Bitcoin failed to surpass the $7,000 resistance and declined below $6,500 against the US Dollar. BTC is likely to bounce back as long as it is above $6,000 and the 100 SMA (H4).
Bitcoin price is currently correcting gains from the $7,000 resistance area.
The $6,000 region and the 100 simple moving average (4-hours) are important supports.
There was a break below a major bullish trend line with support at $6,620 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is currently consolidating losses above the $6,000 and $6,100 levels.
Bitcoin is Approaching Crucial Support
This past week, bitcoin struggled to gain strength above the $6,880 and $7,000 resistance levels against the US Dollar. BTC price topped near the $6,982 level and recently started a fresh decline.
There was a break below the main $6,500 support area to start a substantial decline. Moreover, there was a break below a major bullish trend line with support at $6,620 on the 4-hours chart of the BTC/USD pair.
Bitcoin Price
The pair even declined below the $6,200 support and traded close to the $6,000 area. A new weekly low is formed near the $6,048 level and the price is currently consolidating losses. An initial resistance on the upside is near the $6,270 level since it is close to the 23.6% Fib retracement level of the recent decline from the $6,982 swing high to $6,048 low.
On the downside, there are a couple of important supports near $6,050 and $6,000. The main support for bitcoin is near the $5,950 level and the 100 simple moving average (4-hours).
If BTC fails to stay above the 100 SMA, there is a risk of a larger decline below $5,800. An immediate support is near $5,750, below which the price is likely to decline towards the $5,500 level.
Fresh Increase
The main support for bitcoin is forming near the $6,000 area and the 100 SMA. If the price stays above the 100 SMA, there are chances of a strong recovery wave above the $6,300 level.
The next resistance is near the $6,500 region (the recent breakdown support). The 50% Fib retracement level of the recent decline from the $6,982 swing high to $6,048 low is also near $6,515.
Therefore, a successful break above the $6,500 resistance area could start a fresh increase towards the $6,800 and $7,000 resistance levels.
Technical indicators
4 hours MACD – The MACD for BTC/USD is about to move back into the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently flat near the 40 level.
Major Support Level – $6,000
Major Resistance Level – $6,500
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money. origin »
As Bitcoin nears $100,000, market watchers anticipate short-term consolidation, though the asset’s uptrend is likely to continue. Bitcoin (BTC) price returning to $100,000 could prompt “short-term consolidation,” analysts warn, though the long-term outlook for the cryptocurrency remains positive. While key…
Bitcoin faces resistance at $100,000 while new investors accumulate. Will fresh demand push BTC higher, or is consolidation ahead?
The post Bitcoin Struggles to Break $100,000 as Fear and Greed Index Reflects Investor Caution appeared first on BeInCrypto.
Bitcoin has been faced with a challenging start to 2025 with a rejection at the $100,000 mark. Notably, Bitcoin has been unable to hold substantially above the $100,000 price level since it first broke through in early December, and multiple breakouts have been followed by rejections.
Bitcoin's reduced selling activity and bullish momentum position it near $100,000. Will it break resistance or face a pullback?
The post Bitcoin’s Path to $100,000: Waning Short-Term Holder Confidence Signals Reversal appeared first on BeInCrypto.
Crypto analyst Tony Severino has disclosed that Bitcoin Chicago Mercantile Exchange (CME) futures have crossed the $100,000 mark, indicating a potential increase in market sentiment and institutional interest.
Bitcoin ongoing price movement has sparked intense analysis as it continues to hover below the $100,000 mark. Despite reaching an all-time high above $108,000 last week, the cryptocurrency has struggled to maintain upward momentum ever since.
Bitcoin has plunged back under the $100,000 level during the past day as on-chain data shows the OG whales have been waking up. Bitcoin OGs Have Transferred Massive Amounts Recently In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed the trend in the 30-day cumulative spending of the 10+-year-old Bitcoin tokens. […]
The Bitcoin price has soared above $100,000 for the first time ever, sparking optimism among market participants. In line with this development, crypto analyst Xanrox has provided insights into whether more gains lie ahead for Bitcoin or whether this rally above $100,000 could be a potential bull trap.
This article is intended to explain the great moment when Bitcoin first broke the $100,000 mark in history, investigating the reasons for such a wonderful price increase, forecasts, and possible risks of the near and far futures of the major cryptocurrency.
Traders betting on Bitcoin’s surge to the $100,000 mark have been liquidated on the market prediction platform Polymarket. Bitcoin (BTC) rallied to an all-time high of $99,655 on Nov. 22, increasing the chances of breaking the $100,000 barrier to 91%,…
Haider Rafique, Global Chief Marketing Officer at OKX, has warned of heightened volatility as Bitcoin approaches the $100,000 mark. Bitcoin (BTC) rallied close to the $100,000 mark last week but fell short of breaking this psychological resistance level and had…
Defying skeptics, Bitcoin (BTC) has nearly reached the once-unimaginable $100,000 milestone after trading at $0.0009 in 2009. Just a few years ago, only the most optimistic in the industry could have envisioned Bitcoin nearing $100,000 — but now, that vision…
Spot Bitcoin exchange-traded funds (ETFs) have reached an impressive benchmark, crossing $100 billion in net assets. According to SoSoValue data, this achievement represents 5. 4% of Bitcoin’s total market value.
As Bitcoin edges toward $100,000, is this just the start of a larger bull run, or will market volatility derail the momentum for both Bitcoin and altcoins? BTC shatters records again Bitcoin (BTC) has been on a tear lately, smashing…
Bitcoin has jumped to $98,370, its highest-ever price as bulls target $100,000. The flagship cryptocurrency has rallied higher since Donald Trump’s re-election on Nov. 5 Bitcoin’s march towards $100,000 continued Thursday as the benchmark crypto asset broke past $98,000 for the first time ever.
Tom Lee, the head of research at independent financial analysis firm Fundstrat, has reiterated his optimistic outlook for the Bitcoin price, predicting that the cryptocurrency is on track to reach the $100,000 mark before the year concludes.
The current trajectory of Bitcoin (BTC) prices could push it to the $100,000 mark within the next 90 days, regardless of the results of the U. S. presidential election. Bitcoin At $100,000 By February 2025? Crypto analyst Timothy Peterson suggests that BTC’s current price movement is not substantially different from previous trends, raising questions about the “diminishing marginal returns” theory.
As Bitcoin (BTC) edges closer to the $70,000 mark, the crypto community is abuzz with predictions of a potential surge to $100,000, accompanied by a significant altcoin season. Amidst this fervor, crypto analyst Axel Bitblaze has provided an analysis on X, examining whether the necessary liquidity and catalysts are in place to propel Bitcoin to such heights.
Bitcoin's path to $100,000 hinges on favorable economic policies and growing institutional interest, with market dynamics playing a pivotal role.
The post Bitcoin’s $100,000 Target Remains Feasible appeared first on BeInCrypto.
Bitcoin (BTC) has had an incredible run since the start of 2024, attaining a fantastic all-time high of nearly $73,000. Experts predict the most for this token as they incite investors to expect its price to hit $100,000.
Bitcoin ETFs saw a significant turnaround on June 12, recording a $100. 8 million inflow. This marks a notable recovery from two consecutive days of outflows. While inflows exceeding $100 million haven’t been a rarity for spot Bitcoin ETFs, these inflows are especially significant as they come after a substantial outflow of $200.
Bitcoin traders are upbeat, confident that bulls have more legs to push prices above $72,000 and all-time highs. While the excitement about what lies ahead is primarily due to the mass inflow into spot Bitcoin exchange-traded funds (ETFs), Charles Edwards, the founder of Capriole Investments, has picked out multiple factors capping the current uptrend to $100,000.
The apex cryptocurrency remains in view, with analysts and investors fixating on price movements. Interestingly, Bitcoin at $100,000 is a hot conversation among market participants.
On-chain data suggests the $28,100 level could be the next major resistance to break for Bitcoin if history is anything to go by. Bitcoin Short-Term Holder Cost Basis Is Valued At $28,100 Currently As pointed out by an analyst in a CryptoQuant post, the BTC price has recently neared the short-term holders’ realized price.
Bitcoin (BTC) Startup Lab announced the second edition of its Bitcoin Olympics Hackathon, where innovators stand to win over $100,000. The competition will pit several contestants pitching their ideas for the Bitcoin DeFi and Ordinals movement.
Bitcoin has been a terrible investment in the past two years as the price dropped from a record high of $67,000 to the current $29,400. Despite this decline, David Rubenstein, the founder of Carlyle Group, has regrets not buying Bitcoin a decade ago when it was going for less than $100.
Standard Chartered analyst expects bitcoin to hit $100,000 in 2024. Geoff Kendrick explained his bitcoin price prediction in a research note. Bitcoin is currently down over 10% versus its high earlier this month.
Coinspeaker
Standard Chartered: Bitcoin Tipped to Hit $100,000 by 2024 End
With all the predictions, it appears that Bitcoin may truly be getting ready for a long rally.
Standard Chartered: Bitcoin Tipped to Hit $100,000 by 2024 End
Bloomberg Intelligence Analyst McGlone believes Bitcoin will reach $100,000 in 2021, with supported factors such as increased adoption, past BTC trading trends, and Bitcoin’s declining supply. “Can bitcoin reach $100,000 in 2021? Five charts show potential- Past bitcoin trading trends and the crypto’s declining supply vs.
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 (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.
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 […]
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.
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 […]
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 […]
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.
