Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send a Sats as a tip to a writer. Each and every one of our writers has an active tipping widget.

  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress Bitcoin Market Analysis 21st May 2019

written by

Bitcoin Market Analysis 21st May 2019

Support free journalists: > send a tip

The new week began with a surprise from the buyers who were able to close the last week’s candle almost without a pin, thus leaving the sellers hope for a short-term trend change: Bitcoin Market Analysis 21st May 2019

On a weekly timeframe, we see that buyers break through the blue trend line. And this week there is a high probability of consolidation over the trend line. Consolidation is also evidenced by volumes that are gradually decreasing. If sellers after a few attempts will not be able to break through the blue trend line down, this consolidation will be considered by buyers as fixing the price over the trend line and the lack of threat from the side of sellers. Otherwise, we expect a test of the price zone of $6,300-6,600.

If you analyze the mood of buyers, then marginal positions during a new week do not actually change. After aggressive increase in positions on Sunday, buyers are waiting for a new impulse: Bitcoin Market Analysis 21st May 2019

Sellers also took the waiting position: Bitcoin Market Analysis 21st May 2019

According to the wave analysis, taking into account the latest wave of growth since 25 April, at the price of $7,080, sellers managed to correct this wave of growth by 38.2%. In the result of this correction, a triangle formed in which probably will be 5 waves. After that, the correction will continue to $6,300-6,600 and at this price, the 4th wave will be formed. Another option is continuation of the growth in the form of the 5th wave: Bitcoin Market Analysis 21st May 2019

During this probable consolidation, other coins which can not keep pace with Bitcoin may start aggressive growth.

In general, we have noticed that growth is given to buyers much easier than sellers fall. Pay attention to the daily timeframe: Bitcoin Market Analysis 21st May 2019

First of all, how easily on 19 May, buyers returned the price to a point of $8,175. Before that, sellers have been trying to push the price down for three days.

Therefore, in the best case for sellers, consolidation in the triangle will continue, and they will have a chance to break through the triangle down to the final target of $6,300-6,600, and in the worst case, buyers sell their growth to the price $9,500. Let’s see, on Thursday, which scenario will work.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

About the Author: Peter Oleshchuk is a trader and technical analyst.

He has spent two years studying and analyzing the crypto market.

Image Courtesy: Bitcoin News

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter