This bearish view will invalidate if the pair turns up from the current levels and breaks above the downtrend line. Such a move could catch the bears off guard and may result in short-covering that could push the Bitcoin Price Price Swaprol GBP back to the high at £30,936. The Bitcoin price GBP pair has dipped back to the 20-day EMA, which is an important support to watch out for. If the price rebounds off this support, it will suggest traders are buying on dips.

• We do not see any attractive trade setup, hence we have not been proposing any trades for the past few days.
• Though a rebound from the current levels can not be ruled out, we do not suggest buying in a falling market.
• Bitcoin plunged below the strong support of £41,931 on November 26 but a positive sign is that the bulls aggressively defended the 100-day simple moving average .
• Today, January 19th, the coin struggles to breach a resistance level at £26,300, with each attempt being followed by a rejection of its price.
• If that happens, the pair could rally to the 50-day simple moving average , which may again act as a stiff resistance.

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The rising 20-day exponential moving average and the relative strength index near the overbought zone indicate advantage to buyers. This indicates that traders continue to buy on dips, anticipating a move higher. The rising moving averages and the relative strength index above 63 signals advantage to buyers. This negative view will be invalidated if the price turns up from the current level and breaks above the all-time high.

If they succeed, the pair could drop to the strong support at £29,000. Both moving averages have flattened out and the relative strength index is near the midpoint, indicating a range-bound action in the near term. The BTC/GBP pair is likely to remain stuck between £24,450 on the downside and £34,032 on the upside. We had mentioned in our previous analysis that the bears will defend the zone between £32,382 and £34,032 aggressively and that is what happened. Bitcoin turned down from £33,987.99 on March 2 and broke below the moving averages on March 4. Bitcoin price GBP has seemingly lost its parabolic momentum but is either poised for another strong run or the expected drop which the industry is poised for.

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Aggressive traders may buy 40% of the desired allocation if the Bitcoin price GBP bounces off £21,000. This trade should not be attempted on the way down but only on a rebound. This is a risky counter-trend trade, hence, traders may keep a close stop-loss to protect their positions because if the £20,000 level cracks, the decline could extend to £15,000.

• This negative view will invalidate if the Bitcoin price GBP rebounds off £38,355 and the bulls push the pair above the downtrend line of the triangle.
• The bulls aggressively purchased the lows, which is a positive sign as it shows strong demand at lower levels.
• The rising 20-day exponential moving average and the relative strength index near the overbought zone indicate advantage to buyers.
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• If the price breaks below the 20-day EMA, the bears will make one more attempt to pull the pair below £41,500.

On the other hand, BTC is highly volatile and records an average daily movement of more than 4%. But BTC is a cryptocurrency that doesn’t belong to any region or country. Thus, the geopolitical and economic factors that affect the price fluctuations of fiat currency have zero impact on Bitcoin. Similarly, Bitcoin’s value tends to drop when negative information around security, like exchanges getting hacked or cryptos stolen, dampen sentiment. Bitcoin Price GBP, According to our assumption outlined in the previous analysis, the bulls could not push the price above the downtrend line. That led to a sharp fall below the 20-day EMA on January 21 and Bitcoin dropped to the 50-day SMA on January 22.

Bitcoin usually drops or rises 10% or higher during a day, or even higher over the week. The Bitcoin price GBP has been clinging to the downtrend line for the past four days, which is usually a positive sign. If the bulls can propel and sustain the Bitcoin price GBP above the downtrend line, the pair may again rally to £28,000 and then to £30,000.

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Bitcoin price GBP witnessed frenzied buying on January 29, which pushed the price above the downtrend line, resulting in a short squeeze that drove the price to £28,000. However, the bulls could not hold on to the breakout and the price gave back a large part of its gains and re-entered the triangle on the same day. If the BTC/GBP pair plummets and closes below £31,011, the next stop could be £26,845. Such a deep fall could delay the start of the next leg of the uptrend.

The pair could remain range-bound for a few days before starting the next trending move. We do not find any reliable setups that offer an attractive https://cryptolisting.org/ trading opportunity. However, the flat moving averages and the RSI just above the midpoint suggest a few days of range-bound action.

The moving averages are on the verge of forming a death cross and the relative strength index is near the oversold zone, indicating that bears are in command. The moving averages have completed a death cross and the relative strength index has dipped below 35, suggesting that bears have the upper hand. If sellers sink the price below £29,000, the BTC/GBP could start the next leg of the downtrend. The sharp fall of the past few days sent the relative strength index near to 20 levels indicating that the selling had been overdone in the short term. Usually, deeply oversold levels are followed by a minor relief rally or consolidation. If the price turns down from the zone, the bears will try to pull the pair below the 20-day EMA.

The flat 20-day EMA and the RSI just above the midpoint also suggest the bulls are losing their grip. This negative view will invalidate if the Bitcoin price GBP rebounds off £38,355 and the bulls push the pair above the downtrend line of the triangle. Such a move will invalidate the bearish pattern and could result in a retest of the all-time high. As the bearish divergence on the RSI warrants caution, we suggest traders remain on the sidelines until a new bullish setup form.

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The BTC to GBP pair surged above the moving averages on April 30 but the bulls could not sustain the rally. The bulls again tried to extend the relief rally on May 3 but met with stiff resistance above the £42,000 level as seen from the long wick on the day’s candlestick. Today, the bears have dragged the price back below the moving averages. The first sign of weakness will be if bears pull the btc to gbp price below the 20-day EMA. If that happens, several short-term traders may book profits, dragging the pair down to the 50-day simple moving average .

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The first support on the downside is £30,000 but if this level gives way, the decline could extend to £26,845. The BTC/GBP pair turned down from £29,000 on February 2 but the bulls successfully defended the £26,000 support. The pair rebounded off £26,649.75 on February 3 and buyers pushed the price above the overhead resistance on February 4. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way.

If they succeed, then it could lead to long liquidation as the aggressive bulls who purchased on February 22 may be forced to cover their positions. If they are able to do that, the Bitcoin price GBP may remain range-bound for a few days. On the other hand, if the bears sink the Bitcoin price GBP below the 50-day SMA, the pair could enter a deeper correction and decline to £21,000. As the bottom is still not in place, we are not proposing a trade in it. Bitcoin price GBP bounced off the 20-day EMA on March 17 fizzled out at £43,125.98 on March 18.

• If the Bitcoin price GBP breaks the 50-day SMA, it will signal a possible trend reversal.
• After just over two years of operation, it is a Top-5 crypto by market cap.
• The relief rally is likely to face stiff resistance at the moving averages.

With buyers stepping in at £21,000 and sellers at £31,005, the stage seems to be set for a consolidation between these two levels for a few days. However, if the bears sink the price below £21,000, the selling could intensify and the pair could drop to £15,000. This negative view will invalidate if the bulls push and sustain the price above £31,005.

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Traders who bought on our recommendation may book partial profits and trail the stops higher on the rest of the position. Bitcoin price GBP bounced off the 100-day simple moving average on September 29 and broke above the descending channel on October 1. The 20-day exponential moving average has turned up and the relative strength index has jumped into the positive territory, indicating that bulls have the upper hand. If the price breaks below the 20-day EMA, the bears will make one more attempt to pull the pair below £41,500. If they succeed, the pair could plummet to the 50-day simple moving average .

Crypto investors must stay abreast with the news related to BTC, such as hard forks. Also, the overall approach of mainstream finance to both crypto and regulation will be crucial for both long-term and intraday trading of BTC/GBP. When holding the pair for the long-term, crypto traders must learn to stay calm when volatility lasts for the short-term.

The downsloping 50-day SMA and the relative strength index in the negative territory suggest that the path of least resistance is to the downside. We had said in our previous analysis that Bitcoin was oversold and could be ready for a bounce to the breakdown level of £29,000 and that is exactly what happened. Professionals working for rural advisory services and in knowledge institutes who are involved in agribusiness and entrepreneurship.

If the price turns down from the 20-day EMA, it will suggest that traders are liquidating their positions at higher levels. The deeper the decline, the longer it will take for the BTC/GBP pair to stage a recovery and challenge the all-time high. This negative view will invalidate if the pair climbs above the moving averages. Such a move could open the doors for a retest of the £44,238 to £47,240.05 overhead resistance zone.

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Although the price rebounded off the 50-day SMA, the bulls could not push and sustain the price above the 20-day EMA. This suggests the sentiment has turned bearish and traders are now looking to sell on rallies to strong resistance levels. If the bulls can propel the Bitcoin price GBP above this resistance, the pair could reach the psychological level at £50,000. The 20-day EMA has started to rise again and the RSI has risen above 63 levels, which suggests the bulls are back in the driver’s seat. If the Bitcoin price GBP turns down from the all-time high, the pair may consolidate between £36,759.61 and £41,795 for a few days. Although the trend is bullish, we do not find a trade with an attractive risk to reward ratio, hence, we are not recommending any fresh long positions.