Bitcoin Price Analysis -Week 2 [March 2019]
Bitcoin price was above the support level of $3,800 during the week. If we look at the bitcoin price history then it traded above $3,860 in second week. On 16th it even crossed the resistance level of $4,000, but it is still uncertain and quite challenging for bitcoin to keep it above this level.
Bitcoin Price Analysis
In our weekly bitcoin price analysis, it was observed that bitcoin price is likely to remain above $3,900 and is willing to show some bullish trend in coming week. BTC/USD not only broke the resistance level of $4,000, but it also went up to $4,441.
As selling interest was below $4,000 the price went below and was trading near $3,940. Looking at the line chart for opening and closing price of bitcoin, the trend seems to be good so far.
For the next week:
- Support level seems to be ok at $3,900
- Major resistance level could be $4,000
Data Source: coingecko
Disclaimer: We do not encourage or suggest anybody to invest in Bitcoin and other Cryptocurrencies, please do your own full research and follow the law/rules as per your country standard.