Bitcoin Could Recover Significantly And Only 1 Thing Is Holding It Back

2020-6-30 07:08

Bitcoin is slowly moving higher and trading above the $9,100 level against the US Dollar. BTC could start a strong upward move if it clears the $9,300 and $9,340 resistance levels.

Bitcoin is showing a few positive signs above the $9,000 and $9,100 levels. The price is trading above the 100 hourly simple moving average, but it is still well below $9,300. There was a break above a crucial bearish trend line with resistance near $9,170 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is lacking bullish momentum and it could dive again unless it breaks the $9,300 resistance. Bitcoin Price is Showing Recovery Signs

Yesterday, bitcoin started a decent recovery wave from the $8,813 swing low against the US Dollar. BTC climbed above the $9,000 pivot level to move into a short term positive zone.

The recovery wave such that the price was able to settle above $9,100 and the 100 hourly simple moving average. Moreover, there was a break above a crucial bearish trend line with resistance near $9,170 on the hourly chart of the BTC/USD pair.

However, the price is lacking momentum above the $9,200 resistance level. It is currently consolidating near the broken trend line at $9,170. An initial support is near the 23.6% Fib retracement level of the upward move from the $8,813 low to $9,226 high.

Bitcoin price breaks $9,200: Source: TradingView.com

The main support is now forming near the $9,000 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $8,813 low to $9,226 high.

On the upside, the price must surpass the main $9,300 and $9,340 resistance levels to move into a positive zone. If the bulls succeed, there could be a sharp upward move towards the $9,500 and $9,550 resistance levels.

Bearish Reaction in BTC?

If bitcoin struggles to continue higher above $9,200 or $9,300, there is a risk of a bearish reaction. On the downside, the $9,000 support and the 100 hourly SMA hold the key.

A successful close below the $9,000 support level could negate the chances of an upside break. In the stated case, the price will most likely resume its decline towards $8,800 or even $8,650 in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is struggling to gain pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is correcting lower towards the 50 level.

Major Support Levels – $9,100, followed by $9,000.

Major Resistance Levels – $9,220, $9,300 and $9,340.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68780.58 (-0.16%)
Объем 24H $41.744b
Изменеия 24h: -0.07 %, 7d: -3.43 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1360.344b Rank 1
Цена в час новости $ 9135.08 (652.93%)

bitcoin levels 100 could above upward move

Источник: newsbtc.com

bitcoin levels → Результатов: 126


Bitcoin Price Analysis: The Bears Are Struggling to Take BTC Below $6k, But That Might Not Happen

Resistance levels: $6,759, $7,363, $8,075, Support levels: $6,118, $5,858, $4,800 BTC/USD Medium-term Trend: Bearish The cryptocurrency is bearish in its medium-term. Before the bearish trend, which took place between yesterday and today the price of Bitcoin had been range bound between the resistance levels of $6,759 and support level of $6,118 in the last 30 […] The post Bitcoin Price Analysis: The Bears Are Struggling to Take BTC Below $6k, But That Might Not Happen appeared first on ZyCrypto.

2018-10-11 19:07


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.