Bitcoin Price Watch: BTC’s Trend Overwhelmingly Bearish Below $3,600

2019-1-21 09:45

Bitcoin price failed to break the $3,750 resistance and declined sharply against the US Dollar. There was a break below a crucial bullish trend line with support at $3,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently recovery, but it likely to face a strong selling interest near $3,560 and $3,600.

Bitcoin price fell significantly below the $3,600 support against the US Dollar. BTC is currently trading in a downtrend and it could resume its decline if it fails to surpass $3,600.

Bitcoin Price Analysis

This past week, there was a slow and steady rise above the $3,600 level in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,700 resistance level. However, it seems like buyers failed to gain strength above the $3,750 level. As a result, there was a strong downward move and the price declined below $3,700 and $3,600. The decline was such that the price settled below the $3,600 support and the 100 hourly simple moving average.

More importantly, there was a break below a crucial bullish trend line with support at $3,620 on the hourly chart of the BTC/USD pair. Sellers pushed the price below the key $3,550 support, opening the doors for more losses. A low was formed at $3,470 and the price is currently correcting higher. It moved above the $3,520 level and the 23.6% Fib retracement level of the recent decline from the $3,729 high to $3,470 low. However, the previous support at $3,550 is now acting as a strong resistance. If there is a break above $3,550, the price could face sellers near $3,600. It represents the 50% Fib retracement level of the recent decline from the $3,729 high to $3,470 low.

Looking at the chart, bitcoin price has moved into a bearish zone below $3,600. As long as sellers remain in control below $3,600 and $3,550, there is a risk of more losses below $3,500 and $3,400.

Technical indicators

Hourly MACD – The MACD for BTC/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently recovering toward the 40 level, with a positive angle.

Major Support Level – $3,480

Major Resistance Level – $3,600

The post Bitcoin Price Watch: BTC’s Trend Overwhelmingly Bearish Below $3,600 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96818.92 (+0.03%)
Объем 24H $99.627b
Изменеия 24h: 2.27 %, 7d: 9.74 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1914.838b Rank 1
Цена в час новости $ 3585.69 (2600.15%)

price trend below btc bitcoin break watch

Источник: newsbtc.com

price trend → Результатов: 126


Фото:

Bullish Trend: Chainlink’s Top Investors are Accumulating at a Rapid Pace

Chainlink’s price action has been rather lackluster as of late, with its price lacking a clear trend as it consolidates alongside Ethereum and the rest of the crypto market. However, there’s a strong possibility that this will soon shift as Bitcoin’s ongoing uptrend will eventually lead to a capital rotation even that causes significant inflows […]

2020-11-1 04:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Hoth Therapeutics to buy up to $1 million worth of Bitcoin

Hoth Therapeutics, a publicly-traded biopharmaceutical company, has adopted Bitcoin (BTC) as a treasury asset. The clinical-stage biopharmaceutical company announced on Nov. 20 that its board of directors had approved adding BTC to its balance sheet.

Bitcoin breaks $87k; here’s what this analyst says about BTC price

Bitcoin has hit a new high above $87,000 and could bounce past $100,000 amid bullish momentum. If it happens, the bull market case is for a rally to $150k, an analyst says With Bitcoin rallying to a new all-time high above $87,000, the overall sentiment suggests it’s likely to continue higher.

Bitcoin breaks $75k as crypto celebrates Donald Trump election win

Bitcoin spiked to above $75,400, a new all-time high. This came as Donald Trump clinched the US presidency, beating Kamala Harris. Bitcoin rose to new all-time high above $75,000 as world leaders began to congratulate Donald Trump as the winner and president-elect in the 2024 US election.

Шортисты потерпели убытки на фоне рекордного роста Биткоина

Сегодня утром Bitcoin достиг $75,000 — это новый исторический максимум. Те, кто ставил на падение, потеряли почти $180 миллионов — их позиции были ликвидированы из-за новой волны спроса. Эксперт Пав Хандал из Swftyx заявил: “Сейчас весь рост подстегивается не спекуляциями, а реальными покупками — так называемым спот-рынком.

Биткоину 16 лет: первая криптовалюта в мире отмечает юбилей

Не верится, что Биткоину сегодня исполняется 16 лет! Так, 31 октября 2008 года был опубликован White Paper BTC. Этот день навсегда запечатлен в истории как момент, когда Сатоши Накамото — кем бы он ни был — создал концепцию независимой цифровой валюты.

Bhutan moves $66M to Binance, cashes in on Bitcoin’s climb above $70k

Blockchain data shows that Bhutan’s government recently transferred over $66 million in Bitcoin to Binance. Data from the blockchain analytical platform Arkham Intelligence showed that the Bhutan government-labelled address initiated three transfers out of its balance within four hours.