Yuri Molchan

Bitcoin Price Prediction – Will BTC Get over $4,000 in March?

📈💸Here we offer a forecast for Bitcoin price movement in March 2019 and will show possible technical analysis scenarios
Bitcoin Price Prediction – Will BTC Get over $4,000 in March?
You may also like:

In late February 2019, Bitcoin spiked and managed to take the $4,280 price spot. A little later, on March 4, it made a retracement to the $3,815 mark on charts. So, will Bitcoin be able to get over the $4,000 point in March this year?

BTC performance in 2019 so far

Since the beginning of 2019, the major cryptocurrency has been performing poorly. At the time of writing, the year-to-date performance totals around -2.06 percent. Presently, the BTC quotes are still trading in a narrow corridor between $4,000 and $3,800.

BTC price forecasts

The LongForecast.com site suggests a neutral and conservative scenario for March 2019, saying that the open $3,827 price may jump within the range between the low of $3,278 and a high of $4,371. The close price, it says, will be $4,048 with a monthly return of +5.8 percent.

Other crypto analytical websites offer various scenarios: some are bullish and some are bearish. They all provide suggested lows and highs for the Bitcoin price in March, where the highest rate BTC can achieve is $4,262, according to data from WalletInvestor.com.

Technical analysis

As a reminder, the Bitcoin price prediction we are offering is no investment recommendation but just our opinion, concluded through technical analysis.

Here is what daily and weekly graphs say about the way the Bitcoin price will move in 2019.

Technical analysis

BTC/USD chart by TradingView

Technical analysis

BTC/USD chart by TradingView

Bitcoin price forecast – bullish scenario

The following levels offer strong support: $3,650, $3,750 and $3,430, thus Bitcoin will have a hard time going under these price marks in March. We have noticed a phase of consolidation.

Besides, seeing that both the 20-period EMA and 50-period EMA have been going flat, we can say that Bitcoin may conduct a breakthrough at some point in March. However, the trend that made Bitcoin spike in February seems to have left the market by now.

The highest point we expect Bitcoin to reach in March 2019 is something between $4,175 and $4,220 – at that part of the charts, the daily upper Bollinger Band should set up a point of resistance and probably will allow fixing some profits.

On the weekly graph, a bullish MACD crossover can be seen, and Stochastics indicator (14,3,3) is heading upwards.

💼 Related Article
Ripple Price Prediction for March 2019 – Waiting for a Breakout
🔥 Hot
1 week 5 days
Ripple Price Prediction for March 2019 – Waiting for a Breakout

Bitcoin price forecast – bearish scenario

The present trend has changed from a downward trend to range-bound with both 50-day EMA and 20-day EMA being flat after a brief ascend. Bitcoin is trying to hold and has not yet closed above the 20-day price EMA or the 50-day EMA.

In our previous technical analysis article, we said that all brief-term rallies could end soon. So this proved to be true after the rally took the Bitcoin price up to the $4,270 price point.

MACD indicator on the daily graph has shown a bearish crossover, and the Stochastics indicator is heading towards lower levels with no signs of any bullish crossover.

On Feb 24, a big bearish candle formed on charts, showing that here at the price point of $4,270, bears are putting great pressure on the Bitcoin price.

If Bitcoin fails to close above $3,900 in March, a downtrend may take it down to the $3,590-$3,400 marks.

Will bulls or bears win in March?

Since Bitcoin is currently consolidating, both scenarios are likely to happen, but we reckon that the bearish one is more probable at the moment.

Join our Telegram channel to get news even faster!
👓 Recommended articles
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?
You may also like:

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.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles