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.
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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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