{"id":254052,"date":"2020-03-17T09:51:01","date_gmt":"2020-03-17T13:51:01","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=254052"},"modified":"2020-03-17T09:57:21","modified_gmt":"2020-03-17T13:57:21","slug":"bitcoin-price-prediction-btc-usd-eyes-6000-can-the-bulls-surpass-5500-level","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-eyes-6000-can-the-bulls-surpass-5500-level","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Eyes $6,000; Can The Bulls Surpass $5,500 Level?"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 17<\/strong><\/p>\n

The Bitcoin bulls\u2019 comeback is sending the price towards $6,000 but momentum stalls at $5,456.<\/p>\n

BTC\/USD Long-term Trend: Bearish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $6,600, $6,800, $7,000<\/p>\n

Support Levels: $3,800, $3,600, $3,400<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

The daily chart has revealed that BTC\/USD<\/a> is back to trading above $5,000 following a bearish correction to levels under $4,500. Today, the Asian session is characterized by a renewed upward trend whereby BTC\/USD has recovered from intraday lows at $4,889 to highs around $5,456. More so, Bitcoin’s price is currently hovering 4.35% higher on the day at $5,456 around the lower boundary of the Bollinger bands. So, in spite of the upward movement, BTC\/USD is still facing a bearish trend and high volatility.<\/p>\n

At the time of writing, the BTC price is trading in a range of $4,889 to $5,668. It has created a short-term double-bottom which suggests that the price may soon break out from this range and head above $6,000. On a bullish note, looking at the technical indicator stochastic RSI, the signal lines have broken out from a descending resistance line which suggests that the Bitcoin price will once again move towards $5,500, which is the closest resistance level.<\/p>\n

However, a strong bullish spike may take the price to $6,600, $6,800 and $7,000 resistance levels. Moreover, if the market makes a quick turn to the south, the BTC\/USD price may likely drop to $4,000 and should this support fails to contain the sell-off, traders may see a further roll back to $3,800, $3,600 and critically $3,400. The stochastic RSI suggests an upward movement for the coin as the signal lines move towards the north.<\/p>\n

BTC\/USD Medium – Term Trend: Ranging (4H Chart)<\/h4>\n

Looking at the 4-Hour chart, BTC\/USD trades within the range of $4,391 to $6,008. Nevertheless, the coin has not yet moved below $4,000 and still in the loop of breaking or making a bounce back. BTC price hovers around $5,339 and may take time to persistently trade above $6,000. The upward movement may be able to near the $6,300 and $6,500 resistance levels if the bulls regroup.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

However, on the downside, immediate support is around the $4,800 level while the main support is at the $4,600 level. The price may likely fall below $4,400 if the bears step back into the market, a further movement could test the critical support levels at $4,200 and $4,000 respectively. Technically, Bitcoin is still moving in sideways while the RSI (14) moves in the same direction, indicating an indecisive in the market movement.<\/p>\n

Please note:<\/strong> Insidebitcoins.com<\/a> 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.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 17 The Bitcoin bulls\u2019 comeback is sending the price towards $6,000 but momentum stalls at $5,456. BTC\/USD Long-term Trend: […]<\/a><\/div>","protected":false},"author":1742,"featured_media":254053,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Eyes $6,000; Can The Bulls Surpass $5,500 Level?<\/title>\n<meta name=\"description\" content=\"The Bitcoin bulls\u2019 comeback is sending the price towards $6,000 but momentum stalls at $5,456.\u00a0 \u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254052\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC\/USD Eyes $6,000; Can The Bulls Surpass $5,500 Level?\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin bulls\u2019 comeback is sending the price towards $6,000 but momentum stalls at $5,456.\u00a0 \u00a0\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-17T13:51:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-17T13:57:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/03\/BTCUSD_1D_17032020.png\" \/>\n\t<meta property=\"og:image:width\" content=\"967\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Azeez Mustapha\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ItuGlobal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azeez Mustapha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254052#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254052\"},\"author\":{\"name\":\"Azeez Mustapha\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8\"},\"headline\":\"Bitcoin Price Prediction: BTC\/USD Eyes $6,000; 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