Bitcoin Price Technical Analysis (BTC/USD) Monday, April 15, 2019

April second week session has started while Bitcoin price continues above $5100, the price has entered a lateralization area between $5000 – $5100 which causes the fear to increase before a possible pullback to $4500.

During Sunday session we saw how the price was lateralized in the $5000, however we have had a slight increase, but beware that we must bear in mind that, the price has increased with a low volume level.

Key Highlights

  • Bitcoin over the $ 5100
  • Low volume level
  • Possible pullback towards the $ 4500

As mentioned yesterday, the price has been maintained with a fairly unpredictable movement, although the trend indicates a possible setback to the area of ​​$ 4500 should be noted that you can make money in the brief impulses that BTC does. For example today’s momentum which has increased the price by more than $ 100, although this is not recommended for inexperienced traders.

At this time BTC is above the MA 200, while we see a cross of the EMA 500/100 EMA average, which could bring the increase we had mentioned of the $ 5800 before seeing a pullback.

At this time it is best to avoid investing. On the other hand, for the most risky, an entry in $ 5225 with a target of $ 5700 is an option.

BTC/USD Time Frame 1 day

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 72 $
  • Support $3500
  • 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.