TRENDING:
Fed interest rate
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Price Forecast: BTC/USD bulls have a chance that must be taken

  • Bitcoin price is trading in negative territory, down 2.00% in the second half of the session. 
  • The price action has narrowed over the last three sessions, following a range breakout. 
  • A chunky barrier at the $7000 price mark remains a problem for the bulls. 
Bitcoin Price Forecast: BTC/USD bulls have a chance that must be taken
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

Trading conditions have tightened again, after a range breakout on 23 March. Another wave of buying pressure will be seen should the bulls edge above again. An opportunity to break out of a bullish pennant. 

BTC/USD 60-minute chart

The near-term range-bound nature of BTC via the  60-minute builds the case for an aggressive breakout. 

Spot rate:                 6618.25

Relative change:      -2.00%

High:                        6874.74

Low:                         6595.39

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
Share:

Editor's Picks

Ripple falls below $1.20 despite Africa stablecoin payments push

Ripple falls below $1.20 despite Africa stablecoin payments push

XRP corrects to trade below $1.20 following early-week rejection at $1.28 and broader crypto market weakness. XRP remains under pressure from declining major moving averages, undermining the MACD buy signal.

Crypto Today: Bitcoin, Ethereum, XRP trim breakout gains as focus shifts to Fed decision

Crypto Today: Bitcoin, Ethereum, XRP trim breakout gains as focus shifts to Fed decision

Cryptocurrency prices broadly decline as investors show caution toward risk assets ahead of the Fed's interest rate decision on Wednesday. Bitcoin (BTC) holds around $65,000 after correcting from its Monday high of $67,292.

Ondo Price Forecast: Multiple trendline rejections, fading bullish momentum warn of a steeper correction

Ondo Price Forecast: Multiple trendline rejections, fading bullish momentum warn of a steeper correction

Ondo price hovers around $0.3700 at press time on Wednesday, maintaining a broader corrective phase under the influence of a resistance trendline. Retail demand for ONDO remains firm, driven by the tokenization trend for traditional stocks and other Real World Assets.

Bitcoin steadies near $66,000 as markets await first Warsh-led Fed decision

Bitcoin steadies near $66,000 as markets await first Warsh-led Fed decision

Bitcoin steadies near $66,000 at the time of writing on Wednesday as investors await the Fed’s interest rate decision. Institutional demand shows slight improvement as spot Exchange Traded Funds recorded a mild inflow on Tuesday, after weeks of outflows.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.