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Bitcoin (BTC) Price Is To Hit $9K Again? Arrival Of Bearish Train Is Delayed

Mon, 06/03/2019 - 18:00
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Vera Yurina
? ?Can BTC hit $9K threshold again? Read BTC price predictions from TradingView users? ?‍?
Bitcoin (BTC) Price Is To Hit $9K Again? Arrival Of Bearish Train Is Delayed
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The crypto market is somewhat confused: Bitcoin doesn’t make any significant steps either to the bottom or to the top. What to wait from it then? How to trade BTC in the most profitable way? Let’s take a look at a few Bitcoin price predictions from TradingView users and find out what might happen to the famous cryptocurrency in the nearest days.

On The Way ToHard $9.500 Resistance Level

$9,500 is a hard-to-reach target
Bitcoin price chart from TogetherWeAccumulate

Bitcoin looking bullish for the shorter time frame breaking out from that triangle and trying to test the $8,730 level for now. If it can break that level we are going to see a retest on the level at around $8,829 - $9,030 shortly and we will be heading to $9,500 major resistance level. Yet, judging by the recent charts, there’s a possibility of an ABC correctional trend, which means BTC won’t have a chance to grow in the nearest perspective.

Bitcoin Mining Difficulty Reaches New High. Will Price Follow Suit?

$9,400 is June’s highest point

We are getting closer to $9,400 resistance
Bitcoin price chart from jisubyeon

Reverse Head and shoulder neck line retest is very successful, and we getting closer to BTC Major Resist line around $9,400.

After that, we have to see more of the candle, but if we cannot break through it and draw a picture of the adjustment, a very big decline will begin. First of all, the BTC should try to reach $9,400! There is a chance that it can happen in June 2019.

All eyes on Satoshi signal

Satoshi signal has formed
Bitcoin price chart from mc_peewee

The Satoshi Signal, as the trader calls it, is the most powerful trend reversal signal. Look at the chart. We're sitting high. A long legged Doji at a very high price is not a good sign. We could go slightly higher, but it’s not likely. Traders should edge into a 1-5x short at a local high.

Why are Prices Climbing? Bitcoin Whales, Litecoin Hashrate, Tron Announcements, and more

$6K will be the last lowest low

Expect downtrend to $6,000
Bitcoin price chart from TopTradersGuide

The user claims that Bitcoin needs a deep correction before the real bull run. 17th of June is an important time zone in the weekly chart (16th of Jule are also important inthe daily chart), overlapping with diagonal resistance and touching the median line of an old pitchfork are our signs of a sharp dump.

If the price reaches to $6,000 zone, it will be the last time that BTC touches it and probably Bitcoin will never meet the price again. 21 October is an important time zone in a weekly chart that we expect powerful reactions.

Though the price can stop the downtrend in $6,700, to $6,000 zone is more expected. The stop loss of this analysis is $9,600 that it's too far and untouchable. It’s not likely that the price can reach there.

Final thoughts

What bring in pessimistic mood is the current technical indicators: MACD is ready bearish, RSI is about to test and most likely fail soon. 4 hr is looking weak daily is looking to drop more with a red close by end of the day weekly just crossed downward. Stochs are crossing down on higher time frames. Along with filling out this rising wedge, Bitcoin is preparing for a fall.

Will it reach $9K or even $9.5K level? Day by day, chances for that diminish even though it keeps above the $8K level. Trade carefully!

Bitcoin price charts by TradingView

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions, can be contacted at