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Bitcoin price spikes to $5,454 - What is next?

OctaFx | Apr. 11, 2019
Bitcoin price spikes to $5,454 - What is next?

April 11, OctaFX – Bitcoin has spiked to a fresh monthly trading high, hitting $5,454, as the BTCUSD pair continues to build bullish momentum above the $5,200 level.

BTCUSD price technical analysis

The $5,454 and $5,700 levels currently offer the strongest forms of technical resistance if the number one cryptocurrency advances higher. The MACD indicator on the four-hour time frame is currently showing bearish price divergence extending down to the $4,700 level.  

  • The BTCUSD pair is bullish while trading above the $4,900 level, key intraday resistance is found at the $5,454 and $5,700 levels.

  • If the BTCUSD pair trades under the $4,900 level, sellers may test towards the $4,700 and $4,450 support levels.

Bitcoin price spikes

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.