Bitcoin Price Watch: BTC/USD’s Next Leg Lower Likely

2018-10-31 12:28

Key Points

Bitcoin price is currently consolidating losses above the $6,240 support against the US Dollar. There is a major bearish flag forming with resistance at $6,310 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,240 and $6,200 support levels.

Bitcoin price is under pressure below $6,300 against the US Dollar. BTC/USD is likely preparing for the next downside break below $6,202.

Bitcoin Price Analysis

Yesterday, we saw a major downside move below the $6,350 support in bitcoin price against the US Dollar. The BTC/USD pair declined heavily and broke the $6,240 support and the 100 hourly simple moving average. It traded as low as $6,202 and later started a short term correction. The price moved above the 23.6% Fib retracement level of the recent drop from the $6,433 high to $6,202 low.

However, the price struggled to move above the $6,300 resistance. More importantly, there was no test of the 50% Fib retracement level of the recent drop from the $6,433 high to $6,202 low. At the moment, there is a major bearish flag forming with resistance at $6,310 on the hourly chart of the BTC/USD pair. If the pair fails to stay above the flag support at $6,255, there could be a fresh decline towards the $6,202 low. If sellers remain in action, the price may even break the $6,202 low and trade towards the $6,150 level. On the flip side, a proper break above the flag resistance could push the price towards the $6,350 resistance and the 100 hourly SMA.

Looking at the chart, bitcoin price may continue to struggle to recover above the $6,300 and $6,350 levels. Therefore, there is a risk of more losses below the $6,240 level.

Looking at the technical indicators:

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

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

Major Support Level – $6,240

Major Resistance Level – $6,300

The post Bitcoin Price Watch: BTC/USD’s Next Leg Lower Likely appeared first on NewsBTC.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 78382.81 (-0.18%)
Объем 24H $20.526b
Изменеия 24h: 1.01 %, 7d: 5.99 %
Cегодня L: $77946.12 - H: $78703.27
Капитализация $1569.318b Rank 1
Цена в час новости $ 6421.94 (1120.55%)

price bitcoin usd btc losses 240 support

Источник: newsbtc.com

price bitcoin → Результатов: 126


Фото:

Bonk Price Prediction 2026: Pepeto Presale Fills as Bitcoin ETFs Cross $100 Billion in Assets

Bitcoin spot ETFs just crossed $100 billion in cumulative assets under management, and that milestone proves institutional capital is no longer testing the water but diving in headfirst.  While every bonk price prediction adjusts around this wave of new money, the meme coins sitting 90% below their peaks need months of sustained buying to deliver […] The post Bonk Price Prediction 2026: Pepeto Presale Fills as Bitcoin ETFs Cross $100 Billion in Assets appeared first on CaptainAltcoin.

2026-4-10 09:35


Фото:

Bitcoin Price Continues Sliding as President Trump Signals Iran Escalation, Raising Risk of Drop Toward $60,000

Bitcoin Magazine Bitcoin Price Continues Sliding as President Trump Signals Iran Escalation, Raising Risk of Drop Toward $60,000 Bitcoin price fell nearly 4% after President Trump signaled potential escalation against Iran, sparking a broad risk-off move across global markets and dragging the BTC price temporarily below $66,000.

2026-4-3 17:47


Фото:

Elliot Wave Theory Says Bitcoin Price Is Headed To $40,000, But The End Game Will Shock You

A technical analyst known as ‘V’ has shared a striking Elliott Wave Theory-based Bitcoin price outlook on X that he believes most market participants are completely overlooking. The chart, plotted on Bitcoin’s weekly timeframe, outlines a multi-year roadmap that could first subject the cryptocurrency to significant downside pressure, potentially triggering a price crash to $40,000 before setting the stage for an explosive rally that could shock investors and traders.

2026-3-4 18:00


Kaspa (KAS) Price Mirrors Bitcoin’s Early Path As Chart Points To New All Time High

Kaspa price is back in focus after a chart surfaced showing a striking resemblance between KAS price action and Bitcoin price behavior before one of its most powerful historical rallies. The visual comparison is hard to ignore, showing a long consolidation phase, gradual upward pressure, and then a sharp expansion that changed Bitcoin’s trajectory completely.

2026-1-21 17:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru