Bitcoin (BTC) Reflects Sharp Bullish Move After Hitting $7.1k

The past week has seen the Bitcoin price moving stupendously in the upward range, even under the continual bearish influence. The coin has been moving in the range between $6680 – $7402 over this period. Yesterday, BTC faced steep fall, and as per its movement, it was likely to fall around $7k, but today, it recovers tremendously and regains $7.3k price mark.

Bitcoin Price Analysis

Bitcoin (BTC) Price News

BTC/USD has shown a tremendous upward momentum over the past week, even under a strong bearish outlook. The coin was at $7007.06 on April 03. With the ongoing bearish volatility, the price of Bitcoin went on a downward swing to $6679.56 on the same day, showing a fall of 4.52%. On the next day, the coin marked moderate recovery and traded to $6873.88 by 3.01% hike. However, the currency again faced bearish hold and went down to $6736.33 on April 05.

Further, from this low, Bitcoin took an upward swing and reached a high of $7402.25 yesterday, showing a price rally to the extent of 9.95%. However, at this high, BTC faced rejection and traded downwards and fell to $7153.35. Then, again it marked a steep hike and traded in the upward direction and reached $7353.27 today.

BTC price has shown its mettle even under ongoing volatility. Analysts have always banked on the capability of this coin to deliver great returns and consider it the best bet for the long haul. Investors can continue to hold on to their investments from a long-term perspective.

Bitcoin (BTC) Exhibits Bullish Move & Breaches $7,100

Bitcoin is the resounding leader of the cryptocurrencies. The movement in the coin laid a vital impact on the coins. Recently, BTC is spotted booking colossal improvement, and the same is likely to bring the rally soon. The intraday trading would bring massive returns to the traders. The coming period also looks good for Bitcoin, and thus the investment wouldn’t end up futile.

BTC/USD Forecast

Bitcoin (BTC) Price News

Since the beginning of this month, Bitcoin trades with moderate upside momentum. Yesterday, the currency started dealing at $6,909, and within the next 4 hours, the price dribbled to $6,780 by 1.87% fall. With a spike at $6,840, the coin was spotted, locking its price level around $6,700 for almost 10 hours. At 17:17 UTC, BTC price plunged to $6,701. Then in the next 1 hour and 51 minutes, the price improved to $6,810 by 1.62%. Later, the price slipped to $6,735 by 1.16%. The closing hour of the day took the Bitcoin price to $6,792. The intraday movement reflected 1.74% regression.

Today, BTC started the day with an escalation of 1.17%. The price moved from $6,792 to $6,871. The coin locked at the same level before escalating. At 03:00 UTC, the coin marked a sharp upward move, and thus at 10:36 UTC, the Bitcoin price was at $7,160 by a 4.78% surge. At the time of writing BTC analysis, the price was trading at $7,124 and violated the immediate resistance level at $6,877 and the next resistance level at $6,964 and major resistance level at $7,045.

Bitcoin Remains Above $6700; the Next Swing May Push it to $7000

Amidst daily price fluctuations, Bitcoin has managed to stay above $6700 for the last few days. Over the last 24 hours, it has been up by a mere 0.51%, and the current value stands at $6764.

BTC has begun this month around $6400 but it faced regressive trend and on the same day, it hit $6200 mark. Then, Bitcoin price escalated with tremendous pace and yesterday it has breached $7267. However, after that, it faced steep fall and currently, the coin is trading around $6700 price mark.

Bitcoin Price Analysis

Bitcoin (BTC) Price News

Yesterday, BTC price was at $6730.39 at the starting of the day, and it lost 2.01% by 05:26 UTC and touched the lowest point of the day around $6595.01. It was followed by a steady upside movement and gained 10.20% by 17:04 UTC that added $672.47 and pushed the Bitcoin value to $7267.47, the highest point of the day. However, it couldn’t manage to stay there for long and started trading downwards.

Over the next three and a half hours, the currency went through a steep fall and reached $6688.46. From this low, in the next 2 hours, Bitcoin managed to get a hike of 2.54% value and moved to $6858. At the time of writing this analysis, the coin was trading at a similar range around $6764.

Bitcoin is currently trending above its 20 days MA (6754.24 USD), and its 50 days MA is now at $6766.08. Its RSI is now around 54.61 points. It shows that the possibility of upside trading is ripe and BTC price may cross its immediate resistance around $6.9k soon. We predict a short-term bullish spree for the coin. Investors may find the next resistance around $7055.

Bitcoin News Analysis: BTC Faced Rejection Above $6.5k Overnight

Bitcoin price continues in its pursuit of heavy volatility since the beginning of the year. The past one week has given reason for the community to cheer as the price has traded above $6.6k for the first 3 days, and then, it faced a sharp decline, but later, BTC managed to stay above $6.3k for the most of latter days. Today, the currency marked a steep fall, and the price touched $6.2k mark but later reflected a slight recovery. Over the last 24 hours, BTC price fluctuations have been in the range of $6270 – $6521

BTC/USD Forecast

Bitcoin (BTC) Price News

Yesterday, Bitcoin’s price has kept its moderate trend intact for the most part of the day and traded around $6400. The price was at $6521.39 at 2:00 UTC, and from this high, the currency faced a price drop of 1.88%, and it touched $6398. BTC continued to fight the bear pressure and managed to reach a high of $6495.74 over the next 4 hours.

Further, at 12:19 UTC, Bitcoin reflected a sharp upward move, and then, the coin reached $6502, but at this high, it faced rejection and fell to $6448 in the next 3 hours. With the continual bear pressure, the price of BTC has fallen even below $6275 today, but it recovered immediately to $6373.

Bitcoin has always led the price momentum in the crypto market. The bears did not spare even its price, but the coin has still managed to hold its ground against the strong bearish pressure at regular intervals.

Bitcoin Price Analysis: BTC Retest Key Support at $6.2k

If we look at the weekly price trend of Bitcoin, the price has been improved by 3% despite recent breakout. This growth has been achieved after the last few weeks of sluggish movements. BTC has, however, managed to stay above $6200 in most of the times in this period.

BTC/USD Forecast

Bitcoin (BTC) Price News

The currency opened at $6095 on March 21, and over the next two days, it faced downside correction by 5.17% and tested its crucial support $5780. From this low, the coin marked a sharp upward move and registered a massive hike of 20.52% that added $1186 in the value and pushed BTC price to $6969 by March 25.

After hitting $6.9k, the currency faced steep fall but immediately recovered and traded above $6.7k. Then, it continued to trade in a similar range until the price faced massive downward correction today. Over the last three days, Bitcoin lost more than 10% value and got confined to $6254. Currently, BTC lacks having support from its short-term daily MAs. Its RSI figure stands around 35.72 points, and it also tilted towards the oversold region. After the recent price drop, Bitcoin price may trade even below further and retest its previous support level, $6032 and then $5800 in the upcoming hours.

Bitcoin Price Analysis: BTC Remains Above $6.7k Despite the Volatility

Bitcoin has been able to keep its head above $6700 despite the price fluctuations. Over the last week, BTC has shown positive signs amidst moderate volatility. As per the past week’s price trend, there may not be any significant growth mark in the upcoming few days.

Bitcoin Forecast

On March 24, Bitcoin price was trading above $6200 with bullish influence and continue to reflect moderate upside momentum till today. Yesterday, the currency started the day at $6742, and in the first 4 hours, its value got through a decline of 2.96% and got placed at $6542.96. It was followed by a 6.49% price hike that added $424.78 and pushed the price of Bitcoin to the highest point of the day around $6969 by 09:40 UTC.

Bitcoin (BTC) Price News

Further, BTC couldn’t retain its value at this high for long and started a price correction. By 11:41 UTC, it lost 6.76% value and got confined to $6500. Towards the closing of the day, BTC managed a marginal improvement. It got shot up by 4.25% by 04:04 UTC today, and it touched 6775 USD.

If we look at technical, Bitcoin’s current value at $6712.46 is trending below its daily SMA lines, namely, 20-day & 50-day with a marginal difference.

The RSI of BTC stands around 34.59 points and tilted towards the oversold region. However, it may reverse the trend in the upcoming days, as per the current momentum noticed. The next resistance seems imminent around $6870.07.

Bitcoin Price Analysis: BTC Managed to Breach Crucial Resistance $6.5k

The volatility in the crypto market has remained a hot topic of discussion. Amidst the global crisis due to coronavirus pandemic, the crypto market is keeping the self-quarantine traders entertained by the heavy fluctuations. Yesterday, Bitcoin price was spotted, touching a high at $6,443 and a low at $5,785.

Today, the ratio of a difference between the intraday high and low has lowered. The uptrend seems to be consistent. The day end is likely to bring a colossal recovery in the price of BTC. The same is likely to help the entire market to cope up with the recent volatile phase.

BTC/USD Price Chart

Bitcoin (BTC) Price News

Yesterday, in the first hour, the price of Bitcoin was trading at $5,700, and in the next 30 mins, the coin escalated to $5,923. Then, for the next 11 hours, the currency hovered around the same level. Further, at 13:11 UTC, the price escalated to $6,605 by 13.07% hike but couldn’t hold itself at this high and dropped to $6,164 in the next 2 hours. After that, BTC price escalated, and in the next 8 hours, it went up to $6,566. The day-long movement in the coin brought an upsurge of 15.08% in the price.

Today, Bitcoin started with a moderate movement, but later, the price dropped to $6,442 from $6,651 by 3.15%. Further, the coin marked a strong recovery, and at 09:55 UTC, the price touched $6,817. The coin hovered around the same level and is currently at $6,740.

Recently, BTC has breached the immediate resistance level at $6,645. The next resistance level at $6,874 might get violated in the impending hours. The chances of escalating to the major resistance level at $7,304 are thin. If bearish influence affects the coin in the impending hours, then the immediate support level is formed at $5,986.

Will Bitcoin Bulls Plan a Revenge on the Bears in Short-Term?

  • Bitcoin price has put up a good performance against ongoing bearish pressure as seen from the 30-day price trend

Bitcoin (BTC) seems to be leading the pack of coins, when it came to have a stable upward momentum since the start of the year. The coin has managed to outsmart the strong bear pressure for major part over the past 30 days. The price of BTC was seen moving in the range of $8641 – $10424 in the time period.

Bitcoin Price Analysis:

BTC is wanting to go for a bullish phase in the crypto market as seen from the price movements of the past 30 days. The price of Bitcoin was below the baseline price initially at the start of the month on Feb 05. It then experienced a price rally and reached a high of $10,424.01 on Feb 13, showing a rise of 10.73%. The bears were in no mood to slow down and pushed the price of BTC down to $9,508.38 on Feb 17, marking a regression of 8.68%.

BTC recovered by 7.31% from the momentary downslide on Feb 19 at $10,197.79. The bear pressure had got stronger by then and resulted in the fall of the coin again on Feb 28 at $8,641.23, the fall being at 15.16%. Still the BTC bulls tried for a recovery on Mar 02 and reached $8,915.92, the rise being to the tune of 3.18%. The current day’s price of BTC has risen slightly to $8942.45 showing an upward movement of 0.30%.

Bitcoin (BTC) Price News

Bitcoin price is set to move on from the ongoing bearish volatility in the crypto market, making way for the bulls to re-enter the crypto space. This should work wonders for the investor community according to analysts, who expect BTC to live up to its original reputation of being the leader.