Bitcoin Price Watch: BTC/USD Near Make-or-Break Support Zone

2018-11-8 11:28

Key Points

Bitcoin price declined recently and traded below the $6,470 support level against the US Dollar. There is a significant bullish trend line in place with support at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to bounce back as long as it is above $6,440 and $6,375 in the near term.

Bitcoin price corrected lower below $6,500 against the US Dollar. BTC/USD is currently testing a major support at $6,440, which holds the key.

Bitcoin Price Analysis

Yesterday, we saw a nice upward move above the $6,500 resistance in bitcoin price against the US Dollar. The BTC/USD pair traded as high as $6,553 and settled above the 100 hourly simple moving average. Later, the price started a downside correction and traded below $6,510 and $6,500. Moreover, there was a break below the 50% Fib retracement level of the last wave from the $6,369 low to $6,553 high.

However, the price is now trading near a major support area at $6,440. More importantly, there is a significant bullish trend line in place with support at $6,440 on the hourly chart of the BTC/USD pair. Besides, the 61.8% Fib retracement level of the last wave from the $6,369 low to $6,553 high is also near $6,440. Therefore, the price is likely to hold the $6,440 support and it could resume its upside move. An initial resistance is near $6,480, above which the price may well break the $6,500 barrier again. On the other hand, a break below the $6,440 support could push the price towards the next support at $6,375.

Looking at the chart, bitcoin price is testing a few important supports near $6,440 and it will most likely bounce back. To the topside, a break above $6,500 might put buyers back in control.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is placed heavily in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently well below the 50 level.

Major Support Level – $6,440

Major Resistance Level – $6,500

The post Bitcoin Price Watch: BTC/USD Near Make-or-Break Support Zone appeared first on NewsBTC.

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Цена в час новости $ 0.001681 (-70.85%)

support price bitcoin usd btc zone watch

Источник: newsbtc.com

support price → Результатов: 126


Solana Price Analysis & Prediction (Mar 8th) – SOL Plunges to Support, Will Price Make or Break This Lower Range?

Solana remained in a range bound following a temporal hold above two-week support. The price is still within the bulls’ radar. A sharp nosedive at this support should trigger a big down surge. By market cap, the 11th best-performing cryptocurrency seems to have found support above the $20 mark after experiencing a consistent fallout for […]

2023-3-13 10:08


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Сегодня ночью BTC обновил рекорд: $106,000 на фоне обещаний Трампа о крипторезерве

Сегодня ночью цена биткоина достигла исторического максимума в $106,352 после заявления Дональда Трампа о возможном создании стратегического Bitcoin-резерва в США. BTC за последние семь дней вырос на 5,57%, а за последние сутки — на 2,97%.

Во Франции криптовалюту обложат налогом — даже если ее не продавать

Во Франции на подходе новый налог для владельцев криптовалют. Сенатор Сильви Вермеийе предложила считать BTC «непродуктивным» активом. Стоит отметить, что налог будет относиться к нереализованной прибыли.

Биткоин пробил $100,000, но Пауэлл всё ещё скептичен

Глава ФРС США Джером Пауэлл на фоне взлета BTC до $100,000 заявил, что Биткоин — не соперник доллара, а «виртуальное золото». По его словам, криптовалюта слишком нестабильна, чтобы стать платежным средством на постоянной основе.

Куда летит Bitcoin? Аналитики ждут параболический рост

По мнению экспертов, Bitcoin вот-вот всех удивит. Так, один из известных аналитиков считает, что мы только что вошли в фазу мощного роста, которая продлится до конца 2025 года. Криптоаналитик под псевдонимом Rekt Capital заявил, что прорыв Биткоина выше $69,000 — это сигнал к началу «параболического роста».