Stavros Georgiadis

Bitcoin Price Prediction on March 2019 – Will It Again Move Higher Than $4000?

💰💰💰In this article we will present some Bitcoin price prediction figures for March 2019 and we will refer to our technical analysis scenarios.
Bitcoin Price Prediction on March 2019 – Will It Again Move Higher Than $4000?
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Our latest Bitcoin price prediction article for February 2019 asked the question whether Bitcoin could move higher than the important psychological level of $4000. Bitcoin made a rally up to the price level of $4280 on February 24, 2019. As of March 4, 2019, it has retraced to the price level of $3815. In this article we will present some Bitcoin price prediction figures for March 2019 and we will refer to our technical analysis scenarios, a positive one and a negative one.

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Bitcoin Price Prediction February 2019 – Will It Break Above $4000?
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Bitcoin Price Prediction February 2019 – Will It Break Above $4000?

Bitcoin performance

Bitcoin price performance for early 2019 has been negative, as the year-to-date performance as of March 4, 2019 is -2,06%. As we are still in early March 2019 the price of Bitcoin is in a narrow trading range between $4000-$3800. It is interesting to mention what are some Bitcoin price prediction ranges for March 2019 from various online sources. Some key statistics for Bitcoin as of March 4, 2019 are:

  • Market Cap: 66.01 B
  • Circ. Supply: 17.57 M
  • Current price is $3751
  • 52 Week Low-52 Week High: $3,178.33- $11,666.9
  • Volume: 7.93 B
  • Max. Supply: 21.00 M

Bitcoin price prediction

LongForecast.com estimates the following Bitcoin price prediction for March 2019. An open price of $3827, a minimum-maximum range of $3278-$4371 and a close price of $4048 for a monthly return of +5.8%. it is a rather conservative Bitcoin price forecast overall.

PrevisionBitcoin.it mentions in its Bitcoin forecast for March 2019 “On March 2019 Bitcoin may heavily boost its price. We assume as high predictable a mass adoption of this cryptocurrency next months. We expect on March 2019 a Bitcoin rise with a strong capitalization and consequently a concrete value per coin increase.”  It also provides a minimum price for Bitcoin which is $3521.95.

Coinpredictor.io appears very pessimistic on Bitcoin. It has a Bitcoin price prediction that a decline of -31.1% may occur during March 2019 and that bitcoin could reach the price of $2628.31 by March 28, 2019. The 4-weeks predicted price for Bitcoin is $2626.68.

WalletInvestor.com provides a range of Bitcoin prices for the next 14-days.Its Bitcoin price prediction is that Bitcoin price target in 14 days could be $4262.407 to the upside  and $3815.444 to the downside. However, its forecast trend line is above its price line, which indicates optimism about the Bitcoin price soon.

Bitcoin monthly price predictions based on technical analysis

As a reminder our Bitcoin price prediction for March 2019 is not an investment recommendation, rather an article to inform and express our opinion. What does the daily and weekly charts for Bitcoin tell us about its price movement in March 2019?

Bitcoin Price Prediction on March 2019 – Will It Again Move Higher Than $4000?

BTC/USD chart by TradingView

Bitcoin Price Prediction on March 2019 – Will It Again Move Higher Than $4000?

BTC/USD chart by TradingView

Bitcoin price prediction – Bullish scenario

There is strong support at the price levels of $3650, $3750 and $3430 showing that it will be difficult for the price of Bitcoin to drop below all these three levels in March 2019. We note a consolidation phase and the fact that both 20-period and 50 -period exponential moving averages are flat indicating that a breakout may occur sometime during this month. However, the strength of the trend that caused the rally in February 2019 is no longer evident in the market.

Our upside price target for March 2019 is the price level of $4175-$4220, where the daily upper Bollinger band should provide resistance and possibly some profit taking. On the weekly chart it is positive that a bullish MACD crossover has taken place and that Stochastics indicator (14,3,3) is moving up.

Bitcoin price prediction – Bearish scenario

The current trend has changed from downtrend to range-bound and both 50-day and 20-day exponential moving averages are flat after a short-term rise. Bitcoin is struggling and not yet achieved to close above the 20-day price exponential moving average, and the 50-day exponential moving average. We wrote in our previous article that any short-term rallies may fade soon. This is exactly what happened after the rally up to the price level of $4270.

MACD indicator on the daily chart has made a bearish crossover, and the Stochastics indicator is moving to lower levels without yet making any bullish crossover. A very large bearish candle formed on February 24, 2019 shows that there is intense selling pressure for Bitcoin near the price level of $4270. A downward move to the price level of $3590-$3400 is very probably during March 2019 if Bitcoin cannot close above the price level of $3900.

What is the most probable Bitcoin price prediction scenario?

As Bitcoin is in a consolidation phase both scenarios are possible, but we give more emphasis on the bearish scenario.

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Vera Thornpike

Bitcoin Short-Term Price Analysis: $4,000 BTC Price Is to Be Hit Again. What to Expect from BTC This Week?

🤑📈Bitcoin short-term price prediction from TradingView users. Is BTC to overcome $4,000 this week? When to buy Bitcoin? Patterns and factors contributing to BTC growth.
Bitcoin Short-Term Price Analysis: $4,000 BTC Price Is to Be Hit Again. What to Expect from BTC This Week?
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Bitcoin has managed to make it to $4,000 but didn’t hold long. What will be its next steps? Will BTC reach new heights, or is its short-term success to be eclipsed by another bearish trend? tradingview users share their outlook on Bitcoin’s nearest future.

BTC is going through ABC correction

Bitcoin is through ABC correction

Bitcoin price chart from botje11

According to user botje11, Bitcoin seems to be going through ABC correction. So far, it has been moving towards the $4,200 neckline again. Volume is moderate, but not bad. It looks to be developing normally within what looks like a right shoulder. Since December 2018, it has been attempting to form an inverse H&S pattern.

Here’s what botje11 writes:

“In a short term, we want to see something like the chart on the left. Making a bigger bull flag here. So touching 4000/4020 again and then retest the support one more time around 3950/40. If we see this happen without any strange moves, chances will be very high to see an attack of the 4200. As you know from my previous analysis, that if we see a touch of 4200ish, even when seeing a rejection there at first, i am quite sure it will break eventually. In this scenario, 4000 should be the low after touching the 4200ish.”

If we manage to move up above 4000/4050, the volume should increase. To witness positive changes, the rally should be bigger than before. The real volume jump can be postponed until a break of the $4,200 level. But then it has to be enormous. Seems like traders aren’t willing to wait anymore.

Short-Sale Structure pattern is here

We are likely to see Bitcoin falling to a support line

Bitcoin price chart from CryptoManiac101

According to CryptoManiac101, up to date, we are witnessing a clear follow through with our Short-Sale Structure pattern. It means there’s a 90% chance of a flash dump or drop towards supports. However, crypto is a very volatile matter, and we might see an upward movement into the next week. At the moment, there’s no clear BTC/USD trade set up.

There’s the third successive buy signal

Prepare to buy BTC at $4,100

Bitcoin price chart from TradingShot

Bitcoin gives another buy signal for traders. Look at the pattern: 4H Channel Up within a 1D Ascending Triangle. The signal seems to be bullish in the Higher Low zone. Prepare to buy BTC at $4,100 higher high and sell on $4,190 when Ascending Triangle Resistance forms.

BTC is to fall to $3,300

BTC might fall to $3,300 and lower soon

Bitcoin price chart from MrRenev

Some users don’t share the optimism around Bitcoin’s future. For example, the user nicknamed MrRenev believes that BTC is to fall to around $3,300 in 7-10 days.

Here’s what he writes:

“After a dead cat bounce and the usual victims that regulators try so hard to protect - no matter how much that hurts the legit traders like me - and that lose no matter how many rules aka wheelchair training wheels are set in place to help them out, will ONCE AGAIN call the bottom, buy the dip etc - which should last let's say 3-5 days, the price will then fall more than 1/3 in a matter of days. We will then bottom at 1500-2000 we might get there fast or after a bounce a little higher and momentum slowdown follower the 33% loss in 2-3 days.”

Why should it be so? MrRenev bases his prediction on the fact that the Chinese government doesn’t like Bitcoin and might do everything to suppress it. BTC will be under risk after rejecting resistance twice and run into the next resistance which is $4,200-4,300. The user is sure that the chances of a bull run is minimal.

After breaking resistance, Bitcoin is through the uptrend. Judging by predictions from TradingView, it's more likely to rise than return to the $3,500 level or lower. Keep tabs on the new resistance level. $4,050 will be a new BTC price threshold and an entry point for traders.

BTC/USD price chart on TradingView

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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