Bitcoin is constantly testing a large resistance zone, while price forecasts are intensifying and accelerating. In the long term, while BTC remains below the $ 4,000 barrier, it is very likely that a downward move will occur. However, some analysts think that in the coming months, Bitcoin will go beyond $ 4,000.
Bitcoin 0.5 in the Bull Region above Fib Level
Since last week, Bitcoin has been trading steadily above $ 3,900. However, BTC has not reached this level since it reached the highest level of $ 4,200 per month since the end of February. It was only slightly above this level for a short time. A few hours ago, Bitcoin's trading at $ 3.950 points to the highest level of the day. This high level didn't last too long and Bitcoin fell instantly to $ 3,875. Now the Bitcoin reached $ 3,900, showing a rebound of momentum from $ 3,875.
Experienced investor and crypto money analyst le Filorfil daha koy, a twitter user, Bitcoin to make more moves to reveal a few graphics reveals. He says that Bitcoin is a bull and that he does his analysis in detail to show it. The important thing to keep in mind in his analysis is that BTC has remained above the Fibonacci level of 0.5 since February 18th.
BITCOIN – [IS A BULL] – #BTCUSD chart https://t.co/Nb8YaImC9t
– filbfilb (@filbfilb) March 8, 2019
The market movement shows patterns of repetition of recently reversed head and shoulders. There is a bitcoin example that has fallen to $ 3,200 since December. BTC declines were around $ 3,400, $ 3,650 and $ 3,800, each lower than the previous one. Other bullish signals include a Chaikin Money Flow (CMF) level, indicating a MACD cross-zero over zero and a strong uptake pressure.
If Bitcoin falls below $ 3,400, it will point towards a lower level of less than $ 3,000, as others predict.
$ 5,000 Critical Psychological Level
BTC can quickly rise when the lock is above 0.5 Fib. This means that there will be an increase of up to $ 5,000 in May, according to the chart. As for $ 4,000, $ 5,000 will have a great level of psychological resistance.
Other investors foresee a long-term improvement by the end of 2019. With the use of the long-term lock 61.8 fib retraction level, Bitcoin can make a jump up to $ 5,000 to fall below the $ 1,500 in this extreme scenario.
Until October 2019, a break may occur from this downtrend line and up to $ 5,000 again by the end of the year. In 2020, when another big bull race begins, the only way is nothing more than an upward trend of Bitcoin.
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