Bitcoin Price Prediction: BTC/USD Smashes Through $6,000 Mark in Massive Price Surge

Bitcoin (BTC) Price Prediction – March 19

Today, Bitcoin adds over $1,000 to its price in a strong revival following its recent price collapse.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $7,600, $7,800, $8,000

Support Levels: $4,200, $4,000, $3,800

BTCUSD – Daily Chart

Bitcoin gains intraday momentum as it rises above $6,200 after five days of a downward correction. BTC/USD even tested support below $5,000 once due to loss of momentum within the said five days and lost the steady support from the daily moving averages. The price of Bitcoin broke through the $6,000 level, rising over $1,000 today. At present, the price of Bitcoin is $6,247, up 15.4% in the last 24 hours.

However, as the coin manifests an uptrend and higher highs on the intraday chart, BTC/USD draws the consecutive higher high above $5,500 after a bearish dip below $5,000. The recent move has pumped in growth and gained back support from the daily moving average on the intraday chart. Although, the volatility remains intact as traders can’t really believe the intermittent price rise and dip.

Moreover, the Bitcoin (BTC) is trading above the 9-day moving average. The next resistance levels lies at $7,600, $7,800 and $8,000. In addition, if the coin fails to move up; we may see a price cut back to $5,000 vital support. A further low drive could bring the price to $4,200, $4,000 and $3,800 supports. At the moment, the bulls are still defending critical support of $5,500 as the indicator RSI (14) is moving towards the 40-level.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

BTC/USD is seen performing well at present. With this, we expect the coin to gain the lost momentum and hit the trade above $6,300. However, the volatility hovers and the selling pressure still exists. Meanwhile, the $5,300 and below may come into play if BTC breaks below $5,500 support level.

BTCUSD – 4 Hour Chart

However, in as much as the buyers can reinforce and power the market, traders can expect a retest at $6,800 resistance level and breaking this level may further allow the bulls to reach $7,200 and above. The RSI (14) is moving around the 67-level which may likely bring more bullish signals.

Please note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • Excellent choice for U.S. customers
  • Paypal accepted
  • CySEC & FCA regulated
  • Buy 12+ cryptocurrencies

eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Established stock-exchange listed company
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees and low spreads

    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

      Leave a Reply

      Your email address will not be published. Required fields are marked *