Bitcoin price failed to continue above the $9,500 resistance and declined recently against the US Dollar. BTC could either bounce back from $9,150 or it might decline heavily.
Bitcoin bulls are fighting hard to protect the key $9,200 and $9,150 support levels against the US Dollar.
The price remains at a risk of a sharp decline if there is a break below $9,150.
There is a declining channel forming with resistance near $9,320 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The bulls need to gain momentum above $9,500 to avoid a breakdown below $9,150.
Bitcoin Testing Key Support
Yesterday, we saw a short term spike in bitcoin above the $9,500 resistance against the US Dollar. BTC even climbed above the $9,600 level and traded to a new 2020 high at $9,609.
However, the bulls failed to keep the price above the key $9,500 resistance. As a result, there was a fresh decline below the $9,400 level and the 100 hourly simple moving average.
Bitcoin price even traded below the $9,300 level and tested the $9,200 support area. A low is formed near $9,223 and the price is currently consolidating above the $9,220 and $9,200 support levels.
On the upside, an initial resistance is near the $9,320 level. Besides, the 23.3% Fib retracement level of the recent decline from the $9,609 high to $9,223 low is also near $9,320. More importantly, there is a declining channel forming with resistance near $9,320 on the hourly chart of the BTC/USD pair.
Bitcoin Price
On the downside, there is a confluence of supports forming near the $9,200 level. If bitcoin fails to stay above the $9,200 and $9,150 support levels, there is a risk of a breakdown.
In the mentioned case, the price is likely to slide below the $9,000 support area. The next major support is near the $8,800 level, where the bulls are likely to take a stand.
Chances of Upside Break?
To start a decent upward move, bitcoin must climb above $9,300 and the channel resistance. The next resistance is seen near the $9,420 level. It coincides with the 50% Fib retracement level of the recent decline from the $9,609 high to $9,223 low.
A clear break above $9,420 and a close above the 100 hourly SMA might increase the chances of upside continuation above the $9,500 and $9,600 levels in the near term.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently sliding towards the 40 level.
Major Support Levels – $9,200 followed by $9,150.
Major Resistance Levels – $9,320, $9,420 and $9,500. The post appeared first on NewsBTC. origin »
Several US states, including Texas, Pennsylvania, and Ohio, are pushing proposals to invest public funds in cryptocurrencies or establish state-level bitcoin reserves. Asset manager VanEck analysed 20 such bills and estimated that, if implemented, they could lead to $23 billion in bitcoin purchases, equivalent to approximately 242,700 BTC.
Bitcoin Cycle Indicators (IBCI) have crossed a critical point on the chart, suggesting a fall could be on the horizon.
BTC has developed strong support levels that could influence a price jump,The post Bitcoin’s next move: Why corrective dip before new highs is likely appeared first on AMBCrypto.
An analyst has explained how Bitcoin could see a top beyond the $168,500 mark based on the historical trend in this indicator. Bitcoin Mayer Multiple Could Reveal Location Of Next Price Top In a new post on X, analyst Ali Martinez has discussed where the BTC top could lie based on the Mayer Multiple.
VanEck predicts this move could diminish national liabilities by an estimated $42 trillion by 2049, assuming consistent debt growth and a significant annual appreciation in Bitcoin's value.
The post VanEck Argues That a Strategic Bitcoin Reserve Could Slash US Debt 36% by 2050 appeared first on BeInCrypto.
On-chain data shows Bitcoin could currently be following a similar pattern as in a previous cycle in terms of this indicator. Bitcoin Could Now Be Entering Phase 2 Of The Bull Run In a CryptoQuant Quicktake post, an analyst has pointed out how the recent trend in the Bitcoin long-term holder supply has been reminiscent to what was observed in the 2017 cycle.
Under such a proposal, bitcoin would be established as a strategic reserve asset and the government could buy up to 5% of the cryptocurrency's total supply, the report said.
Bitcoin (BTC) has recorded a remarkable surge in the past 14 days, nearing the $70,000 mark earlier this week. However, some market watchers shared their worries about the recent retraces, suggesting the cryptocurrency could face another correction ahead of the US Presidential election.
BTC was trading in a symmetrical triangle pattern that could trigger a major breakout to the upside.
Market sentiment also suggests room for Bitcoin to climb even higher, potentially reaching $The post Bitcoin could hit $71K soon, but THESE key conditions need to align appeared first on AMBCrypto.
Is a surge incoming for Bitcoin before the upcoming U.S. elections?
BTC could rally to $70K by the end of October.
On the 14th of October, Bitcoin [BTC] rallied 5% and retested $66K as analyThe post Why is Bitcoin going up today? This historical trend could be key appeared first on AMBCrypto.
Bitcoin could be on the path to a new all-time high if it breaks out of its reaccumulation phase this Saturday, according to an analyst. In a Sept. 14 X post, prominent trader Rekt Capital indicated that Bitcoin could soon…
Bitcoin could create a new all-time high in Q4 with a rally driven by multiple catalysts.
However, profit-taking activities might continue to stifle the short-term rally.
Bitcoin [BTC] tradeThe post Here's why Bitcoin’s ATH could be closer than you think appeared first on AMBCrypto.
Bitcoin shows signs of improving market confidence but short-term headwinds are still in play, influencing its performance.
Can Bitcoin drum up enough momentum amid signs of declining dominanceThe post Bitcoin struggles to hold $60K, but THESE factors could help appeared first on AMBCrypto.
Economic uncertainty and potential Fed rate cuts could either stabilize Bitcoin or lead to further declines, impacting investor sentiment and ETF flows.
The post Bitcoin could see deeper correction after payroll data release: Bitfinex head of derivatives appeared first on Crypto Briefing.
An analyst explained that the next target for Bitcoin could be $78,700 if BTC could cross this resistance level of an on-chain pricing model. Bitcoin MVRV Extreme Deviation Pricing Bands Put Resistance At $65,800 In a new post on X, analyst Ali has discussed some price levels for Bitcoin that could be important based on an on-chain pricing model.
Bitcoin's post-halving period could see up to two months of price stabilization, with potential fluctuations around $10,000, influenced by shifts towards altcoins and a quieter summer expected.
The post Bitcoin Price Could Remain Stagnant for 2 Months: Report appeared first on BeInCrypto.
Bitcoin holders were still profitable, which threatened more selling pressure should the market uncertainty continue.
The MVRV ratio's predicted dip could take Bitcoin prices below the key $59kThe post Bitcoin's post halving correction could pull BTC's price by 20% IF... appeared first on AMBCrypto.
In a compelling forecast for Bitcoin, Ali Martinez, a well-known cryptocurrency expert and trader, has pointed out a possible development that could propel the crypto asset’s price to the $86,000 threshold in the foreseeable future.
Key takeaways Bitcoin could be heading towards a new all-time high soon as it broke past the $52k mark for the first time since December 2021. The Bitcoin halving is only 66 days away and the market could provide numerous opportunities to investors.
The long-awaited approval of a Bitcoin exchange-traded fund (ETF) in the US could actually catalyze a correction in crypto prices rather than an immediate rally, according to analysis by Cryptonary.
As the bullish sentiment around crypto solidifies, investors are eyeing what could be the next big thing and attention is on some of the trending presale projects. Could Shiba Memu (SHMU) be worth a bet in the current market? Bitcoin taps major level amid bullish predictions Bitcoin touched $42k this week, with its yearly gains […]
The price of Bitcoin presses on towards the upside and, once again, touched a critical resistance close to $38,000. The cryptocurrency could trend sideways at its current levels in the short term, leading analysts to find the support level that could withstand a spike in selling pressure.
Former BitMEX CEO Arthur Hayes voices a concern that institutional custody, spurred by potential Bitcoin ETF approvals, could derail Bitcoin's original promise of financial freedom and decentralization, turning it into just another institutionalized asset.
Morgan Stanley, a big investment bank, has just stated that the upcoming Bitcoin (BTC) halving will likely trigger a fresh bull market in 2024. This means that the price of Bitcoin could go up significantly and so will other altcoins.
With Bitcoin ETFs round the corner, financial institutions are gearing up to promote BTC investing. The message is likely to obscure Bitcoin’s origins but could be useful for native-crypto companies, argue Dave Birnbaum and David Waugh, from Coinbits.
Bitcoin price attempted a fresh increase above the $34,500. BTC could start a major downside correction if there is a close below the 100 hourly SMA. Bitcoin is still struggling to clear the $35,000 resistance.
The flagship cryptocurrency, Bitcoin, is fast approaching $31,000 following its gains over the weekend. Analyzing this price action, crypto analyst Ali Martinez has predicted Bitcoin’s future trajectory as he suggests that the bears could regain dominance soon enough.
The Nasdaq (NDX) retreated last week, leaving behind a nasty looking candle. However, when measuring the underlying trend strength, tech stocks could have a lot more to go. And if that’s the case, it could be bullish for Bitcoin according to a new historical comparison.
An explosive upward trajectory, triggered by the Livermore trendline, could help Bitcoin reach $48,000.
While there were signs of correction, an entry point could be BTC's press time price.
Quick Take Bitcoin is hovering around $28,500 and has proven significant resistance in the past few weeks.
The post Long-term holders capitulating to the tune of 100k Bitcoin after SVB collapse could mark a stronger market rebound appeared first on CryptoSlate.
According to new data by CryptoQuant, the upcoming Bitcoin halving could trigger a relief rally for Bitcoin.
Miner revenue declined as holders sold their BTC for a loss.
Bitcoin [BTC] holderThe post The upcoming Bitcoin halving could have this effect on your holdings appeared first on AMBCrypto.
What next after Bitcoin (BTC/USD) broke below its long-term psychological level at $19,000? According to a crypto analyst who predicted the 2021 crash, Bitcoin is headed to $13,000. The pseudonymous analyst tells his 618,400 Twitter followers to expect one “last nuke” that could see altcoins also tank by 30-40%.
Bitcoin [BTC] managed to surpass the $19,000 level towards the end of October. The king coin was constrained to this level for the longest time and made several attempts to move past it. Both holders The post Could Bitcoin’s security be at risk as a result of this update? Decoding details appeared first on AMBCrypto.
Срочные новости с рынка! Инфляция в США резко замедлилась – базовый показатель упал с 3. 3% до 3. 1%, а общий – с 3% до 2. 8%. По словам аналитиков это значит одно: ФРС готовится снизить ставки.
Майкл Сейлор предложил правительству США скупить до 25% всего BTC в течение следующего десятилетия. По его мнению, с 2025 по 2035 год (когда будет добыто 99% всех BTC) американское правительство должно постепенно накапливать BTC и сформировать так называемый “стратегический биткоин-резерв”.
По данным аналитиков IntoTheBlock, объем биткоинов, находящихся у крупных держателей, упал до минимального уровня за последние 6 лет. Если говорить конкретнее, этот показатель сейчас на уровне 2019 года.
MARA says the Texas wind farm has a capacity of 240 megawatts of interconnection and 114 megawatts of nameplate wind. The Bitcoin mining company will leverage the site to cut its Bitcoin mining costs.
Всего за два дня штаты Флорида, Айова и Мэриленд представили новые законопроекты об интеграции BTC в госфинансы США. Если их примут, штаты смогут инвестировать в биткоин, принимать его в качестве платежей, а также создать стратегические резервы в крипте.
BTC fell below $95k as sellers intensified pressure. As well as the sentiment, key events to watch out for this week include tariffs news, Fed chair Jerome Powells testimony and CPI data release.
По словам аналитиков, это станет катализатором для привлечения новых инвесторов в страну. Вчера, 6 февраля президент Чехии Петр Павел подписал закон, который освобождает bitcoin-холдеров от налога на прирост капитала, если актив находится в собственности более трех лет.
