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<p>The post <a href="https://coinpedia.org/price-analysis/will-bitcoin-btc-price-hit-a-new-ath-this-week/">Will Bitcoin (BTC) Price Hit A New ATH This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The volatility in the cryptocurrency market is on a constant rise as the buying and selling pressure for cryptocurrencies has experienced a massive surge. Moreover, altcoins have recorded the highest gains over the past week, following the approval of the spot <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum</a> ETF, indicating a high possibility of a bull rally.</p> 
<p>With a potential AlSeason on the horizon, BTC price has started entering a consolidation phase. Further, with the dominance of the market leader experiencing a drop, will Bitcoin price record a breakout rally this week or break its support of $67K?</p> 
<p>For long-term investors, to find out if the BTC price will achieve the $100K milestone during the upcoming bull rally, check out CoinPedia’s <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin Price Prediction</a>.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-forms-a-channel-pattern">Bitcoin Price Forms A Channel Pattern:</h2> 
<p>The Bitcoin (BTC) price started the year with a trading price of $42,253.78&nbsp; and displayed a neutral trend for a while. As the market volatility increased, the bulls experienced a surge of 74.5% and recorded a new all-time high (ATH) of $73,750.07 on 14th March.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/ALoEbxHLR9FeVizUEU-9n2Zv_BqJWYal-f83nzd5xAeiGFJBwLm2eJPYqytWpy0W5FLyqDNt_XcVMY3lieDtzzCYw9TAvaUN0dctVefDOm5Uw3IW6AHsNTSpLNRKrcwYFfXI2LaqlbJU4o01WPTmu-4" alt="Bitcoin Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: BTC/USDT
 </figcaption>
</figure> 
<p>Following this, the bulls lost momentum and plunged toward its support level of $60,820. However, the price formed support above that level, resulting in it forming a channel pattern in its 1D time frame.</p> 
<p>Despite recording a correction of 1% with a trading volume of $18.603 Billion (+22.34%) in the past 24 hours, the price of Bitcoin continues to hold its value above the $68K mark and has added approximately 10% this month.</p> 
<p>With a trading price of $68,454.52, a market cap of $1.351 Trillion, and a dominance of 52.2%, the BTC price has a YTD return of 62.18% to its long-term investors.</p> 
<h2 class="wp-block-heading" id="h-btc-market-sentiments">BTC Market Sentiments:</h2> 
<p>The Simple Moving Average (SMA) displays a bearish convergence in the 1D time frame, suggesting a weak price action for the price of Bitcoin in the crypto space.</p> 
<p>Moreover, the technical indicator, MACD, records a constant decline in the green histogram, highlighting an increase in the bearish sentiment within the market. Further, the averages show a high possibility of a negative convergence, suggesting a bearish outlook for the BTC price this week.</p> 
<h2 class="wp-block-heading" id="h-will-btc-price-rise-again">Will BTC Price Rise Again?</h2> 
<p>If the crypto market experiences a bullish reversal in its price chart, the Bitcoin price will test its resistance trendline this week. Furthermore, a successful breakout could result in the BTC token retesting its ATH and heading towards the $80,000 mark.</p> 
<p>In case of bearish sentiment in the crypto space, Star Crypto could test its support level of $67,775. Moreover, if the bulls fail to regain momentum at that level, Bitcoin price will further plunge and prepare to test its lower support level during the upcoming weeks.</p>

Will Bitcoin (BTC) Price Hit A New ATH This Week?

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