Bitcoin Price Watch: BTC Turned Sell On Rallies Near $3,400

2019-2-7 09:45

Bitcoin price declined further and traded towards the $3,320 support level against the US Dollar. There is a key connecting bearish trend line formed with resistance at $3,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct higher, but it is likely to face sellers near $3,375 and $3,400.

Bitcoin price extended losses below the $3,350 support against the US Dollar. BTC might attempt a recovery, but sellers are likely to defend gains above the $3,400 resistance.

Bitcoin Price Analysis

Yesterday, we saw a major decline below the $3,400 support in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,350 support and traded close to the $3,320 level. A new weekly low was formed at $3,338 and the price settled well below the 100 hourly simple moving average. Later, the price started consolidating gains and corrected above the $3,350 level. There was a break above the 23.6% Fib retracement level of the recent drop from the $3,445 swing high to $3,338 low. However, the upward move was capped by the $3,375 resistance levels.

Besides, there are many hurdles for buyers near the $3,400 and $3,420 levels. There is also a key connecting bearish trend line formed with resistance at $3,400 on the hourly chart of the BTC/USD pair. The trend line coincides with the 50% Fib retracement level of the recent drop from the $3,445 swing high to $3,338 low. Moreover, the 100 hourly simple moving average is near the trend line and the $3,410 level. Therefore, upsides from the current levels are likely to face sellers near $3,375 and $3,400.

Looking at the chart, bitcoin price is trading in a bearish zone below the $3,400 resistance. Only a daily close above $3,400 and $3,420 could open the doors for more gains. On the downside, the main support are $3,320 and $3,300.

Technical indicators

Hourly MACD – The MACD moved back in the bullish, but it may dive back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently, but it failed to move above the 50 level.

Major Support Level – $3,320

Major Resistance Level – $3,400

The post Bitcoin Price Watch: BTC Turned Sell On Rallies Near $3,400 appeared first on NewsBTC.

origin »

Bitcoin (BTC) на Currencies.ru

$ 95194.53 (-0.49%)
Объем 24H $38.514b
Изменеия 24h: -0.89 %, 7d: -0.32 %
Cегодня L: $94117.42 - H: $95764.81
Капитализация $1887.354b Rank 1
Цена в час новости $ 3420.01 (2683.46%)

price bitcoin near btc sell turned rallies

price bitcoin → Результатов: 126


Bitcoin Price Holds Above $96,000 — Analyst Explains This Level’s Significance

The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.

2025-2-9 16:00


Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do

The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.

2025-1-13 14:00


Bitcoin price analysis: economic headwinds push price lower

Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […] The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.

2025-1-11 17:48