Bitcoin (BTC) Price Analysis (May 13)

Key Highlights

• BCT/USD market still swings in ranges of $9,000 and $8,500 values.
• A violent breakout of the $9,000 line will lead to having a good entry for long positions.
• Sellers may as well be taking the market advantage from that point if bulls persistently have to encounter tough-areas around the same line earlier mentioned.

Bitcoin (BTC) Price Analysis

• Major supply zones: $9,500, $10,000, $10,500
• Major demand zones: $8,000, $7,500, $7,000

Both Bitcoin and the US Dollar currencies have continued to swing around $9,000 and $8,500 market zones over a couple of days. The crypto hasn’t had the required energy as it has only been able to reverse the fiats worth several after momentarily pushing past the lower range value.

The $9,000 upper range line of the market needs to violently breach northward, to have a bullish candlestick signaling a reliable uptrend return in this crypto-trade activity. Sellers may as well be taking the market advantage from that point if bulls persistently have to encounter tough-areas around the same line earlier mentioned.

Bitcoin (BTC) Technical Indicators Reading

Both the Upper and the Middle Bollinger Band trend-lines have crossed the 50-day SMA trading indicator from the top. The SMA trend-line is a bit over the $9,000 current range price point. The Lower Bollinger Band is at the $8,500 lower range point. And, price now hovers around the ranges presently. The Stochastic Oscillators have freshly placed a bit over range 60. And, they now appear to begin a consolidation move around the region. That signals an ongoing featuring of smaller ups and smaller down in the market operations.

Conclusion

On a general ground, indications have shown it that a critical price zone lies around an upper range trading point at a $9,000 mark. And, bulls may yet not find it smoothly, breaking through it to the north as at the moment of writing. All in all, technical indicators back that buying spree is in the offing. Therefore, traders should look out for decent buy entries coupled with active price action before placing an order in this crypto-economy.

 

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Ben Jordan
Ben Jordan
Ben began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,436FansLike
2,797FollowersFollow
4,189FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Roadmap to Full Decentralization to Begin with Issuance of COMP to Their Community

Compound will now issue COMP tokens to the users of their protocol in a bid to achieve full decentralization. They have released an...

Crypto Payment Processor BitPay Sees More Use in Stablecoins than Layer-2 Solutions

Rising fees on the Bitcoin blockchain after the halving will not set BitPay, a crypto payments startup, into using layer 2 payment channels...

Digital Dollar Foundation Releases Its First Whitepaper Urging The US Govt To Explore CBDC's

Christopher Giancarlo’s Digital Dollar Foundation releases its first white paper on the digital dollar. The projects aims at implementing a private-public partnership with...

Ethereum is Close to Being Flipped on its Own Blockchain As the Total Value Stored Is Shifting

The Ethereum network has been seeing a lot of activity in 2020. The price of Ether already seems to lead the altcoins rally, currently trading...

Coinbase, Who Controls Over 11% of Tezos, Rolls Out XTZ Staking in the UK, France, Spain, and the Netherlands

Over 6 months back, Coinbase launched Tezos staking for its US customers and now they are rolling this feature out for its users in...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today