Bitcoin Price Analysis: BTC/USD reaches new 2019 peak

  • BTC/USD went up from $5,393 to $5,680 this Friday.
  • Bitcoin achieved a $100 billion market cap for the first time in 2019.

BTC/USD bulls had a field day this Friday as they managed to break past several critical resistance levels and reach a new 2019 high. The price went up from $5,393 to $5,680, as bulls broke past the critical $5,450 and $5,550 resistance levels. The buyers will now want to leverage their momentum and test the $5,700, and eventually, the $6,000 resistance levels. In the process, Bitcoin's marketcap also exceeded $100 billion for the first time in 2019.

BTC/USD Daily Chart

  • The price was trending upwards in a channel before it eventually broke out.
  • The price is trending above the SMA 200, SMA 50, and SMA 20 curves.
  • The signal line has converged with the MACD line to indicate that the market momentum has shifted from the bears to the bulls.
  • The two latest sessions of the Elliot wave oscillator are bullish.
  • The relative strength index (RSI) indicator has entered the overbought zone, which indicates an upcoming bearish correction.


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.