"2024-06-11T12:55:11","slug":"bitcoin-price-prediction-btc-bulls","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-prediction-btc-bulls\/","title":{"rendered":"Bitcoin Price Prediction: BTC Bulls Waiting On Sidelines To Go Big"},"content":{"rendered":"<ul>\n<li>Bitcoin price struggled to break the $5,190-5,200 resistance area and declined against the US Dollar.<\/li>\n<li>The price revisited the $4,940 support area and recently rebounded above $5,000.<\/li>\n<li>There is a crucial bearish trend line forming with resistance at $5,110 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could struggle in the short term, but bulls remain in control above $4,900.<\/li>\n<\/ul>\n<p><em>Bitcoin price is showing a few signs of weakness against the US Dollar. However, BTC bulls are likely to protect dips near the $4,940 and $4,900 support levels in the near term.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>Yesterday, we saw a <a href=\"https:\/\/wncen.com\/2019\/04\/15\/bitcoin-btc-price-on-rise\/\" target=\"_blank\" rel=\"noopener noreferrer \">steady rise<\/a> from the $4,940 support in bitcoin price against the US Dollar. The BTC\/USD pair climbed above the $5,100 and $5,160 resistance levels. There was also a break above the $5,180 level, but the price struggled near the $5,190 resistance area (the previous support). Besides, it failed to surpass the 50% Fib retracement level of the last slide from the $5,465 high to $4,920 low. There was a topping pattern formed and the price declined below the $5,100 and $5,000 support levels.<\/p>\n<p>It revisited the $4,940 support area and traded as low as $4,943. Recently, it rebounded higher and traded above the $5,000 resistance. Besides, bulls pushed the price above the $5,050 level and the 50% Fib retracement level of the recent drop from the $5,190 high to $4,943 low. However, the price is facing a strong resistance near the $5,090 level and the 100 hourly simple moving average. Besides, the 61.8% Fib retracement level of the recent drop from the $5,190 high to $4,943 low is also a hurdle.<\/p>\n<p>More importantly, there is a crucial bearish trend line forming with resistance at $5,110 on the hourly chart of the BTC\/USD pair. Above the trend line, the <a href=\"https:\/\/wncen.com\/2019\/04\/14\/bitcoin-price-btc-uptrend-intact\/\" target=\"_blank\" rel=\"noopener noreferrer \">main resistance<\/a> for bitcoin buyers is near the $5,190-5,200 zone. Therefore, it won\u2019t be easy for bulls to gain traction above the $5,100 resistance in the short term.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-378589\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?resize=1828%2C868\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Bitcoin-16.png?w=1140 1140w\" sizes=\"auto, (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 might face offers near the $5,100 and $5,110 levels. If it breaks the $5,110 resistance, it may retest the $5,200 resistance zone. If not, there is a chance of another downside push towards the $4,940, $4,920 and $4,900 support levels. A significant decline below $4,900 is very unlikely and bulls could buy big if there is a dip towards $4,900 or even $4,850.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly moving back in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD recovered above 40, but it is still below 50.<\/p>\n<p>Major Support Levels \u2013 $5,000 followed by $4,940.<\/p>\n<p>Major Resistance Levels \u2013 $5,090, $5,110 and $5,190.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price struggled to break the $5,190-5,200 resistance area and declined against the US Dollar. The price revisited the $4,940 support area and recently rebounded above $5,000. There is a crucial bearish trend line forming with resistance at $5,110 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could struggle in the short term, but bulls remain in control above $4,900. Bitcoin price is showing a few signs of weakness against the US Dollar. However, BTC bulls are likely to protect dips near the $4,940 and $4,900 support levels in the near term. Bitcoin Price Analysis Yesterday, we saw a steady rise from the $4,940 support in bitcoin price against the US Dollar. The BTC\/USD pair climbed above the $5,100 and $5,160 resistance levels. There was also a break above the $5,180 level, but the price struggled near the $5,190 resistance area (the previous support). Besides, it failed to surpass the 50% Fib retracement level of the last slide from the $5,465 high to $4,920 low. There was a topping pattern formed and the price declined below the $5,100 and $5,000 support levels. It revisited the $4,940 support area and traded as low as $4,943. Recently, it rebounded higher and traded above the $5,000 resistance. Besides, bulls pushed the price above the $5,050 level and the 50% Fib retracement level of the recent drop from the $5,190 high to $4,943 low. However, the price is facing a strong resistance near the $5,090 level and the 100 hourly simple moving average. Besides, the 61.8% Fib retracement level of the recent drop from the $5,190 high to $4,943 low is also a hurdle. More importantly, there is a crucial bearish trend line forming with resistance at $5,110 on the hourly chart of the BTC\/USD pair. Above the trend line, the main resistance for bitcoin buyers is near the $5,190-5,200 zone. Therefore, it won\u2019t be easy for bulls to gain traction above the $5,100 resistance in the short term. Looking at the chart, bitcoin price might face offers near the $5,100 and $5,110 levels. If it breaks the $5,110 resistance, it may retest the $5,200 resistance zone. If not, there is a chance of another downside push towards the $4,940, $4,920 and $4,900 support levels. A significant decline below $4,900 is very unlikely and bulls could buy big if there is a dip towards $4,900 or even $4,850. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving back in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD recovered above 40, but it is still below 50. Major Support Levels \u2013 $5,000 followed by $4,940. Major Resistance Levels \u2013 $5,090, $5,110 and $5,190.<\/p>\n","protected":false},"author":67,"featured_media":344599,"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-378586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Prediction: BTC Bulls Waiting On Sidelines To Go Big<\/title>\n<meta name=\"description\" content=\"Bitcoin price is showing a few signs of weakness against the US Dollar. 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