Bitcoin sees some minor profit taking before a new leg up

Cryptocurrency Analysis BTCUSD

Time Frame : Daily Chart

Bitcoin – BTCUSD

Bitcoin managed to spike through 5000 but has seen a bit of profit taking from the lucky buyers that bought on the original push up through 4200. The short term action sees bulls and bears still fighting it out and we will need to see buyers defend 4813 for a new move up towards 6000. Price action may still have to clean out a few late buyers on a spike lower through support before building for the run up. Either way, we are watching for price to reset and bring in the buyers who missed the first spike up, for a new leg up which could see a lot more volatility. Watching for confirmation from higher lows on the shorter term timeframes as there is no need to jump aboard the train yet….as it may have not left the station.

Crypto Pair : BTCUSD

Current Price : 4917

Status : On watch for a spike up to 6000

Alert History

Previous Alert 3/04/19

Cryptocurrency Analysis BTCUSD

Time Frame : Daily Chart

Bitcoin – BTCUSD

This is just what all the crypto enthusiasts have been waiting for…volatility to pick up and some action come back into the buy side again. Bitcoin took off last night with a push up to current levels around 5000. There will be a lot of excitement generated from this move and dreams of another big move to the stratosphere. A lot of holders from higher up may be looking to exit at breakeven finally so we expect to see some easier price action to trade. Watching now for some heat to come out of the market and price to pullback and build a buy entry setup for a continued move up to 6000 and potentially beyond.

Crypto Pair : BTCUSD

Current Price : 4999

Status : On watch for a spike up to 6000