Bitcoin (BTC) Price Analysis: Potential Upside Targets

2018-11-2 03:42

Bitcoin is ready to resume its climb as the bottom of the ascending channel on the 4-hour chart continues to hold as a floor. Applying the Fibonacci extension tool shows these next potential upside targets.

The 38.2% level lines up with the dynamic inflection points at the moving averages so there may be some resistance there. The 50% level coincides with the mid-channel area of interest around $6,670 which previously held as support. The 78.6% level is near the top of the channel at $6,900 while the full extension is beyond this at $7,075.

The moving averages are still oscillating and have yet to catch up on the latest moves, so these indicators aren’t providing directional clues for now. Stochastic is in the move up to suggest that buyers have the upper hand, but the oscillator is nearing the overbought zone to indicate rally exhaustion. Turning back down could bring selling pressure back in the mix.

RSI is just halfway through on its climb towards the overbought area, which suggests that buyers have plenty of time to stay in control. This might be enough to take bitcoin to the closest resistance zones before profit-taking happens.

Bitcoin is coming off a rough start for the week on account of futures settlement dips and the hack on MapleChange. There were also negative remarks from former Fed head Yellen and JPMorgan CEO Dimon, but bulls seem to be brushing these off.

The start of a new month typically brings optimism back to the industry as traders await fresh developments. The report from Morgan Stanley highlights this as it pointed to the evolution in the bitcoin ecosystem towards institutional interest and stablecoin development.

Traders are also awaiting the launch of bitcoin futures on ICE Bakkt in hopes that increased volumes and activity could usher in a big rebound before the year closes.

The post Bitcoin (BTC) Price Analysis: Potential Upside Targets appeared first on Ethereum World News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69532.37 (+0.29%)
Объем 24H $43.962b
Изменеия 24h: 1.72 %, 7d: -3.27 %
Cегодня L: $66916.68 - H: $70054.19
Капитализация $1376.412b Rank 1
Цена в час новости $ 6524.28 (965.75%)

targets bitcoin potential upside btc analysis price

Источник: ethereumworldnews.com

targets bitcoin → Результатов: 70


Фото:

Exchanges Roundup: SBI to Develop Wallet, Huobi Targets New Markets

In recent news pertaining to cryptocurrency exchanges, SBI Group has unveiled a partnership with Sepior that will see the companies jointly develop a proprietary wallet, Huobi has announced it is establishing an operational base in Dubai to target the African, Middle Eastern, and South Asian cryptocurrency markets, and Trijo, a Swedish crypto exchange, has received […] The post Exchanges Roundup: SBI to Develop Wallet, Huobi Targets New Markets appeared first on Bitcoin News.

2018-10-27 22:00


Фото:

Exchanges Round-Up: Palestinians Use Crypto to Transfer Offshore, LXDX Targets Retail Investors

In recent news pertaining to cryptocurrency exchanges, Palestinians are reportedly turning to crypto brokers to facilitate cross-border transactions, XBT Provider has revealed plans to launch an exchange-traded product that will track between 5-10 cryptocurrencies, and LXDX has announced that it will make its platform available to retail investors.

2018-9-19 23:55


Фото:

FINRA Targets Cryptocurrency Firm Marketing HempCoins for Selling Unregistered Securities

Financial regulators in the United States are now taking steps to ensure that firms engaged in cryptocurrency-related activities operate within the confines of the law. In a recent move, the Financial Industry Regulatory Authority (FINRA) is accusing Rocky Mountain Ayre President Timothy Tilton Ayre of selling unregistered securities in connection with the company’s sale of […] FINRA Targets Cryptocurrency Firm Marketing HempCoins for Selling Unregistered Securities was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-9-17 13:24


Фото:

Exchanges Roundup: Startup Targets Crypto Micro-Investments, Kraken Denies Halifax Closure

In recent news pertaining to cryptocurrency exchanges, Perth-based Bamboo has announced it will launch an app designed to easily facilitate micro-investments in cryptocurrencies, Kraken has rejected an internet rumor that claimed the company had closed a Canadian facility amid security concerns, and Roboforex has increased the leverage available on its cryptocurrency markets to 1:50.

2018-9-11 21:45


Фото:

AMA With Origin Team Reveals Plans for Decentralized Sharing Economy

Matt Liu, Josh Fraser and former PayPal head Yu Pan want to bring the blockchain to the sharing economy. The trio is devising a platform with an emphasis on inclusive, peer-to-peer service hubs designed to decentralize the same consumer cost-friendly business models that have made companies like Airbnb, Uber and Lyft so popular in recent years.

2018-8-16 23:25


Фото:

Regulations Round-Up: Holland Targets Electricity Theft, MI Republican Wants More Oversight

In recent regulatory news, Dutch police have reported an increase in electricity fraud associated with crypto mining, a Michigan Republican member of the House Financial Services Committee has urged Congress to make the development of clear guidelines overseeing the cryptocurrency industry a top priority, and digital currency advocacy group, Chamber of Digital Commerce, has published […] The post Regulations Round-Up: Holland Targets Electricity Theft, MI Republican Wants More Oversight appeared first on Bitcoin News.

2018-7-31 18:35


дальше еще 21 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin (BTC) Wallets Cross 48 Million for the First Time

Bitcoin has hit another milestone in its rocky journey towards global mainstream adoption. Surpassing 2022 figures in the process. The post Bitcoin (BTC) Wallets Cross 48 Million for the First Time appeared first on BeInCrypto.