BITCOIN FORECAST, BTC PRICE ACTION - 05 APRIL 2019

05 APRIL 2019 | Darcy K. Butcher, MA, Journalist | Pacific Rim International

BITCOIN

• The current price of Bitcoin is 5021.590 USD today.

• After a long period of consolidation Bitcoin the cryptocurrency market was wild this past week. Bitcoin and other digital coins rallied to new highs within several hours on Monday April 01, 2019. Many assets settled at resistance which became support.

• The total capitalization of the cryptocurrency market ranged upward and hit $185 Billion on Thursday and has been holding to its retracemement of $174 Billion range. What’s more, in a flash, an average daily trading volume catapulted to $89B, which marks a new the ATH (all-time high).

For the first time in five months #BTC has been testing the 21 EMA. Bitcoin has now expanded further to test $5050 range on many exchanges. A test down to $4900 and then $4680 range can be an expected healthy consolidation for the short term. If the lows are in for Bitcoin confirming lower areas may still be in play for the Bears as lo as the $4000 area.

• BTC was at $4970 a week ago and this measure move up is significant.

BEARISH

• Many are cautious to see if these new areas will hold and those with Bearish Sentiment would still like to see a final consolidation down to $2500 USD range. Failure to reach the 50, rejection, lack of volume would support downside to $4100-4200 then a test $3000 would precede the lowest move down.

BULLISH

• Market makers are calling for a rally to mid $5500 range while some are eyeing $6000 before a rejection occurs. That being said Bitcoin is seeing some exhaustion.

BITCOIN CASH AND LITECOIN ARE THE LEADERS IN THIS MARKET

• Historically #LTC lead Bitcoin by almost five months on the last significant Bull run.
• Litecoin had a golden cross and reached nearly $100 on some exchanges
• Daily Stock looking to cross up indicated another leg up
• May move up to test $104, $125, $175
• LTC support is $84.5 then $70-75 range.
• LTC needs to hold $45

FEAR AND GREED INDEX

Tip Wallet - Contribute to Darcy's work here:
BTC: 17ensjJ2gaKfNfaZhzU7cEtJmV1Govtqq
LTC: LPKiZK65DFCoVQu7RAAizK1cCj4C9qcAHg
ETH: 0x2a19200dec8b815035960ad703e03a3f7796bbfd
BAT: 0x2a19200dec8b815035960ad703e03a3f7796bbfd

Darcy K. Butcher, MA. BA Print & Photo Journalism
Writer, Print and Photo Journalist, Blockchain Educator
I am interested in cryptocurrency as a social, cultural, financial point of view.

For educational purposes only. This is not financial advice. DYOR
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