• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: SEC Accuses Crypto Giant Justin Sun And Lindsay Lohan Of Securities Law Violation
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: SEC Accuses Crypto Giant Justin Sun And Lindsay Lohan Of Securities Law Violation
bitcoin price chart
Advertisement

Bitcoin Price Analysis: Bulls and Bears Starting to Feel the Pinch

filb filb by filb filb
4 years ago
in Bitcoin Price, Bitcoin, News, News teaser, Trading
0
Advertisement

Bitcoin price ran up to $3700 but that moved has been capped for almost a week, with price meandering in a tight range with failed breakouts to both the up and downside much to the frustration of the bears and the bulls.  This now looks as though it could be coming to a conclusion.


Bitcoin Price: 4-Hour Chart

Looking at the 4-hour chart, it reveals that Bitcoin price [coin_price]  has been attempting to form a bullish flag, which would imply that a run to $4,000 would be possible if there was a volumous breakout above $3600.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

In a bull market, we would typically expect the bulls to hold the 38.2% Fibonacci retracement, which is now under assault, with the MAC-D also turning bearish suggesting that the bulls are losing steam.

The VPVR, which illustrates the volume being traded at a given price (within a given range), shows that unless the bulls can hold $3520. It is likely we will get a fast move into the $3400 range, where the 61.8% and 78.6% Fibonacci retracement levels lie. These typically interest those who have previously secured profits.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

1-Day

The 1-day chart shows us that the impulsive bullish move has been capped by the declining resistance, which dates back to the bounce over Christmas during 2018.

The 200-week movin average has provided strong support to date and is quickly beginning to catch up with price and the overhead declining diagonal resistance.

This pinch point is looking increasingly likely to become an point of inflection in this market that will ultimately dictate price action for many weeks to come.

However, this could take until the end of March to play out as there is little selling interest in the low $3,000s and little buying interest as we move towards $4,000. In short, something will have to give through time.

Macro Chart

Looking at the macro chart for clues, it is clear that there is an uncanny resemblance between 2015 and 2018 with just over 60 weeks to go before the block reward halvening.

The 200-week MA is acting as support. The 50 and 100-week moving averages are about to cross and the logarithmic line of regression is passing through the 100 and 50 MA convergence, shortly after the price has been scythed in half.

You may be forgiven for thinking that exactly the same scenario is being played out, but the main difference is that there has not been a significant bump in the volume and bounce in the price when the 200-week MA was tested. This has led some to doubt that the bottom has been found as in 2015. But as we mentioned earlier, we are likely to find out in due course.

Trade Bitcoin, Litecoin and other cryptocurrencies on online Bitcoin forex broker platform evolve.markets.  

To get receive updates for the writer you can follow on Twitter (@filbfilb) and TradingView.

The views and opinions of the writer should not be misconstrued as financial advice.  For disclosure, the writer holds Bitcoin at the time of writing.


Images courtesy of Tradingview.com, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

filb filb

filb filb

Related Posts

Bitcoin

Bitcoin Under $27,000 As Short-Term Holders Lock In Highest Profits Since Nov. 2021

7 hours ago
Crypto.Com Became The10th Largest BONE Holder

Crypto.Com Became The10th Largest BONE Holder

9 hours ago
crypto bitcoin greed

Crypto Investor Sentiment Returns To Bitcoin All-Time High Levels

12 hours ago
Bitcoin

Bitcoin Transactions Rise, But Exchange Activity Remains Flat: Glassnode

13 hours ago
Bitcoin

Bitcoin To Become Sought-After Asset Over Traditional Finance, This Analyst Says

16 hours ago
Bitcoin vs CBDC

US Government Attacks Bitcoin In New Report While Promoting A CBDC

20 hours ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Importance of RenQ Finance (RENQ) in the DeFi world even...

    17 mins ago
  • ScalingX and Buidlbox Partner to Host “The Hunt for...

    10 hours ago
  • Chirpley Spreads its Wings to Silicon Valley through...

    12 hours ago
  • Top 5 Cryptos To Surge 30x In The Upcoming Bull Market 2023

    15 hours ago
  • The bank Collapse shows the world the significance of...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.