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Bitcoin price Analysis – Bitcoin (BTC) ran hard this week and now appears to be taking a breather and consolidating; or receding to double bottom near $3,200.


What a week! The stock market is closing in on the worst week in a decade. The American government is on the verge of a ‘shut down’ that could extend over the Christmas holidays, Brexit is still happening, Italy can’t manage their debt, and France has been under siege by ‘Yellow Jacket’ protesters for weeks.

Clearly, the world is in a tizzy.

Fortunately, things are looking up for in the world of crypto. Bakkt is on the verge of launching, Bitcoin and Ethereum reclaimed a swath of recently lost territory, and a handful of notable analysts are suddenly feeling quite bullish about crypto’s prospects for 2019.


BTC 4HR Bitcoin Chart

As mentioned above, after a decent 30% move this week, Bitcoin price $3970.92 +1.81% extended above the 200-MA and the 23.6% Fib retracement level to reach $4,172 twice. The current rally appears to have reached a point of exhaustion and bitcoin is pulling back from its high at $4,172.

The pattern of lower lows had been broken but the sharp upward move is still entirely indicative of a trend change as the current range is still far removed from where bitcoin was trading a month ago.

WEEKLY CHART (Bitcoin Price Analysis)

BTC Weekly Chart

The weekly chart shows that the bearish downtrend is still in full effect. Early birds might keep watch for a daily higher low and higher high to follow through on the 4hr chart. Keeping a close eye on volume would be wise.

There is a bullish cross on the MACD, and the RSI has turned upward after being flatlined in oversold territory for some time, both oscillators are worth keeping an eye on as well.

Possible correction targets are near the 200-MA ($3,900), which is also aligned with the 23.6% Fib Retracement level and also at $3,700 – $3,600.

BTC price has slightly dropped below the 20MA and it appears that the coming days will bring a bit of consolidation. But the possibility of waning trading volume over the weekend and next week’s holiday could mean any drastic media announcements of market moves could easily cause Bitcoin to double bottom in the $3,100 – $3,200 zone.


Daily BTC Shorts (Bitcoin Shorts)

Open short positions on Bitfinex have dropped from the most recent all-time high and off the cuff observation is that each time BTC shorts near 40,000 there is a squeeze of varying degree.

Generally, bears remain confident and the high number of shorts supports this. As BTC pulls back and consolidates over the next 24-48 hrs, traders could keep an eye on BTC shorts to see if they slap back on at the more recent top $4,172.

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Why We Could See The Price of Bitcoin Quadruple Within Just a Few Months


Bitcoin is ballooning to new highs… but can it last?

Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin.

We’ve seen the “fear of missing out” contribute to a nosebleed rise in the price of bitcoin BTCUSD, before, and Fundstrat’s Thomas Lee believes we’re about to see it play out again — but even more pronounced.

The outspoken bitcoin backer told clients this week the world’s top cryptocurrency could ride a wave of FOMO all the way up to $40,000 “within a few months,” thanks to better transparency and a breach of the psychological $10,000 barrier.

He pointed to Grayscale Bitcoin Trust GBTC, as a great way to partake in a rally that would be most welcomed by the crypto bulls who had to suffer through a 74% drop in the price of bitcoin last year.

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Bitcoin (BTC) Price Eyes Chart Pattern That Kicked Off Bull Market in 2015



  • Bitcoin’s 50- and 100-candle moving averages on the three-day chart look set to produce a bullish crossover – a sign of bull market momentum. Back in October 2015, the same cross marked the start of a long-term bull market.
  • This time, BTC has already rallied more than 180 percent ahead of the bull cross. As a result, we may not see a big move to the higher side immediately following the confirmation of the bull cross.
  • Prices could rise to $8,400 in the next 24 hours, having witnessed a bearish channel breakout on Wednesday. A break below key 4-hour chart support at $7,910 would weaken the case for a rise to $8,400.

A long-term bitcoin (BTC) price indicator is about to turn bullish for the first time in nearly four years.

The 50-candle moving average (MA) on the three-day chart is trending north and could soon cross above the 100-candle,…

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Bitcoin’s Latest Pullback May Simply Be Part of its Current Uptrend, Here’s Why


Bitcoin and the aggregated cryptocurrency markets have faced increasing selling pressure as of late that appears to have put their recently established upwards momentum in jeopardy. Despite this, BTC and other cryptos have yet to incur any massive influxes of selling pressure that lead to the formation of a quick downwards leg.

Although the recent influx of selling pressure does appear to be bearish, it may all be part of the current uptrend that the markets are in, according to one prominent crypto analyst.

Bitcoin (BTC) Continues Slow Downwards Grind

At the time of writing, Bitcoin is trading down over 2% at its current price of $7,770 and is currently trading just a hair above its 24-hour lows of $7,750.

Over a one-week period, Bitcoin has dropped significantly from its highs of nearly $8,800, which were set last weekend. It appears that the upper-$8,000 region remains a region of significant resistance for the…

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Analysts Foresee Bitcoin Surging to $10,000 Without a Pullback as it Hits $8,947


The bitcoin price jumped on Monday, almost retesting the $9,000-level for the first time since May 2018 in what seemed like a clear bull run.

The world’s leading cryptocurrency climbed as much as 13.5 percent, measured from levels on Sunday noon, and was trading at $8947.88 as of 0100 UTC today on US-based Coinbase exchange. The jump brought bitcoin’s maximum year-to-date gains to 142.40 percent, attesting to the end of 2018’s infamous bearish phase that wiped more than 70 percent of bitcoin value from its all-time high at $20,000.

bitcoin price £10000 May June 2019

(Bitcoin Price Comes Closer to Retesting $9,000 After 12 Months | Image Credits:

Bulls now believe that the cryptocurrency would retest its historic peak once again, even though it remains about $11,500 below the target at the time of this writing. The renewed buying sentiment finds…

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Bitcoin (BTC) Price Party’s Only Getting Started after 2019’s Monster 100% Surge


According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.

Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.

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With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019

Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.


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