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[BTC/USD] Short-Term Price Prediction 2019: Bitcoin Needs a Higher High to Reach the Bull Run

  • Vera Thornpike
    📈 Price Predictions

    Bitcoin price prediction for Q1 2019 from TradingView’s top authors


[BTC/USD] Short-Term Price Prediction 2019: Bitcoin Needs a Higher High to Reach the Bull Run
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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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The cryptocurrency community is holding its breath, waiting for when the bad times will be over. Despite audacious BTC price predictions from major crypto pundits, the world’s major cryptocurrency doesn’t seem to gain traction. It still fluctuates within the range of $3,000-$4,000. Will anything change in the nearest months?


Let’s see what top authors from tradingview.com think about it. These are the most reputable users on the platform – readers rely on their opinions and take their suggestions into consideration for making trading decisions.

EXCAVO: Downtrend continues

According to the top author, the BTC/USD price is trapped within a falling wedge - reversal pattern. This trend is continuing, and in order to start crawling upward, Bitcoin needs to gain enough volume. The largest volume we witnessed previously was in October 2018, and it hasn’t been growing since then. The support line of the wedge should be touched to change the course of things.

EXCAVO suggests:

“It is better to manipulate the price on the stock exchange in order to buy at a price below 3000 in the OTC market.”

The downtrend is likely to continue until BTC reaches support line
BTC price prediction by EXCAVO

TomHall: The price rejects “Head & Shoulders” neckline

The user called TomHall made a quick prediction but warned that additional indicators and confluence factors should be taken into account before making any trading decisions. On January 7th, 2019, he commented that the BTC price is testing the H&S neckline, but the red zone doesn’t end there, and the resistance should be broken for further growth. Three days later, he commented:

“Price continues to reject the H&S neckline as resistance. Should price close below $3,530 it would invalidate this particular trade opportunity.”

A possible bear trap is expected when BTC reaches $4,100 again
BTC price prediction by TomHall

Reference: The head and shoulders (H&S) bottom pattern usually occurs after a downtrend and signals that the price can start going up. The pattern consists of a swing low, a rally, a lower swing low, another rally, and a higher low.

DLavrov confirms inverse Head&Sholders chart pattern

The Russian top-rated user also claims that there are market signals about trend reversal. He believes that when the price breaks a neckline, we should expect a breakthrough. Price fluctuation should break the value of previous swing high (at least $4K). Such signals will indicate it’s time for opening long positions and stop orders. An important resistance threshold is between $5,000-6,000 – at this point, the market can be reversed with minor correction movements.

This time will soon come, and the downtrend reversal will be a starting point for a new uptrend. Such indicators as MACD, RSI, and DMI prove that the bull run is around the corner. So, when exactly shall we expect BTC growth? As soon as it breaks from the narrow frame of fluctuations.

We witness a typical Head & Shoulders reverse pattern
BTC price prediction by DLavrov

As we can see, the Bitcoin price stays within the tight frames, but tradingview.com experts are sure that it should break the pattern in the nearest month. As soon as BTC reaches about $5,000, we should witness a new wave of money flowing into the BTC market cap, which will trigger price growth. Currently, we can enjoy a lower price for future trading opportunities.

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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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.

Contents

The cryptocurrency market did not follow the scenario of last week and keeps trading near the zone of local maxima. Since the next pullback has not occurred and the growth continues, we can safely talk about the resumption of the qualitative upward trend.

At the same time, CME data show a decline in interest of investors involvement in Bitcoin futures.


As altcoins have recovered, BTC’s domination rate reduced and now is 52%.

BTC/USD

Technical analysis of Bitcoin shows moving to an important resistance level of $6,000. In the case of continued growth and breakdown of the upper boundary of the channel, we should expect the resumption of a full-fledged upward movement. In this regard, the RSI Prediction Band also indicates bullish tendencies.  

 BTC/USD chart by tradingview

Based on a 4-hour chart technical analysis indicates the formation of the Triangle pattern, which shows that BTC is unlikely to move below $5,250. In the case of the breakdown of the upper boundary of the model and closure above $5,500, one can expect continued growth with a potential goal of $5,700. An additional signal here is the test of the support line on the Relative Strength Indicator (RSI).

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The price of BTC is trading at $5,292.45 at the time of writing.

ETH/USD

The main altcoin synchronously with Bitcoin at night showed positive dynamics, as its price increased by more than 3%. The ETH/USD pair pushed away from the support of the 200th EMA at the level of $155 and rapidly soared above the fast 50th EMA at the area of $165.

ETH/USD chart by tradingview

One more resistance area is located at $174, the break of which will push the asset closer to a psychological zone of $190.00. A breakout of this level will indicate confirmation of a rise in
ETH/USD quotes.

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The price of ETH is trading at $171.63 at the time of writing.

XRP/USD

Among the top 3 coins, Ripple has shown the biggest growth over the past 24 hours. Investors and traders are showing interest in the coin, as its market capitalization has increased by around $300 million over the last day.

XRP/USD chart by tradingview

Taking into consideration a technical point of view, Fibonacci retracement shows a consolidation in the green area (61.8%) at $0.343, which serves a consolidation zone. The RSI indicator does not demonstrate the overbought and XRP has enough strength to conquer one more resistance level at $0.35. If the crypto market continues its bullish trend, Ripple will be able to come back to its previous highs.

The price of XRP is trading at $0.3396 at the time of writing.

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