Bitcoin Price Watch: Can BTC/USD Hold This?

2018-7-20 11:28

Key Points Bitcoin price is consolidating below a key resistance at $7,555 against the US Dollar. There is a connecting bullish trend line forming with support at $7,390 on the hourly chart of the BTC/USD pair (data feed from Kraken). A break below $7,380 could trigger a major downward correction towards $7,100.

Bitcoin price is finding it hard to move past $7,555 and $7,575 against the US Dollar. BTC/USD must stay above $7,380 to avoid a downside reaction.

Bitcoin Price Analysis

Bitcoin price mostly traded in a range above near the $7,400 level against the US Dollar. The BTC/USD pair seems to be struggling to clear the $7,555 and $7,575 resistance levels. It already tested the 38.2% Fib retracement level of the last leg from the $6,668 low to $7,605 high. However, declines were protected and buyers stopped declines below $7,250.

At present, there is a connecting bullish trend line forming with support at $7,390 on the hourly chart of the BTC/USD pair. The pair must stay above the trend line and $7,380 support. If it fails to hold these, there could be a sharp downside reaction towards the $7,140 support. It represents the 50% Fib retracement level of the last leg from the $6,668 low to $7,605 high. Moreover, the 100 hourly simple moving average is positioned near the $7,120 level to act as a strong support.

Looking at the chart, the price is mostly consolidating, but it seems to be losing momentum above $6,400. Therefore, there is a risk of a downside break towards $7,250 and $7,140. If it succeeds in holding the trend line support, it could attempt to break the $7,555 resistance. Above this, bitcoin may well accelerate gains above the last swing high at $7,605.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is mostly flat in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI is just above the 50 level with a few bearish signs.

Major Support Level – $7,380

Major Resistance Level – $7,555

The post Bitcoin Price Watch: Can BTC/USD Hold This? appeared first on NewsBTC.

origin »

Bitcoin (BTC) на Currencies.ru

$ 80572.19 (+0.22%)
Объем 24H $31.596b
Изменеия 24h: -3.08 %, 7d: -9.56 %
Cегодня L: $79922.29 - H: $84053.85
Капитализация $1598.264b Rank 1
Цена в час новости $ 7470.74 (978.5%)

bitcoin price usd btc watch below hold

Источник: newsbtc.com

bitcoin price → Результатов: 126


The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies.   As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.

2025-2-18 15:05


Bitcoin Price Remains Bullish As Monthly Stochastic Sits Above 80, Here’s Why

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]

2025-1-15 18:30


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Are Bitcoin Whales Still Holding For Higher Profit? This On-Chain Signal Suggests So

The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]

2024-12-15 12:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.

Bitcoin Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.