Bitcoin Saw A Key Technical Breakdown: Here’s Why BTC Could Decline Further

2020-5-22 06:58

Bitcoin started a strong decline after it broke the key $9,500 support against the US Dollar. BTC price is currently correcting higher from the $8,794 low, but upsides are likely to remain capped. Bitcoin is down more than 5% and it broke many key supports near $9,500 and $9,150. The price is now trading well below the $9,250 pivot level and the 100 hourly simple moving average. There is a key connecting bearish trend line forming with resistance near $9,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to face a strong selling interest near the $9,220, $9,250 and $9,300 levels. Bitcoin Turns Red Bitcoin price started a strong decline after it failed to climb above $9,800 against the US Dollar. BTC price broke many supports near $9,540 and $9,500 to enter a bearish zone (as discussed yesterday). There was a sharp slide below the $9,250 and $9,150 support levels. It even dived below $9,000 and settled well below the 100 hourly simple moving average. It traded to a new weekly low at $8,794 before starting an upside correction. Bitcoin recovered above the $9,000 resistance level. It also managed to recover above the 23.6% Fib retracement level of the recent slide from the $9,842 high to $8,794 low. On the upside, there are many hurdles forming near the $9,220, $9,250 and $9,300 levels. There is also a key connecting bearish trend line forming with resistance near $9,220 on the hourly chart of the BTC/USD pair. Bitcoin Price The trend line is close to the 50% Fib retracement level of the recent slide from the $9,842 high to $8,794 low. Therefore, the price is likely to face a strong selling interest near the $9,220, $9,250 and $9,300 levels in the near term. BTC’s Bearish Extension If bitcoin fails to correct above the $9,150 and $9,250 resistance levels, it is likely to continue lower. An initial support on the downside is near the $9,000 level. A daily close below the $9,000 level might start another bearish wave. The next key support is near the $8,800 level, below which the price is likely to dive towards the $8,500 support zone. Any further losses may perhaps lead the price towards $8,200. Technical indicators: Hourly MACD – The MACD is currently in the bullish zone, but it could turn bearish again. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently recovering towards the 45 level. Major Support Levels – $9,000 followed by $8,800. Major Resistance Levels – $9,130, $9,250 and $9,300.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 70054.19 (+1.76%)
Объем 24H $42.182b
Изменеия 24h: 2.45 %, 7d: -2.64 %
Cегодня L: $66916.68 - H: $70054.19
Капитализация $1383.593b Rank 1
Цена в час новости $ 9086.53 (670.97%)

bitcoin key 500 price decline broke btc

Источник: newsbtc.com

bitcoin key → Результатов: 126


Фото:

Bitcoin Breaks Below Key Bullish Trendline as Analysts Eye Move to $18,400

Bitcoin has been showing some serious signs of strength throughout the past few days and weeks Bulls have been in full control of the cryptocurrency’s price action, but are starting to lose their edge over bears as the crypto drifts lower Where it trends in the mid-term will depend largely on whether or not buyers can defend against a break below $18,600 One trader is pointing to this as the first key support level it […]

2020-12-9 21:00


Фото:

Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price Bitcoin has […]

2020-5-9 21:00


Фото:

Bitcoin Expert Warns Of A Looming Drop

Yesterday, the price of Bitcoin dropped below the $6,500 mark as it fell below a key price point. According to this crypto expert, this is a sign that there is a looming drop round the corner for the crypto… Despite only a small drop, the price of Bitcoin fell below a crucial price point which is known as a ‘horizontal support’ which could very well be a sign that a significant drop is going to happen.

2018-10-4 13:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.