Latest Bitcoin Price and Analysis (BTC to USD)

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Bitcoin is experiencing a momentary pullback following a sensational bullish move that saw it embrace $ 52,999 before losing momentum.

The world’s largest cryptocurrency remains rooted in an upward barnstorming trend, demonstrated by a series of higher highs and lows.

While skepticism continues to play a part in this rally due to significantly lower volume than February above $ 50,000, it should be noted that supply levels are showing up much less on the exchanges.

In the short term, Bitcoin is testing the $ 50,500 level as it attempts to secure it as a support line rather than the resistance point it was last week.

If the price drops below $ 50,500, Bitcoin could start entering its first downtrend since late July, although it would likely need a sustained drop with daily candles closing below $ 46,500 to pass. from a lower lower.

BTCUSD

BTCUSD chart by TradingView

On a macro scale, recent price action can be analyzed as one of two things: a bullish reversal or a bullish trap.

A bull trap caught many off guard in 2018, Bitcoin plunged from $ 20,000 to $ 6,000 before providing traders with a brutal pattern that saw it double to $ 11,800 and fall into a grueling bear market .

If this is a bullish reversal, as several analysts suggest, it would replicate the 2013 bull market which is often referred to as the double bubble. This would likely mean that Bitcoin will surpass its all-time high of $ 65,000 over the next six months before hitting a major high before entering a two-year consolidation period.

Support levels remain at $ 50,500, $ 49,450, 48,360 and $ 46,500, while resistance points are at $ 51,300, $ 52,200 and $ 53,000.

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Bitcoin pricing

Current live BTC price information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Prices are also available in a range of different currency equivalents:

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About Bitcoin

In August 2008, the domain name bitcoin.org was registered. On October 31, 2008, an article was published titled Bitcoin: A Peer-to-Peer Electronic Cash System. This was written by Satoshi Nakamoto, the inventor of Bitcoin. To this day, no one knows who this or these people are.

The document describes a method of using a P2P network for electronic transactions without relying on trust. On January 3, 2009, the Bitcoin network was born. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins.

More news and information about BTC

If you want to learn more about Bitcoin or cryptocurrencies in general, use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it’s worth doing some homework before parting with your money. Cryptocurrency prices are volatile and rise and fall rapidly. This page does not recommend any particular currency or whether or not you should invest.

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