NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Analyst: Bitcoin Has Stronger Bullish Potential than Altcoins, Here’s Why

Davit Babayan
Davit Babayan
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The bitcoin market’s bullish bias is looking stronger than other altcoins, according to Josh Rager.

The cryptocurrency analyst said Wednesday that bitcoin was among the only crypto assets that managed to jump above a significant resistance level on monthly charts. In contrast, other top crypto assets including Litecoin, Ethereum, and EOS failed to close above a similar level in their respective markets, as shown below.

bitcoin
Bitcoin Price Closing Above a Key Resistive Junction | Source: Josh Rager, Twitter

Historical Significance

Rager considered $4769.03 as a significant resistance level for bitcoin. The horizontal plane had capped an active upside attempt during the September 2017 trading session. As the price broke above that level, it ended up establishing its historical peak towards circa $20,000.

The April trading session saw the coin breaching above $4,769. The move led Rager to make a medium-term bull bias case for bitcoin, stating that if bitcoin stays above $4,769, then its probability of hitting a fresh 2019 high above $6,000 will be higher.

“I would love to long/buy on a Bitcoin pullback at $4,339-4,769 zone. [The price] has room to push up over $6,383 on 1M Chart so no promises on a pullback at this moment.”

As for other altcoins, their April price action mirrored the moves made by bitcoin in the recent months. But almost all of them were looking at their uptrends undergoing a fresh downside correction.

https://twitter.com/Josh_Rager/status/1123544972702175232

Litecoin, for instance, briefly underwent a pullback after jumping above $74.80, its resistance from September 2017. Ethereum performed a similar stunt after correcting lower ahead of testing its $200-resistance. EOS too dropped lower amidst high selling sentiment near $5.921.

“BTC looks stronger and closed above resistance while other alt majors hit resistance & pulled back,” Rager stated. “Once we hit between $6300 to $6400 would be a time to short. So, I still think it could push up than pull back in May early June.”

Bitcoin Weaker in 2019

Rager’s prediction is more favorable towards bitcoin despite the cryptocurrency’s weaker buying sentiment against the top altcoins this year. Every since it established a low towards $3,100, the BTC/USD pair has recovered by 72 percent. The attractive rebound nevertheless is dwarfed by the rebounds in other coin markets.

https://www.youtube.com/watch?v=bMG2Nq44gzc

Bitcoin’s forked version Bitcoin Cash, for instance, jumped 284 percent upon hitting a low towards $73.54 last December. Similarly, the litecoin price ballooned 228 percent, rising from its cycle low of $22.43 to $72.67, its rate at the press time. EOS also rebounded by more than 200 percent in just four months, while Ethereum, at a decent 95 percent recovery, also remained ahead of bitcoin.

But the fact that most of those altcoins are pulling back while, at the same time, bitcoin is holding on to its April profits, indicates that traders are moving back to the bitcoin market.

Bitcoin’s dominance in the cryptocurrency market is close to 54 percent at the time of this writing.

Tweet123Share196ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Flips Key Support, Bulls Now Target $117,000

Bitcoin (BTC) has reached a critical turning point, successfully flipping a key horizontal support zone that previously acted as resistance....

Godspower Owie 4 hours ago
Bitcoin

Here’s How The Bitcoin Price Macro Correction Could Play Out Next

Despite experiencing a significant plunge from ATH levels earlier last month, the Bitcoin price continues to test crucial levels that...

Scott Matherson 5 hours ago
Crypto

Crypto Pundit Gives Reasons Why Investors Should Be Extra Bullish On XRP

Many crypto analysts and investors are very bullish on XRP, providing lofty price targets. However, Austin Hilton, a popular crypto...

Scott Matherson 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Kommt 2025 noch eine Altcoin Season?

georgsteiner 22 minutes ago
Ethereum

Ethereum Daily Chart Turns Green As ETHBTC Prepares For Lift-Off

Godspower Owie 1 hour ago
Dogecoin

The Dogecoin Bullish Reset: A Clear Roadmap To $0.35

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    17 hours ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    17 hours ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    18 hours ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    18 hours ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    18 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. 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.