• 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
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
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin (BTC) Tepidly Advances Above 4,100 as Upwards Momentum Slows

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
Bitcoin BTC
Advertisement

After rapidly surging to above $4,200 before plummeting back below $4,100 on Saturday, Bitcoin (BTC) has been able to incur some upwards momentum that has allowed it to tepidly move above $4,100.

It is important to note that Bitcoin’s strongest level of resistance exists at $4,200, but analysts are expressing cautious optimism regarding the current state of the cryptocurrency’s price.

Bitcoin Breaks Above $4,100 After Yesterday’s Volatility 

At the time of writing, Bitcoin is trading up marginally at its current price of $4,105. Over the past couple of weeks, $4,100 has proven to be a level of resistance for BTC, and it is unclear if the crypto’s bulls will garner enough buying pressure to flip this price into a level of support going forward.

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

Yesterday, Bitcoin experienced large volatility that entailed a sudden surge to $4,230 that was immediately proceeded by a drop to below $4,100. This price surge was strikingly similar to one seen in late-February, where BTC surged from $3,900 to $4,200 before spiraling downwards towards $3,700.

These two price moves have made it clear that $4,200 is a strong level of resistance, and that Bitcoin will require a significant influx of buying pressure to propel its price above this level.

Chonis Trading, a popular cryptocurrency analyst on Twitter, recently shared his thoughts on Bitcoin’s price action in a short video, noting that BTC faced resistance at its upper Bollinger Band, but still is technically in a bullish trend.

“$BTC – quick update on #bitcoin daily chart… Current rejection off upper BB, with spinning top candle formed after finding support from previous range rejection area now turned support…RSI Stoch, MACD, still bullish trending with slowing momentum,” he explained.

$BTC – quick update on #bitcoin daily chart

-current rejection off upper BB, with spinning top candle formed after finding support from previous range rejection area now turned support
-RSI Stoch, MACD, still bullish trending with slowing momentum
Week Month Quarter close Sun. pic.twitter.com/eRLabyc1A0

— Big Chonis Trading? (@BigChonis) March 30, 2019

Bitcoin Struggles to Break Above Yearly Downwards Resistance Level

Over the past year, Bitcoin has been caught below a downwards resistance level which has continued to put bearish pressure on BTC’s price.

The Cryptomist, a popular cryptocurrency trader on Twitter, discussed this resistance level in a recent tweet, noting that she expects the crypto to face one more downwards break before it garners enough buying pressure to break above this resistance level.

“$BTC Weekly resistance right on the money! The daily candle is being rejected by the downtrend resistance that has held us in for a year… Double top on RSI suggest we may not break right now… My gut feeling – need 1 more leg down before break… When we do break, long green candle,” she explained.

$BTC

Weekly resistance right on the money!
The daily candle is being rejected by the downtrend resistance that has held us in for a year
Double top on RSI suggest we may not break right now
My gut feeling – need 1 more leg down before break
When we do break, long green candle! pic.twitter.com/VBaGN4saOZ

— The Cryptomist (@TheCryptomist) March 30, 2019

As the new week begins, it is likely that traders and analysts alike will discover whether or not $4,100 will be established as a fresh support level, and whether Bitcoin will continue to struggle to break above $4,200.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare96
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

takaxa

Taraxa’s Steven Pu on the Elephant-in-the-Room Problem With Informal Transactions, and How He Drives the dApps Adoption With Slack-Inspired Go-to-Market

5 hours ago
Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

1 day ago
Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

1 day ago
Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

1 day ago
How to Maximize Your Yield Farm Gains

How to Maximize Your Yield Farm Gains

2 days ago
Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

Bitcoin Exchange Coinbase to Go Public; What Does It Mean for BTC/USD?

2 days ago

Premium Partners

Top Brokers

eToro

eToro

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
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

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 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 +

© 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.