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- Bitcoin prices rise, target of $ 6,000
- Participation levels decrease but may increase as BTC progresses
Analysts are optimistic and, while some say the bears are still under control, a combination of positive fundamentals and favorable candlestick arrangements means that Bitcoin bulls (BTC) are firm. An easy target is $ 6,000.
Bitcoin price badysis
fundamentals
It's always a struggle between supply and demand. Aside from the element of hype that is honestly difficult to evaluate, it is clear that the market is at its lowest. We may even be in the crypto-source and at the very beginning of the next bullish wave that would bring the bitcoin to $ 100,000 or more. At least that's what badysts see.
The only volume should tell you that we are out of the bear market. It is a HUGE indicator. #Bitcoin #cryptocurrency #ethereum
– WolfOfMillions (Crypto) (@WolfOfMillions) April 5, 2019
Earlier, we indicated how the halving of next year would accelerate gains toward $ 130,000 or more. However, we have an educated market and temperate investors. After the doldrums of last year, a mix of technical candlesticks, mature markets and regulators contributing to volume growth is favorable. With better liquidity and whales in the equation, the depth of the market is deep and the stories of the super rally of late 2017 would likely be an isolated event.
To confirm the end of the bear market, we must exceed $ 6,000. It looks like there is too much resistance, so it could take a long time. We could earn between $ 3,000 and $ 5,000 by at least September. #bitcoin ?
– A v B ⚡ (@ArminVanBitcoin) April 2, 2019
Also, if we take into account Perma bears who think that even if Bitcoin prices exceed $ 6,000, the bears would fall again by the end of 2018, so it's easy to see why the path to $ 12,000 or better still. USD 000 is fraught with pitfalls and uncertainty.
Even in this case, what would bother them and pave the way is the US SEC's bullish announcement of their approval of one of nine Bitcoin ETFs or China allowing the return of trade – which we all know , by their recent position, is ideal but distant.
Chandelier arrangement
Bitcoin bulls (BTC) are stable and are progressively closer to our ideal objectives, between $ 5,800 and $ 6,000. As we mentioned earlier, the BTC / USD is trading on an uptrend.
In addition, as they are firm above $ 4,500 and, more importantly, above $ 5,000 psychological, BTC tends to reach monthly highs above a critical resistance trend curve visible in the weekly chart.
As last week's bullish is fair and all our trading conditions are true, buyers can look for undervaluation in shorter time frames, ideally above $ 44,700, baduming there is a withdrawal. with the first goal at $ 6,000. If this is not the case and buyers clear $ 5,200 due to the momentum, buyers can enter the market rate with stops of $ 4,800 while they target $ 6,000.
Technical indicators
Volumes are declining, but we expect participation in the coming days. Of course there is no counter bar with high volumes exceeding $ 54,000 canceling the April 2 gains and invalidating our bullish outlook. Ideally, the increase above $ 6,000 should be accompanied by high volumes over April 54 from April 2, cementing our bulls and basing the base at $ 8,000.
Chart courtesy of Trading View
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