Bitcoin (BTC) Price Watch: Still Waiting for Directional Clues

2018-8-13 07:08

Bitcoin Price Key Highlights

Bitcoin price is trending below a short-term descending trend line as it hovers at the long-term floor. Traders are likely waiting for the next catalysts to decide which direction the breakout could take. Technical indicators appear to be suggesting a slowdown in bullish momentum soon.

Bitcoin price is still trending lower on the short-term time frame but buyers are defending the long-term floor.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA but is gearing up for a bearish crossover to signal a pickup in selling momentum. In that case, price could have stronger odds of breaking below the $6,000 support zone and trending lower.

Price is also moving below a short-term descending trend line, which is keeping near-term gains in check. A break past this level could still encounter some selling pressure at the dynamic inflection points on the moving averages.

RSI is turning higher after previously climbing out of the oversold area, though, so there may still be a pickup in buying pressure from here. Stochastic is also heading higher to suggest that buying momentum could stay in play for a bit longer. Once both oscillators reach overbought levels and turn lower, selling pressure could return.

BTC/USD Chart from TradingView

Market Factors

Bitcoin price continues to struggle to keep its head afloat after a couple of rough weeks, the latest of which featured a decision by the SEC to delay their ruling on remaining bitcoin ETF applications.

With that, traders could stay on edge until September or when the decision is announced. Even then, another denial for the proposed rule change could mean more losses for bitcoin price and the rest of its cryptocurrency peers. Approval, on the other hand, could be the positive catalyst that investors are waiting for in order to sustain the expected rebound for the remainder of the year.

The post Bitcoin (BTC) Price Watch: Still Waiting for Directional Clues appeared first on NewsBTC.

origin »

Bitcoin (BTC) на Currencies.ru

$ 98178.33 (-0.21%)
Объем 24H $31.663b
Изменеия 24h: 1.52 %, 7d: 1.52 %
Cегодня L: $98100.8 - H: $98523.76
Капитализация $1946.584b Rank 1
Цена в час новости $ 6525.42 (1404.55%)

bitcoin price waiting still trending directional btc

bitcoin price → Результатов: 126


The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies.   As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.

2025-2-18 15:05


Bitcoin Price Remains Bullish As Monthly Stochastic Sits Above 80, Here’s Why

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]

2025-1-15 18:30


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Are Bitcoin Whales Still Holding For Higher Profit? This On-Chain Signal Suggests So

The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]

2024-12-15 12:30