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Bitcoin price likely to dwindle through; bears ruling 29 April 2019
Bitcoin price 29 april 2019
Crypto space has been going through some ups and downs but right now it is expected that if pick up the pace it is likely to land on the five thousand six hundred and fifty dollars ($5650) resistance level provided that the price level is above the EMAs.
But on the other hand, if the market fails to increase the market momentum and break the aforementioned resistance level then the price mark will possibly land somewhere near five thousand four hundred ($5,400) and five thousand two hundred ($5,200).
Last week the Bitcoin and US dollar pair was doing well and reached the price level of five thousand six hundred ($5,600). After this, the price fell to five thousand two hundred and fifteen ($5,215) and continued again to show an upward trend.
Right now it is better to keep an eye out for price market near five thousand four hundred ($5,400) and five thousand two hundred ($5,200).
Since the start of April, the prices in the crypto space have been holding up just fine. The EMAs also indicate that the market will remain bullish for quite some time.
But not forgetting the fact that if this doesn’t happen and the five thousand six hundred and fifty ($5,650) resistance level is not breached, it will continue to descend until it hits the five thousand three hundred and eighty-six ($5,386) support level.
Bitcoin BTC chart created with Trading View
After analyzing the 4-hour chart we see that bitcoin is trading above the five thousand four hundred ($5,400) price level.
On 25th April 2019, we noticed that the market momentum decreased and took bitcoin’s price levels dropped down to five thousand two hundred ($5,200) support level. However, after short bullish runs, the support has regained over a hundred and fifty dollars ($150) in the past five days.
On the other hand, if the decreased market momentum decreases the five thousand four hundred ($5,400) support level then crypto will officially be going through tough times.
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Saad B. Murtaza
Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.
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