Bitcoin Price Technical Analysis (BTC/USD) Sunday, April 14, 2019

During today session, Bitcoin continues above $5000, the purchase volume has decreased, so the price has entered a lateralization area during the last 2 days.

At this time there are probabilities that, the price will return to touch the $ 4500 since, this has been a “typical” movement in the price of BTC, however it is best to monitor closely to any increase that we can take advantage of with a profit in scalping in the event that BTC increases again.

Key Highlights

  • Bitcoin lateralized
  • BTC outside the overbought area
  • Low purchase volume

Opinions in the market are divided, although Bitcoin has a high probability of returning to $ 4500 to start a bullish rally, there are those who see a possible rebound in the $ 5000 which is to happen at any time.

From my point of view, I think that $ 4500 is a point of purchase with greater probability, but being attentive to the price of BTC cannot make gain if we manage to enter quickly. Since at the end of the day, nobody knows what movement Bitcoin will have.

The main support I keep in the $ 4500 while the resistance in $ 6100, it must be taken into account that the RSI has left the overbought area so there are possibilities of an upward movement at any time.

BTC/USD Time Frame 1 Day

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 70%
  • Support $4500
  • Resistance $6100

 

Disclaimer
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.