• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
technical analysis bitcoin
Nexo Logo

Bitcoin (BTC) Analysts Split but Indicators Pointing at “Buy”

Dalmas Ngetich by Dalmas Ngetich
3 years ago
in Uncategorized
Reading Time: 2 mins read
Advertisement
  • Bitcoin prices stable above $5,000
  • Tyler Jenks of Lucid Investments thinks prices will drop towards $4,200 and even $1,000

Fundstrat’s Bitcoin Misery Index is at around three-year-highs meaning investors are loosening their money purses. Whether that will spur demand, driving Bitcoin (BTC) prices above $6,000 will largely depend on how prices react at $4,800 and $5,500.

Bitcoin Price Analysis

Fundamentals

In a space brimming with FUD, scares, and hype, traders ought to be pragmatic and level-headed to avoid liquidating an undervalued asset at a discount. First, we should note that Bitcoin prices reached highs of $5,500 a few hours after news of NDRC proposing of banning Bitcoin and crypto mining activities.

As absurd as it is, a section did fall for this scare, taking their profits minutes before the slide. Presently, what we have is a retest of $5,000, and after two weeks of solid marching, Bitcoin buyers now face some headwinds, but this is normal considering the double-digit gains of the last few days.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Technically, a correction was in waiting and should we mesh that with Fundstrat’s Bitcoin Misery Index printing 89, last seen in June 2016, then it is clear that prices were ripe for a retracement as BTC is re-valued before the next leg up.

I have not commented on Bitcoin since we broke up through the $4,000-4,200 resistance zone. I believe we are headed back down to that zone and it will not hold. New lows coming. Target of $1,000 unchanged.

— Tyler Jenks (@LucidInvestment) April 11, 2019

All the same, Tyler Jenks believes that Bitcoin will add to their losses in days ahead:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“I have not commented on Bitcoin since we broke up through the $4,000-4,200 resistance zone. I believe we are headed back down to that zone and it will not hold. New lows are coming. The target of $1,000 unchanged.”

Candlestick Arrangements

Bitcoin BTC

Although Bitcoin (BTC) prices may be under pressure, buyers have the upper hand, and rejecting lower lows. At the time of press, Bitcoin was up 3.2 percent in the last week but stable in the previous day as bullish momentum picks up in the 1-and-4-HR charts.

In line with our last BTC/USD trade plan, every low–with prices trending above $4,800, is technically another buying opportunity with first targets first at $5,500 or Apr-10 highs and later $6,000. Even though we have a three-bar bullish reversal pattern, we should also factor in the bullish breakout pattern above $4,500 and the number of transactional volumes behind the propulsion.

Therefore, unless otherwise there is a strong wave of sell pressure driving prices below Apr-2 lows, then we are net-bullish expecting trend continuation towards $6,000.

Tags: bitcoinbtc
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

The Nightly Mint: Daily NFT Recap

The Nightly Mint: Daily NFT Recap

1 hour ago
Bitcoin on-chain metrics

Bitcoin On-Chain Activity Throttled After LUNA Collapse

4 hours ago
Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

4 hours ago
Bitcoin

Bitcoin Trading Volume Plummets Down From Recent Top

8 hours ago
Bitcoin

Bitcoin Sets Record Streak For Bloodliest Weekly Trend yet

9 hours ago
The Metaverse Gaming Platform: A New Way to Play

The Metaverse Gaming Platform: A New Way to Play

9 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Chronoly (CRNO) Takes Number 1 Spot at Project To Invest In 2022 Over Fantom (FTM) and Anchor Protocol (ANC)

May 25, 2022

Pancakeswap to Start Listing Metallika token (METALLIKA)

May 25, 2022

Ariva celebrates 1st year anniversary with impressive achievements in the blockchain industry

May 25, 2022

LBank Exchange Will List Globiance Exchange Token (GBEX) on May 25, 2022

May 25, 2022

LBank and Adanian Labs Powers Hackathons, Blockchain Education, and Ecosystem Development for Africa

May 25, 2022

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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 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.