Weekly Bitcoin Price Indicator Prints Strongest Bull Signal Since Early 2018

A technical indicator used to identify the momentum behind asset prices is registering its highest value since the beginning of 2018 when applied to bitcoin, a possible positive sign for the cryptocurrency’s market.  The relative strength index (RSI) takes into account the speed and change in price movements, i.e. momentum, to reveal when the trend of the underlying asset is shifting from bearish to bullish market conditions and vice versa, as well as when it has become overextended. Traditionally, an RSI value above 70 is considered to be “overbought” and…

Bitcoin (BTC) Price Weekly Analysis: Trend Overwhelmingly Bullish To $4,200

Bitcoin price slowly moved higher and dips remained supported above $3,800 against the US Dollar. The price fell significantly recently, but buyers protected the $3,800 support area. There is a crucial ascending channel is in place with support at $3,830 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains in an uptrend and it is likely to accelerate above $4,000 and $4,100 in the near term. Bitcoin price is grinding higher with a positive bias above $3,800 against the US Dollar. BTC/USD buyers are…

Ripple Price Analysis: XRP Targets Fresh Weekly Lows Before Upside

Ripple price failed to gain momentum above the $0.3150 resistance and declined against the US dollar. The price is now trading well below the $0.3140 resistance and the 100 hourly simple moving average. There is a crucial contracting triangle in place with resistance near the $0.3095 level on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could dip sharply towards the $0.3020 support before it attempts a solid recovery. Ripple price trading with a bearish angle against the US Dollar and bitcoin. XRP/USD remains at…

Bitcoin Price Weekly Analysis: Cautiously Bullish BTC, $3,900 Presents Resistance

Bitcoin price corrected lower sharply after trading towards the $4,200 resistance against the US Dollar. The price declined below the $3,860 support area and tested the $3,620 support zone. There is a short term ascending channel or bear flag formed with resistance at $3,900 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could slowly move higher as long as it is above the $3,760 and $3,720 supports. Bitcoin price started consolidating losses below $3,860 against the US Dollar. BTC/USD could rise again as long…

Bitcoin Price Weekly Analysis: BTC’s Bullish Break Looks Real Towards $4,500

Bitcoin price extended gains and broke the $3,950 and $4,000 resistance levels against the US Dollar. The price traded to a new 2019 high above $4,100 and it could continue to rise in the near term. There was a break above a major triangle pattern with resistance near $3,950 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair traded above the $4,150 resistance and it could accelerate towards $4,250 and $4,400. Bitcoin price climbed higher sharply above the $4,000 barrier against the US Dollar. BTC/USD…

Bitcoin Price Weekly Analysis: BTC Signaling Bullish Continuation, $4K Incoming?

Bitcoin price started a downside correction after a sharp move towards $3,750 against the US Dollar. The price corrected lower and tested the $3,540-3,530 support area, where buyers emerged. Later, there was a break above a key bullish flag with resistance near $3,570 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is placed nicely in a positive zone and it could continue to move higher towards $3,650 and $3,800. Bitcoin price is slowly gaining bullish momentum against the US Dollar. BTC/USD remains in a…

Ripple Price Weekly Analysis: XRP Primed For More Upsides

Ripple price bounced back sharply and broke the $0.3000 resistance level against the US dollar. There was a break above a major bearish trend line with resistance near $0.2900 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is now placed nicely above the $0.3000 support and the 100 simple moving average (4-hours). Ripple price gained a strong bullish momentum against the US Dollar and bitcoin. XRP/USD is likely to extend the current wave towards the $0.3300 or $0.3400 resistance level. Ripple Price Analysis Recently,…

Bitcoin Price Weekly Analysis: BTC Rebound Approaching Crucial Resistance

Bitcoin price formed a support base near $3,370 and recovered higher above $3,450 against the US Dollar. There was a break above a major contracting triangle with resistance at $3,440 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair seems to be approaching a couple of important resistances near $3,500 and $3,510. Bitcoin price is slowly moving higher with positive signs against the US Dollar. However, BTC/USD is now approaching a significant hurdle near the $3,500 resistance zone. Bitcoin Price Analysis This past week, bitcoin…

Bitcoin Price Weekly Analysis: BTC Could Accelerate Gains Above $3,850

Bitcoin price formed a solid support near the $3,560 level and moved higher against the US Dollar. There is a crucial bearish trend line in place with resistance near $3,850 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move higher towards the $3,850 and $4,000 levels in the near term. Bitcoin price is showing positive signs above the $3,600 support against the US Dollar. BTC/USD could accelerate gains once there is a break above $3,800 and $3,850. Bitcoin Price Analysis This…

Bitcoin Price Weekly Analysis: BTC’s Bullish and Bearish Scenarios Analyzed

Bitcoin price declined recently and traded below the $3,725 support against the US Dollar. There is a short term breakout pattern forming with resistance near $3,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair may soon make the next move either above $3,650 or below $3,550 in the near term. Bitcoin price faced an increased selling pressure below $3,700 against the US Dollar. BTC/USD is aligned for the next break either bullish above $3,650 or bearish below $3,550. Bitcoin Price Analysis This past week,…