Bitcoin is trading in a positive zone above $9,150 and $9,200 against the US Dollar. BTC could start a strong rally if there is a clear break above $9,400 and $9,500.
Bitcoin is slowly rising towards the key $9,400 and $9,500 resistance levels.
There are high chances of a strong surge if the bears fail to defend $9,500.
There is a major bullish trend line forming with support near $9,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might correct a few points, but the $9,100 support zone could act as a buy zone.
Bitcoin Approaching Significant Resistance
Bitcoin price popped above the $9,150 and $9,200 resistance levels against the US Dollar to move into a positive zone. BTC price even climbed above $9,300 and settled above the 100 hourly simple moving average.
The bulls made a couple of attempts to gain bullish momentum above $9,400, but they failed. A new weekly high was formed near $9,429 before the price corrected lower. It traded below 23.6% Fib retracement level of the upward move from the $8,784 low to $9,429 high.
However, bitcoin found support near the $9,100 region (the recent breakout zone). More importantly, there is a major bullish trend line forming with support near $9,180 on the hourly chart of the BTC/USD pair.
Bitcoin Price
The pair also found support near the 50% Fib retracement level of the upward move from the $8,784 low to $9,429 high. It is currently rising and approaching the $9,400 resistance. To continue higher, the bulls need to gain momentum above the $9,400 and $9,500 levels.
A successful daily close above the $9,500 level might turn crucial and the price could start a strong rally towards the $10,000 and $10,500 levels.
Another Rejection
If bitcoin price continues to struggle near the $9,400 resistance or fails near the $9,500 level, there could be a bearish reaction. An initial support on the downside is near the $9,200 zone.
The first major support is near the $9,100 level, below which the bears are likely to aim more downsides towards the $8,600 support in the near term. Any further losses could start a sustained downward move towards the $8,000 handle.
Technical indicators:
Hourly MACD – The MACD is about to move into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently near the 60 level, with a minor bearish angle.
Major Support Levels – $9,200 followed by $9,100.
Major Resistance Levels – $9,400, $9,420 and $9,500. origin »
Bitcoin price gained pace above the $61,500 resistance. BTC even cleared the $63,300 level and is now consolidating gains above $62,500. Bitcoin is gaining pace above the $62,200 resistance zone.
Bitcoin finally broke above $38,500 once more after trading low for a couple of days. This latest jump in price may come as a surprise to many but the factors behind it suggest that it had already been in the making.
Bitcoin remained strong above the $29,500 support against the US Dollar. BTC could start a major increase if there is a clear move above the $31,500 resistance. Bitcoin started a fresh increase from the $29,500 support zone.
Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500. Bitcoin is trading in a positive zone above $42,500 and $42,800.
Bitcoin price is showing positive signs above $58,500 and $59,500 against the US Dollar. BTC is likely to accelerate higher above $61,000 and $62,000 in the near term. Bitcoin gained bullish momentum above the $58,500 and $59,200 resistance levels.
Ethereum started a strong increase above $470, similar to bitcoin above $17. 5K against the US Dollar. ETH price is trading above $490 and it is likely to surge above $500. Ethereum is trading with a strong bullish momentum above the $470 and $485 support levels.
Chainlink (LINK) rallied close to $14. 500 before starting a downside correction against the US Dollar. It is currently holding the $12. 500 and it seems to be aligning for more gains above $15. 000.
According to a trader and analyst Michael van de Poppe, Bitcoin is likely to be ready for surging towards $16,000 after it retests and breaks above the $10,500 level
Bitcoin found a strong buying interest above $8,200, resulting in a fresh increase above $8,500. BTC price is currently above $8,600 and the bulls seem to be eyeing a break above $8,800 and $9,000.
Key Points Bitcoin price declined recently and tested the $6,350 support level against the US Dollar. There was a break above a connecting bearish trend line with resistance at $6,410 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The cryptocurrency markets appear to be on an upswing today, July 2, after recovering slightly after last week saw Bitcoin (BTC) dip below $6,000, twice. Market visualization from Coin360 Bitcoin is above $6,500, trading for around $6,599 by press time and up around 4 percent over a 24 hour period. Bitcoin price chart. Source: Cointelegraph
BTC/USD Medium-term Trend: Bullish Resistance Levels: $6,400, $6,500, $6,600 Support levels: $6,200, $6,100, $6,000 Last week the BTC/USD pair was trading above $6,000 price level all through the week.
The new regime seeks to allocate up to 500 megawatts, in addition to 120 megawatts of already existing initiatives. The starting rate is reportedly 1 Canadian cent ($0. 0075) per kilowatt hour, which is 20 percent above the industry standard price.
Total market cap of all cryptocurrencies from Coinmarketcap Bitcoin (BTC) is trading around $6,663 at press time, down 2. 6 percent over the 24-hour period. The leading altcoin is nonetheless holding ground above the $500 mark, after an intra-weekly low saw it drop to $486.
Key Points Bitcoin price formed a support base above $6,300 and recovered higher against the US Dollar. There was a break above yesterday’s highlighted crucial bearish trend line with resistance at $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights ETH price made a nice upside move and broke the $495 resistance against the US Dollar. There was a break above a major bearish trend line with resistance at $498 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin price failed to move above the $6,600 resistance and it currently under pressure against the US Dollar. There is a significant bearish trend line formed with resistance at $6,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights ETH price was not able to move above the $510 resistance and is currently under pressure against the US Dollar. There was a break below a crucial bullish trend line with support at $500 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin price is currently consolidating around the $6,500 level against the US Dollar. The BTC/USD pair is currently attempting an upside break above a declining channel with resistance at $6,500 on the 4-hours chart (data feed from Kraken).
Bitcoin (BTC) is still in recovery mode, but the bulls must keep prices above key support seen just below $6,500 to maintain momentum, the technical charts indicate. However, bargain hunters were short in supply and prices fell back below $6,600 at 01:00 UTC today. Bitcoin has spent a better part of the last seven hours
Key Highlights ETH price is moving higher and is recovering above the $500 level against the US Dollar. There was a break above a major bearish trend line with resistance at $482 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin (BTC) has made a 6 percent recovery from the 90-day low hit on Wednesday, neutralizing the immediate bearish outlook. Hence, the subsequent recovery to $6,500 levels currently is hardly surprising and indicates that bitcoin may have found a temporary bottom around $6,100.
Key Points Bitcoin price failed to recover above the $6,750 and $6,800 resistance levels against the US Dollar. There is a key bearish trend line formed with resistance at $6,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
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