CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,155.00
  • ethereum
    ETH$1,584.57
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Bitcoin Is Getting To Its Critical Decision Point: Will $5300 Finally Break? BTC Price Analysis April 10

    Bitcoin Is Getting To Its Critical Decision Point: Will $5300 Finally Break? BTC Price Analysis April 10

    Author: Yuval Gov

    Last Updated Dec 10, 2019 @ 14:49

    Following our previous analysis, Bitcoin is still in the same area, around $5200, inside the ascending triangle formation (which can be seen on the following 4-hour chart).

    This is what we had written on our last analysis: “From above, Bitcoin is still facing the $5200 area. After twice getting rejected, Bitcoin is getting closer to breaking up the $5200; however, the real target is the resistance area of $5300.”

    The big picture hasn’t changed much: The real resistance is located around $5300 – $5350, while BTC is expected to reach its decision point in the next day or two. A breakout of the above pattern and we could easily see Bitcoin’s new highs at $5600 – $5700. Rejection – and the bears are likely to return into the main crypto stage.

    Total Market Cap: $182.1 Billion

    Bitcoin Market Cap: $92.6 Billion

    BTC Dominance: 50.9%

    Looking at the 1-day & 4-hour charts

    – Support/Resistance:
    From above, as mentioned, Bitcoin is now looking on the resistance area of $5300 – $5350. In case of a break-up, some resistance lies at $5500 before reaching the 2018 legendary support turned resistance line at $5700.
    From below, there is a close-by resistance turned support level of $5200, along with ascending trend-line that is building the triangle (mentioned above). The next resistance area lies around $5000 – $5100. Further below lies $4800 and $4700. Far below is the 200-days moving average line of the daily chart (marked in light green) which is currently around $4550.

    – Daily chart’s RSI: The RSI level found support at the 80 level, along with the long-term descending supporting trend-line. As of now, the RSI indicator looks bullish; however, Stochastic RSI oscillator had recently crossed over at the bullish territory. This might start a correction down for the next couple of days.

    – The daily trading volume: The trading volume had calmed down since the Bitcoin rally of a week ago. This sometimes could predict a coming-up strong move.

    – BitFinex open short positions: Following the recent sudden 20% drop in the short positions, the number had found support on the long-term 17K line. Since then it had safely climbed up to 18.7K BTC open short positions, as of now.

    BTC/USD BitStamp 4-Hour Chart

    btc_apr10_4h-min

    BTC/USD BitStamp 1-Day Chart

    btc_apr10_d-min

     

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin Bitcoin (BTC) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yuval Gov
    More posts by this author

    Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU - Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO. Contact Yuval: LinkedIn

  • bitcoin
    BTC$23,155.00
  • ethereum
    ETH$1,584.57
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!