bitcoin price prediction

Bitcoin down -5.36% from yesterday’s high of $5823,96 bulls seem exhausted

May 4, 2019 5:31 pm Published by Leave your thoughts

In my yesterday’s post I mentioned that when Bitcoin comes down around $5600 or $5550 then I might be tempted to open another long position. While Bitcoin did in fact fall all the way down to $5512, the head and shoulders pattern which has now formed on the hourly has me slightly worried that this is only the beginning of a bigger downward move. All in all it looks rather tempting to go long because the Relative Strength Index is showing overbought signs although it’s not quite at the extremes yet of 30 and below. Furthermore MACD has not yet... View Article

BTC up 8.09% briefly hits $6000 on Bitfinex

May 3, 2019 8:07 pm Published by Leave your thoughts

Bitcoin bulls have been very successful today. For a brief moment the price of Bitcoin reached $6000 on Bitfinex. These levels are something we haven’t seen for almost 6 months now so it’s very refreshing to see Bitcoin make moves again especially after days of sideways trading. Looks like my previous prediction held true as well when I said all is fine if Bitcoin manages to stay above $5000. It always feels good to be right! Bulls take a break for now One of my favorite time frames for day trading Bitcoin is the 10 day chart with 1 hour... View Article

Bitcoin drops -11.76% to $4963, finds support around $5000

April 26, 2019 6:14 am Published by Leave your thoughts

In one swift move Bitcoin just cleared most of its winnings that were accumulating in the previous couple of days. For the time being the price seems to have found support around the psychological barrier of $5000. Around the same area lies the 23.6% Fibonacci retracement level. The red candle it formed the day before yesterday showed us that there is a strong resistance at 38.2% Fibonacci retracement or $5532.75. If the price can keep above $5000, we will most likely see a gradual attempt towards the next resistance once more. However should we break the $5000 psychological barrier, there... View Article