• BTC/USD risks skewed to the downside as long as the price stays below $5,246
  • The long-term support is located at $4,600.

Bitcoin (BTC) managed to get back above $5,200 handle after a short-lived dip to the intraday low of $5,160. The first digital coin has lost 2.2% since the beginning of the day, thought it is mostly unchanged on a day-on-day basis. Basically, the market continues oscillating in a recent range amid declining volatility. 

Looking technically, BTC/USD broke below the short-term trendline currently at $5,246. If the price doesn’t move back above this area, in the nearest future, the sell-off may gain traction with the next focus on psychological $5,100 strengthened by SMA50 (4hour) and SMA200 (1hour). The next support comes at $5,000. From the longer-term point of view, the recovery is still valid as long as BTC/USD stays above $4,600-$,570 area intensified by DMA200.  

On the upside, the recovery is limited by the above said trendline ($5,246), followed by $5,300. Meanwhile, the ultimate short-term resistance lies with $5,350 (strengthened by double high of April 3 and April 8). Once it is cleared, the upside momentum will gain traction with the next aim at $5,500. 

BTC/USD, 4H chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: BTC/USD needs $10,200 to blast towards $11,000 – Confluence Detector

A newly released research by Arcane Research says that Bitcoin dominance is at 90% and not 70% as has been widely accepted. The report is published by Forbes is causing quite a stir in the market.

More Bitcoin News

IOTA conquers the 50 SMA following in the footsteps of Ethereum Classic

IOTA price is back in the green alongside several other cryptocurrencies. The grandparent cryptocurrencies Bitcoin is still nursing wounds after the bear’s mauling. $0.2325 - $0.2350 is coming up as an incredible support area. 

More IOTA News

Cryptocurrency market update: Bitcoin real market dominance is 90% leaving altcoins with a mere 10%

New research is showing some interesting features regarding the total market capitalization in the cryptocurrency market. The report published by Forbes on August 22 claims that Bitcoin has a 90% dominance in the market.

More Cryptocurrencies News

Ethereum Classic on full throttle: ETC breaks away from Bitcoin and the park

In a Bitcoin bearish market, Ethereum Classic defies the general trend to post impressive gains. In fact, the crypto has been breaking one barrier after another from Monday this week. 

More Ethereum Classic News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast