Bitcoin Starts Vertical Rally To $11.5K and $12K: Uptrend Isn’t Over Yet

2020-2-9 08:28

Bitcoin gained traction and recently climbed above the $10,000 mark against the US Dollar. BTC price is now in a strong uptrend and it could soon test $11,560 or $12,100. Bitcoin price is showing a lot of positive signs above the $9,500 resistance area. The bulls were able to push the price above $10,000, opening the doors for a larger rally. There was a break above a crucial bearish trend line with resistance near $9,000 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher towards the $11,000, $11,560 and $12,100 levels in the near term. Bitcoin Price Could Soon Test $11,500 This month, bitcoin started a strong upward move above the $9,000 resistance area. Earlier, BTC was able to settle nicely above the $8,800 pivot level and the 100-day simple moving average. It cleared the path for more gains above the $9,200 and $9,250 resistance levels. More importantly, the bulls were able to push the price the main $9,500-$9,600 resistance area. During the rise, there was a break above a crucial bearish trend line with resistance near $9,000 on the daily chart of the BTC/USD pair. Bitcoin even surpassed the 76.4% Fib retracement level of the last key decline from the $10,579 high to $6,423 low. Bitcoin Price The price is now showing a lot of positive signs and it recently climbed above the $10,000 level. The next resistance is seen near the $10,579 swing high. However, the first key resistance for the bulls may perhaps be near the $11,560 level. It represents the 1.236 Fib extension level of the last key decline from the $10,579 high to $6,423 low. Any further gains could lead the price towards the $12,100 resistance level. The main target for the current wave could be near $13,000 since it is close to the 1.618 Fib extension level of the last key decline from the $10,579 high to $6,423 low. Downside Correction in BTC? The recent break above $9,500 and $10,000 was significant. It has opened the doors for a larger rally towards $11,500 and $12,000. Therefore, the chances of a downside correction are very less. An initial support is near the $9,600 area (the recent breakout zone). Any further losses may lead bitcoin price towards the $9,000 support area. Technical indicators: Daily MACD – The MACD is slowly gaining momentum in the bullish zone. Daily RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 65 level. Major Support Levels – $9,600 followed by $9,000. Major Resistance Levels – $11,560, $12,100 and $13,000. The post appeared first on NewsBTC.

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bitcoin uptrend price above could soon test

Источник: newsbtc.com

bitcoin uptrend → Результатов: 126


Key data shows Bitcoin uptrend is at risk as Bitfinex longs suddenly plunge

Bitcoin has rocketed to a 30-day high after posting one of its largest intraday rallies in weeks, but closer inspection suggests the sudden breakout may not mark the start of an uptrend. The rally, which began around 9 pm UTC Monday, injected more than $4 billion into market capitalization over five hours and took BTC […] The post Key data shows Bitcoin uptrend is at risk as Bitfinex longs suddenly plunge appeared first on CryptoSlate.

2020-1-7 08:30


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Bitcoin Maintains Uptrend as Key Indicator Shows a Big Move is Imminent

Bitcoin price bulls are working to maintain the daily uptrend and volume falters over the holiday weekend. Meanwhile, the long-to-shorts ratio has reached a decisive moment. Is a Bitcoin breakout imminent? Bitcoin Price: Market Overview Over the weekend Bitcoin price lost the hourly and 4-hour uptrend as it slipped below the 26ema and closed in on the $5,200 support.

2019-4-22 09:30


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Bitcoin Price Dips Slightly but Uptrend Remains Intact

It becomes increasingly unlikely this Sunday will end on a high note for the top cryptocurrency markets. The culprit is not hard to find, as Bitcoin’s dip drags everything down with it. This drop below $5,300 is not entirely surprising over the course of the weekend, albeit it remains to be seen when the Bitcoin […] The post Bitcoin Price Dips Slightly but Uptrend Remains Intact appeared first on NullTX.

2019-4-21 21:31


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Is Bitcoin Price Action Repeating Itself? Real or Fakeout?

For the last 14 months, the crypto market has been getting decimated with little signs positivity. However, that vibe has recently changed, the question is, will it continue on its current uptrend or is this just a momentary bull trap that’s attempting to suck investors in? What the market feels like right now is very […] The post Is Bitcoin Price Action Repeating Itself? Real or Fakeout? appeared first on NullTX.

2019-4-19 23:55


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