Bitcoin Is Diving But The Bulls Won’t Give Up Easily: Key Levels To Watch

2020-2-5 09:30

Bitcoin price started a downside correction from well above the $9,550 area against the US Dollar. BTC broke the key $9,220 support and it is now trading in a short term bearish zone. Bitcoin declined recently below the $9,300 and $9,200 levels against the US Dollar. The price traded close to the $9,050 level and it is currently correcting higher. There is a major bearish trend line forming with resistance near $9,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bulls need to push the price above $9,220 and $9,320 to lift the price back into a positive zone. Bitcoin Drops Below Key Support Yesterday, we discussed the chances of more downsides in bitcoin below $9,400 against the US Dollar. BTC did decline recently and traded below the key $9,220 support area. Moreover, there was a close below the $9,300 level and the 100 hourly simple moving average. Finally, the price traded close to the $9,050 support area and formed a low at $9,079. It is currently correcting higher and trading above the $9,200 level. Besides, bitcoin is testing the 23.6% Fib retracement level of the recent drop from the $9,609 high to $9,079 low. More importantly, there is a major bearish trend line forming with resistance near $9,220 on the hourly chart of the BTC/USD pair. Therefore, the pair must climb above the $9,200 and $9,220 levels. Bitcoin Price The next key resistance is near the $9,320 level and the 100 hourly simple moving average. Additionally, the 50% Fib retracement level of the recent drop from the $9,609 high to $9,079 low is near the $9,345 level. Therefore, a clear break above the $9,345 level is needed for a push towards the $9,500 and $9,600 resistance levels. The next major hurdle is still near the $10,000 level. Next Key Buy Zones On the downside, there is a decent support forming near the $9,100 area. The current price action suggests that the price might continue to slide below the $9,100 and $9,000 levels. If there is a clear break below the $9,000 handle, bitcoin price might slide further. The next major support is seen near the $8,870 and $8,800 levels, where the bulls are likely to take a strong stand. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently rising towards the 50 level. Major Support Levels – $9,100 followed by $9,000. Major Resistance Levels – $9,220, $9,320 and $9,345. The post appeared first on NewsBTC.

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Источник: newsbtc.com

bitcoin key → Результатов: 126


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Bitcoin Breaks Below Key Bullish Trendline as Analysts Eye Move to $18,400

Bitcoin has been showing some serious signs of strength throughout the past few days and weeks Bulls have been in full control of the cryptocurrency’s price action, but are starting to lose their edge over bears as the crypto drifts lower Where it trends in the mid-term will depend largely on whether or not buyers can defend against a break below $18,600 One trader is pointing to this as the first key support level it […]

2020-12-9 21:00


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Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price Bitcoin has […]

2020-5-9 21:00


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Bitcoin Expert Warns Of A Looming Drop

Yesterday, the price of Bitcoin dropped below the $6,500 mark as it fell below a key price point. According to this crypto expert, this is a sign that there is a looming drop round the corner for the crypto… Despite only a small drop, the price of Bitcoin fell below a crucial price point which is known as a ‘horizontal support’ which could very well be a sign that a significant drop is going to happen.

2018-10-4 13:00


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