• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Investors May Soon Have “Massive Opportunity” as BTC Targets $4,200

Cole Petersen by Cole Petersen
10 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
Bitcoin Stock Market S&P 500
Advertisement
Listen to Article

Bitcoin has been able to continue climbing higher today, with the ongoing rebound in the equities market allowing Bitcoin to further extend the momentum that was first incurred last week when the cryptocurrency rallied from the lower $5,000 region to highs of $6,900.

The benchmark cryptocurrency is now attempting to re-test these highs, although it remains unclear as to whether or not bulls will be strong enough to propel it past this level.

One prominent analyst is noting that although he is highly bullish on Bitcoin in the long-term, he does believe that it will target the lower-$4,000 region before it is able to garner any notable buying pressure.

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

Bitcoin Rallies Towards $7,000 as Analysts Eye Imminent Rejection

At the time of writing, Bitcoin is trading up over 5% at its current price of $6,560, which marks a notable climb from daily lows of roughly $6,000 that were set just prior to its latest rally.

This uptrend has allowed the crypto to once again test the heavy resistance it has within the upper-$6,000 region, with the crypto facing a slight rejection at this level that has led it to decline slightly.

In the near-term, analysts seem to believe that BTC’s inability to break above this key resistance could be a dire sign for it in the near-term.

UB – another popular cryptocurrency analyst on Twitter – explained in a recent tweet that he believes Bitcoin is poised to see a “rug pull” that could lead it significantly lower in the near-term.

“BTC – Triple Raid of stops. High for the day is in imo. This is setup for a rug pull. It’ll be worth watching the reaction after taking the lows at ~$6,150. I may close my short depending on what happens there. Failure to SFP the lows and I have my eyes on $5.9k,” he explained.

$BTC – Triple Raid of stops. High for the day is in imo. This is setup for a rug pull.

It'll be worth watching the reaction after taking the lows at ~$6,150. I may close my short depending on what happens there.

Failure to SFP the lows and I have my eyes on $5.9k. #Bitcoin pic.twitter.com/NI4uPjgkdy

— UB (@CryptoUB) March 24, 2020

BTC May Not See Any Significant Bullishness Until It Reaches This Level

Crypto Michaël, another well-respected cryptocurrency analyst on Twitter, explained in a recent tweet that he believes Bitcoin may test $4,200 before it is able to find enough support to spark the next notable bull run.

“Short term; We might be seeing high volatility and might be testing the levels at $4,200 or $4,800. Long term; I can’t be more bullish on crypto and commodities, knowing what measures are taken everywhere. These low levels are just massive opportunities. In my opinion,” he explained.

Short term; We might be seeing high volatility and might be testing the levels at $4,200 or $4,800.

Long term; I can't be more bullish on crypto and commodities, knowing what measures are taken everywhere.

These low levels are just massive opportunities.

In my opinion.$BTC

— Crypto Michaël (@CryptoMichNL) March 24, 2020

If Bitcoin is unable to break through the resistance it faces within the upper-$6,000 region, it is highly likely that it will see significantly further downside, although its mid-to-long term outlook is incredibly bright from a price-perspective.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare14
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

3 days ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

3 days ago
btcu

The Brilliant Minds Behind the BTC Ultimatum Project, and Their New CEO, Eric Ma

3 days ago
Can Blockchain Help Enterprises Navigate GDPR Headaches?

Can Blockchain Help Enterprises Navigate GDPR Headaches?

3 days ago
altcoins bitcoin crypto alt season altcoin xrp ethereum ripple litecoin

Centralized Wealth: The Downside To Institutional Bitcoin Buying

4 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


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

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 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.