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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • 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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Is Bitcoin Poised to Pullback, Time For More Accumulation Before Bull Run?

Martin Young
Martin Young
6 years ago
2 mins read
us, LocalBitcoins Volumes, bitcoin

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.

Major signals are flashing bearish at the moment for Bitcoin. While it has held on to gains this month a break higher has not been forthcoming so the only way for BTC in the short term could be back down again, at least according to a number of technical analysts.

Major Resistance at 50 Week MA

According to TradingView’s charts Bitcoin is trading at $5,500 however this includes the ‘Bitfinex premium’. Elsewhere BTC prices are closer to $5,250 where they have been since the Tether imbroglio at the end of last week. Since the rally began at the beginning of April Bitcoin has hit a 2019 high of $5,650 on the 24th but has dropped back over the past few days.

Looking at the longer term weekly charts it is clear to see there is massive resistance at this current level where the 50 week moving average lies.

$BTC Weekly Chart (GDAX exchange).

The no indicator chart. Doesn't take rocket science to figure out where resistance is.#BTC pic.twitter.com/CQ9TQfw5rf

— CryptoFibonacci (@CryptoFib) April 30, 2019

This long term indicator served as resistance before during the middle of last year and has been above the price levels for the entire bear market. A break above it would signal a major move upwards but most are of the opinion that things will turn south again before any serious trend reversal can be measured.

The ‘golden cross’ on the day chart also happened on the 24th but it has yet to be fully confirmed since the uptrend has not continued at Bitcoin has remained in a sideways channel. On the low side is the 200 day moving average which is likely to serve as support if Bitcoin falls back. This is currently positioned around the $4,500 price range.

Other signals such as Bloomberg’s GTI Vera Convergence Divergence indicator have also just turned bearish showing the first ‘sell’ call since mid-March. Several industry observers are still blaming the Bitfinex Tether fiasco for the cessation of momentum and the end of Bitcoin’s current rally. Analysts on twitter have shared this sentiment with further predictions, some calling for a fall to $4,000 before any leveling out at support.

A pullback may not be the worst thing to happen since many are waiting in the wings to accumulate more satoshis at a lower price. The next phase of accumulation will be the catalyst to drive the next rally which should see these major resistance levels broken.

Some Still Bullish

Not all are bearish and some still see more upwards momentum. Crypto analyst going by the moniker ‘Bleeding Crypto’ posted;

“There is a $30 million dollar wall directly above the current price of BTC. Will this act as fuel for another move up like its done in the past or will there be a resistance wall for the current PA. We will have to wait and see. I vote UP! Only time will tell. #Patience”

$BTC There is a $30 million dollar wall directly above the current price of BTC. Will this act as fuel for another move up like its done in the past or will the be a resistance wall for the current PA. We will have to wait and see. I vote UP! Only time will tell. #Patience pic.twitter.com/IBoOIgw83m

— Bleeding Crypto (@Bleeding_Crypto) April 30, 2019

Either way things are not looking bad for Bitcoin regardless of where markets go next. A pullback means more accumulation at better prices and a swing to the upside will pull the entire market back up with it.

Image from Shutterstock
Tweet123Share285ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

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

Cardano

Cardano Founder Says Chainlink Quoted Them An ‘Absurd Price’, Here’s Why

Cardano’s founder, Charles Hoskinson, has clarified why the blockchain platform was excluded from a prominent US government initiative meant to...

Scott Matherson 4 hours ago
hyperliquid price surge

Hyperliquid Hits $400B Trading Volume and $100M Revenue as HYPE Price Eyes $55 Breakout

Hyperliquid is slowly building a name within the decentralized finance (DeFi) sector. In August, the platform recorded nearly $400 billion...

James Halver 5 hours ago

Bitcoin And Ethereum Exchange Inflows Overshadow Stablecoin Demand – Details

Bitcoin is once again at the center of market turbulence, trading just above the $110,000 level, which many analysts view...

Sebastian Villafuerte 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

Ethereum price prediction Tom Lee news

Ethereum Skyrocket Math: Tom Lee Charts Path To $62,500

Jake Simmons 16 minutes ago
crypto ethereum bitcoin eth ethusd btc btcusd

Spot Crypto Trading Gets Major Green Light From US Regulators

James Halver 2 hours ago
Ethereum

Ethereum Network Activity Surges As Daily Transactions Reach 12-Month Peak — Details

Godspower Owie 3 hours ago

Premium Sponsors

Press Releases

  • Zo 750 $ na 1 500 000 $: v roku 2021 Shiba Inu, v roku 2023 Pepe Coin – ktorý „penny“ token bude ďalší?

    Zo 750 $ na 1 500 000 $: v roku 2021 Shiba Inu, v roku 2023...

    3 hours ago
  • イーサリアム...

    3 hours ago
  • ビットコイン...

    4 hours ago
  • 750 dollárból 1 500 000 dollár: 2021-ben Shiba Inu...

    4 hours ago
  • Zamjena 750 USD u 1.500.000 USD: u 2021. to je bio Shiba Inu, u 2023. Pepe Coin, koji je sljedeći token s potencijalom?

    Zamjena 750 USD u 1.500.000 USD: u 2021. to je bio Shiba...

    4 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.