Bitcoin (BTC) Price Weekly Forecast: Risk Of Additional Losses

2019-9-22 08:00

There was a fresh decrease initiated in bitcoin from the $10,400 resistance against the US Dollar. The price is currently trading below the $10,100 support area, with a bearish angle. There was a break below a crucial contacting triangle with support near $10,010 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price is likely to extend its decline and it may soon revisit the $9,650 and $9,500 supports.

Bitcoin price is trading with a bearish bias below $10,400 against the US Dollar. BTC could continue to move down towards the main $9,500 support area.

Bitcoin Price Weekly Analysis (BTC)

This past week, there were swing moves in BTC below the $10,400 resistance area against the US Dollar. The BTC/USD pair declined sharply below the $10,000 support and tested the $9,650 level. Later, it bounced back above the $10,000 level and $10,200 levels. However, the price struggled to break the $10,400 resistance area and the 100 simple moving average (4-hours).

As a result, a short term top was formed near $10,383 and the price started a fresh decline. It broke the $10,200 support and settled well below the 100 SMA. Additionally, there was a break below the 50% Fib retracement level of the last major wave from the $9,637 low to $10,383 high. More importantly, there was a break below a crucial contacting triangle with support near $10,010 on the 4-hours chart of the BTC/USD pair.

The pair is now trading well below the $10,000 level and is moving with a bearish angle. An immediate support is near the $9,800 level. It coincides with the 76.4% Fib retracement level of the last major wave from the $9,637 low to $10,383 high. If there are more downsides, bitcoin price could revisit the $9,650 support area. The main support area is near the $9,500 and $9,400 levels, below which there could be a sharp drop to $9,000.

On the upside, the recent support near the $10,100 level might act as a resistance. The key resistances are near $10,300, $10,400 and the 100 simple moving average (4-hours). To start a solid upward move, the price must settle above the $10,400 resistance and the 100 simple moving average (4-hours).

Looking at the chart, bitcoin price is clearly struggling to gain bullish momentum above $10,200 and $10,300. Therefore, there is a risk of additional losses below the $9,800 and $9,650 support levels.

Technical indicators

4 hours MACD – The MACD for BTC/USD is currently gaining strength in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 40 level, with bearish signs.

Major Support Level – $9,500

Major Resistance Level – $10,400

The post Bitcoin (BTC) Price Weekly Forecast: Risk Of Additional Losses appeared first on NewsBTC.

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Цена в час новости $ 0.000429 (14.22%)

btc bitcoin price risk weekly below support

btc bitcoin → Результатов: 126


Фото:

Bitcoin Unable To Break Upward As 1.6 Million BTC Resistance Wall Blocks Path

On-chain data shows the presence of a massive Bitcoin supply wall around the $97,200 level, something that could impede BTC’s advances beyond the mark. Bitcoin Has Significant Resistance At Price Levels Just Ahead In a new post on X, the market intelligence platform IntoTheBlock has discussed how BTC support and resistance levels are looking from an on-chain perspective right now.

2025-2-13 08:00


Bitcoin May Hit $1.5 Million By 2035 According To Metcalfe’s Law, Analyst Predicts

As Bitcoin (BTC) continues its pullback into the low $90,000 range, analysts are divided on how much further the top cryptocurrency might fall before a potential bounce. However, long-term market observers remain confident, emphasizing that short-term price action does not alter their belief in BTC’s eventual rise to a million dollars or more in the coming years.

2025-1-10 09:30


Фото:

MicroStrategy’s smallest Bitcoin acquisition in 8 weeks sees BTC drop to $92,000

Bitcoin’s price fell by 2% within an hour after MicroStrategy announced its eighth consecutive weekly BTC acquisition. According to CryptoSlate’s data, the market reaction was less enthusiastic about the firm’s latest Bitcoin purchase, which dragged BTC down to $92,900 at the time of writing —a 10% drop from its record high of over $108,000.

2024-12-31 19:00