Bitcoin jumped above the $8,800 and $9,000 resistance levels against the US Dollar. However, BTC is facing a major hurdle at $9,100, above which it could rally sharply.
Bitcoin is currently consolidating in a broad range below the $9,000 and $9,100 levels.
The main support on the downside is forming near the $8,250 and $8,200 levels.
There is a key connecting bearish trend line forming with resistance near $9,040 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The bulls need to gain momentum above $9,000 and $9,100 for a sustained upward move.
Bitcoin Could Struggle Near $9,000 and $9,100
Yesterday, we discussed a possible push in bitcoin price towards the $9,000 resistance against the US Dollar. BTC price did surge above the $8,800 resistance and tested the $9,000 pivot zone.
There was a break above the 23.6% Fib retracement level of the key decline from the $10,080 swing high to $8,267 low. On the upside, the $9,000 zone acted as a strong resistance and prevented further gains.
Bitcoin price remained well below the 100 hourly simple moving average and topped near the $9,000 level. It even failed to test the 50% Fib retracement level of the key decline from the $10,080 swing high to $8,267 low.
More importantly, there is a key connecting bearish trend line forming with resistance near $9,040 on the hourly chart of the BTC/USD pair. It seems like there is a major hurdle forming for the bulls near the $9,000 and $9,100 levels.
Bitcoin Price
If there is an upside break above the $9,100 resistance and the trend line, there are chances of a sustained upward move. An immediate resistance is near $9,200, above which the price will most likely revisit the $9,500 resistance in the near term.
Breakdown Support
On the downside, there is a crucial support base forming near the $8,250 and $8,200 levels. If bitcoin fails to climb above $9,000, it could revisit the range support at $8,250.
To start another bearish wave, the bears need to clear the $8,250 and $8,200 support levels. The next key support is seen near the $8,000 level, below which there is a risk of a significant decline towards the $7,500 support zone.
Technical indicators:
Hourly MACD – The MACD is about to move into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently rising towards the 50 level.
Major Support Levels – $8,400 followed by $8,250.
Major Resistance Levels – $9,000, $9,100 and $9,175. origin »
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.
During an interview with CNBC on Monday, Wall Street strategist Tom Lee thinks Bitcoin (BTC/USD) still has the potential of reaching $100,000 this year, despite the market slump. I think that Bitcoin can go above $ 100,000 again despite the big correction it has gone through.
“29JAN, the monster expiry, will be the biggest expiry Deribit has seen to date!” So said the bitcoin and ethereum derivatives trading platform, further adding: “A whopping ~100,000 bitcoin contracts...
According to BitInfo Charts, which tracks the top 100 richest bitcoin addresses, the top 100 users have added almost 350,000 bitcoin to their holdings. The amount is worth about $11 billion at current prices.
Bitcoin, Ethereum, and other cryptocurrencies have undergone remarkably strong rallies over recent days and weeks.
The post Crypto VC says Bitcoin must consolidate if it is to hit $100,000 in the near future appeared first on CryptoSlate.
Bitcoin has exploded nearly 100% higher in the past six weeks, rallying from the $11,000 range to $19,200 as of this article’s writing Speaking to the Canadian news outlet Globe and Mail, the CIO of Off the Chain Capital said that he thinks Bitcoin rally 500% from here.
Bitcoin currently trades for $13,800, establishing another floor as it looks to move even higher in the days ahead. The coin is below the daily highs of $14,100, set around 16 hours ago. Analysts think that Bitcoin could rip higher once it turns the $14,000 region into support.
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.
