Bitcoin struggled to break the $8,900 resistance on two occasions against the US Dollar. BTC price is showing a few bearish signs and it seems like it could decline towards $8,300 or $8,200.
Bitcoin price is likely forming a double top pattern near the $8,900 resistance against the US Dollar.
The price is down 3% and it is now trading below the $8,700 support.
There was a break below a key bullish trend line with support near $8,660 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair seems to be vulnerable and it could break the $8,500 support in the near term.
Bitcoin Could Correct Towards $8,200
Yesterday, bitcoin extended its rally above the $8,500 resistance against the US Dollar. BTC price climbed towards $9,000, but it struggled to clear the $8,900 resistance area.
The bulls made two attempts to surpass the $8,900 resistance area, but they failed. As a result, there was a bearish reaction below the $8,700 and $8,660 support levels.
Moreover, there was a break below a key bullish trend line with support near $8,660 on the hourly chart of the BTC/USD pair. It is now trading below the 23.6% Fib retracement level of the upward move from the $8,040 swing low to $8,898 high.
Bitcoin Price
An immediate support is another bullish trend line at $8,610 on the same chart. The first key support is near the $8,540 level (the previous breakout zone). If the price breaks the $8,540 support, it will most likely carve a double top near the $8,900 area.
In the mentioned bearish case, bitcoin price is likely to slide below the 50% Fib retracement level of the upward move from the $8,040 swing low to $8,898 high.
The main target for the bears may perhaps be near the $8,240 and $8,200 support levels (double top target levels). Any further losses could lead BTC price towards $8,000.
What If BTC Stays Above $8,540?
If BTC stays above the neckline support at $8,540 and $8,500, it would invalidate the double top pattern. On the upside, an initial resistance is near the $8,700.
The key hurdle for bitcoin is near $8,900, above which the bulls are likely to target the next important hurdle near the $9,200 and $9,250 levels.
Technical indicators:
Hourly MACD – The MACD is now gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below 50 and it is showing a few bearish signs.
Major Support Levels – $8,610 followed by $8,500.
Major Resistance Levels – $8,700, $8,900 and $9,000. The post appeared first on NewsBTC. origin »
The Bitcoin price is approaching the $100,000 level again after experiencing significant declines these past weeks. A crypto analyst has pointed out that the critical resistance level at $99,800 is crucial for Bitcoin’s next move.
Bitcoin struggled against $67,583 resistance; breaking this level could trigger a move toward $70,000.
RSI and MACD show weakening momentum, while rising active addresses suggest potential bullThe post Bitcoin eyes bullish breakout, but can BTC smash THIS major resistance? appeared first on AMBCrypto.
Bitcoin price started another increase above the $60,500 resistance. The Fed reduced rates by 0. 50%, sparking a bullish wave in BTC toward $62,500. Bitcoin is gaining pace above the $60,200 resistance zone.
Bitcoin is under pressure and struggling to peel back losses from early this week. Even with prices stabilizing in the last day, the path of least resistance is southwards for now. For the trend to shift, there must be a convincing close above the local resistance at around $66,000.
An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.
Bitcoin price extended gains above the $68,000 resistance level. BTC bulls seem to be in action, and they might aim for a move toward the $70,000 level. Bitcoin started a fresh increase above the $66,500 resistance zone.
Bitcoin price extended its increase above the $67,500 resistance. BTC tested the $68,000 resistance and is currently correcting gains. Bitcoin started a downside correction after it climbed toward the $68,000 resistance zone.
Bitcoin price started a steady increase above the $62,500 resistance. BTC is again struggling to clear the $64,500 and $65,000 resistance levels. Bitcoin is showing positive signs and facing hurdles near $64,500.
Bitcoin price failed to settle above the $72,000 resistance. BTC corrected gains and now moving lower toward the $67,500 support zone. Bitcoin struggled to clear the $72,000 and $72,500 resistance levels.
Bitcoin price is again rising above the $70,000 resistance zone. BTC seems to be setting up for a steady increase above the $71,500 resistance zone. Bitcoin price is climbing higher and above the $70,000 resistance zone.
Bitcoin price is attempting a fresh increase above the $52,000 resistance. BTC must clear the $52,800 resistance to continue higher in the near term. Bitcoin price is gaining pace above the $52,800 resistance zone.
Bitcoin price is up over 5% and it broke the $40,000 resistance. BTC is rising and might soon climb higher toward the $42,000 resistance. Bitcoin broke the $38,500 resistance zone and surged above $40,000.
Bitcoin price trimmed all losses and climbed above $37,000. BTC is now eyeing a major upside break above the $37,750 and $38,000 resistance levels. Bitcoin is showing positive signs and testing the $37,750 resistance.
Bitcoin price rallied further above the $37,200 resistance zone. BTC is now consolidating and might aim for more upsides above the $37,600 resistance zone. Bitcoin started a strong increase above the $37,200 resistance zone.
Bitcoin price cleared the key $35,000 resistance. BTC is showing positive signs and might rally toward the $36,200 and $37,000 levels in the near term. Bitcoin is gaining pace above the $35,000 resistance.
Crypto analyst Jason Pizzino said in a recent YouTube video that Bitcoin has broken above a key monthly resistance level for the first time since the 2018 bear market.
Bitcoin price started a downside correction from the $35,000 resistance. BTC could start a fresh increase unless there is a move below $32,800. Bitcoin rallied toward the $35,000 resistance before the bears appeared.
Bitcoin price trimmed yesterday’s losses and climbed above $26,500. BTC is now again facing strong resistance near the $27,400 zone. Bitcoin started a fresh decline after it dived toward the $25,500 support.
Bitcoin price is recovering and trading above $29,000. BTC is slowly moving higher and the bulls might soon aim for a move toward the $30,000 resistance. Bitcoin is attempting a recovery wave above the $28,800 resistance zone.
Bitcoin price started a fresh increase above the $29,000 resistance. BTC could rally if there is a clear move above the $30,000 resistance. Bitcoin is moving higher above the $28,800 and $29,000 resistance levels.
Bitcoin price found support near $29,200 and recovered losses. BTC must clear the $30,500 resistance to continue higher in the near term. Bitcoin started a fresh increase from the $29,200 support zone.
Bitcoin price started a consolidation phase below the $28,800 resistance. BTC is struggling and might face heavy selling interest above $28,500 and $28,800. Bitcoin is slowly moving lower and trading well below the $28,800 resistance zone.
Bitcoin price failed to clear the $28,800 resistance. BTC is correcting gains, but downsides might be limited below the $27,550 support zone. Bitcoin started a downside correction after it failed to clear the $28,800 resistance zone.
The world’s leading cryptocurrency, Bitcoin (BTC), has faced a significant resistance level of $28,600 for the past two weeks. However, despite local headwinds, Bitcoin’s natural volatility and ability to reach new local highs indicate that the resistance cluster is on the verge of breaking.
Bitcoin price is attempting a recovery wave above the $27,000 resistance. BTC could gain bullish momentum if it clears the $27,700 resistance zone. Bitcoin is slowly moving higher from the $26,500 support.
Bitcoin price trimmed all losses and climbed above $28,000. BTC must clear the $28,500 resistance zone to start a steady increase in the coming sessions. Bitcoin is moving higher above the $28,000 resistance.
Bitcoin price is attempting an upside break above the $28,500 resistance zone. BTC could rally if there is a close above the $28,500 resistance zone. Bitcoin is gaining pace above the $28,000 resistance.
Bitcoin price surged above the $28,000 resistance zone. BTC is correcting gains, but dips might be limited below the $26,200 support zone. Bitcoin is up over 20% in a few days and there was a move above the $28,000 resistance.
Bitcoin price is again gaining pace above the $25,000 resistance. BTC could rise further if it clears the $26,500 resistance zone. Bitcoin is moving higher and gaining pace above the $25,200 resistance.
Bitcoin price is attempting a recovery wave above the $22,250 resistance. BTC is rising, but it might face hurdles near the $23,000 resistance zone. Bitcoin is attempting a recovery wave above the $22,250 resistance zone.
Bitcoin price is still well below the $23,650 resistance. BTC could gain bullish momentum if it is able to clear the $24,000 resistance. Bitcoin is still struggling to make a move above the $23,600 resistance zone.
Bitcoin price started another increase above the $23,000 resistance. BTC is rising and the bulls might aim a test of the $25,000 resistance zone. Bitcoin is gaining pace above the $23,500 resistance zone.
Bitcoin price extended its increase and surged above $18,000. BTC is gaining pace and might rise towards the $19,000 resistance zone. Bitcoin extended its rise above the $17,500 and $18,000 resistance levels.
Bitcoin price is slowly moving lower from the $17,000 resistance. BTC could continue to move down towards the $16,000 support zone. Bitcoin started a fresh decline after it failed to clear the $17,000 and $17,200 resistance levels.
Bitcoin price is attempting an upside break above $16,800. BTC could start a decent increase if it clears the $16,800 and $17,000 resistance levels. Bitcoin is still facing a strong resistance near $17,000 and $17,200.
Bitcoin price is still struggling below $17,000. BTC remains at a risk of a fresh decline unless there is a clear move above the $17,200 resistance zone. Bitcoin is facing a strong resistance near $17,000 and $17,200.
Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin recovered higher above the $16,800 resistance zone.
Bitcoin price gained pace above the $17,500 resistance after the US CPI release. BTC tested the $18,000 resistance and might correct lower in the short-term. Bitcoin was able to clear the $17,450 and $17,500 resistance levels.
Bitcoin price gained pace for a fresh move above $17,000. BTC is rising and might climb higher towards the $18,000 resistance zone. Bitcoin started a fresh increase above $17,000 and $17,200 resistance levels.
Bitcoin price gained bullish momentum above the $16,500 resistance. BTC could rise further if there is a close above the $17,000 resistance. Bitcoin started a decent increase above the $16,500 and $16,650 resistance levels.
Bitcoin is consolidating near the $20,000 zone against the US Dollar. BTC could start a decent recovery wave if it clears the $20,550 resistance zone. Bitcoin is showing a few positive signs above the $20,000 resistance.
Bitcoin gained pace and cleared the $19,500 resistance against the US Dollar. BTC is now facing resistance and might correct lower to $19,500 in the short-term. Bitcoin gained pace above the $19,500 and $19,600 resistance levels.
Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels. Bitcoin is showing a few positive signs above the $20,000 support.
Bitcoin started an upside correction from the $17,600 zone against the US Dollar. BTC is now facing a strong resistance near $20,500 and $21,000. Bitcoin was able to recover losses from the $17,600 support zone.
Bitcoin gained pace above the $39,000 resistance against the US Dollar. BTC even tested $40,000 and might continue to rise in the near term. Bitcoin started a decent increase above the $38,800 and $39,000 resistance levels.
Bitcoin is struggling to clear the $38,800 resistance against the US Dollar. BTC could decline heavily if it stays below the $39,000 pivot level. Bitcoin is struggling to recover above $38,800 and $39,000 resistance levels.
MARA says the Texas wind farm has a capacity of 240 megawatts of interconnection and 114 megawatts of nameplate wind. The Bitcoin mining company will leverage the site to cut its Bitcoin mining costs.
Всего за два дня штаты Флорида, Айова и Мэриленд представили новые законопроекты об интеграции BTC в госфинансы США. Если их примут, штаты смогут инвестировать в биткоин, принимать его в качестве платежей, а также создать стратегические резервы в крипте.
BTC fell below $95k as sellers intensified pressure. As well as the sentiment, key events to watch out for this week include tariffs news, Fed chair Jerome Powells testimony and CPI data release.
По словам аналитиков, это станет катализатором для привлечения новых инвесторов в страну. Вчера, 6 февраля президент Чехии Петр Павел подписал закон, который освобождает bitcoin-холдеров от налога на прирост капитала, если актив находится в собственности более трех лет.
Законопроект о резерве биткоинов только что прошел голосование в Палате представителей и теперь направляется в Сенат. Если закон примут, Юта станет первым штатом США, который хранит часть своих финансов в BTC.
Oklahoma joins Texas, Pennsylvania, Ohio, New Hampshire and North Dakota in having Bitcoin reserve proposals. State savings accounts and pension funds will have the nod to invest in BTC if the bill passes.
Genius Group has announced a $33 million rights offering. The company will use net proceeds from the sale to buy Bitcoin. Genius Group holds $35 million in BTC and could see holdings rise to $86 million with plans for additional $20 million loan.
