These 3 Simple Factors Could Erase Bitcoin’s Current Signs of Strength

These 3 Simple Factors Could Erase Bitcoin’s Current Signs of Strength
фото показано с : bitcoinist.com

2020-7-9 02:00

Bitcoin is beginning to flash some signs of strength as it starts breaking out of the recently established trading range between $9,00 and $9,300 The crypto could soon make a move to test the resistance that sits towards the top of its long-held trading range This resistance extends from $9,700 to $10,000 BTC’s tempered strength comes as altcoins begin rallying, with some even climbing as much as 100% yesterday Analysts are noting that there are a few factors that suggest Bitcoin could be in for a notable decline in the coming days Bitcoin is currently looking strong as it attempts to break above $9,300. This level has held as resistance throughout the past week, and buyers were previously unable to shatter it despite multiple tries. As buyers now navigate the crypto past this level, it may continue rising until it reaches its high time frame resistance in the upper-$9,000 region. This level has catalyzed countless rejections over the past few weeks and months. For it to be surmounted now, buyers will have to garner massive support. The ongoing altcoin market rally could help create a tailwind that leads the crypto higher. That being said, there do appear to be three factors that could stop the crypto dead in its tracks and lead it to decline further in the days ahead. Bitcoin Approaches Crucial Trendline Following Overnight Surge  At the time of writing, Bitcoin is trading up just under 1% at its current price of $9,350. Although in percentage terms it hasn’t risen by much, its ability to break above the resistance that has been formed at $9,300 is significant. Where Bitcoin trends next will likely depend on how it reacts to a crucial trendline that is rapidly approaching. One analyst spoke about this level in a recent tweet, explaining that the trendline currently exists around $9,400, meaning that BTC is on the cusp of a major breakout. “BTC Made this chart on July 6th, let’s see if the restest of support at $9200 is met by Bitcoin finally breaking above this trendline in the coming day. Make or break,” he explained. Image Courtesy of Josh Rager. Chart via TradingView. Three Factors That Could Slow BTC’s Ascent Three factors that could stop Bitcoin from seeing any type of intense upwards movement in the near-term include its recent retest of support, slight signs of rejection at the aforementioned trendline, and its MACD indicator testing a bear cross. One analyst spoke about these factors, saying: “Retesting + getting rejected from resistance + MACD testing bear cross. Don’t let the euphoria blind you, manage your risk by raising your stop losses.” Image Courtesy of Teddy. Chart via TradingView. Although these trends are essential to be aware of, Bitcoin could quickly invalidate them should it continue pushing higher throughout the day. Featured image from Shutterstock. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69532.37 (+0.29%)
Объем 24H $43.962b
Изменеия 24h: 1.72 %, 7d: -3.27 %
Cегодня L: $66916.68 - H: $70054.19
Капитализация $1376.412b Rank 1
Цена в час новости $ 9388.8 (640.59%)

strength bitcoin trading range resistance could signs

Источник: bitcoinist.com

strength bitcoin → Результатов: 126


Фото:

Bitcoin Price Analysis: Wait and See Where Recent Signs of Strength Lead

This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:Figure 1: BTC-USD, Daily Candles, Current Support LevelFigure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market.

2018-11-30 01:45


Monero Community Praises Bitcoin’s Brainpower Strength and Sees Adoption as Strong 10 Years In

Amid a bear market that is affecting the whole cryptocurrency market, Riccardo Spagni, Monero’s leader and developer, showed that he is very positive about Bitcoin (BTC) and its future. During a conversation on the Magical Crypto Friends show, he said that there is an increased criticism being made to the Bitcoin community. At the same […]

2018-11-19 18:32


Why Analysts See Bitcoin Breaking Out of the $8,800 Resistance Level Very Soon

Crypto analysts and investors have established the $8,800 resistance level as a short-term target for Bitcoin, based on the optimistic technical indicators of the dominant cryptocurrency. Bitcoin Rally Ahead? Most of the predictions on the short-term rally of Bitcoin originated from data provided by RIG trend lines — an indicator that combines the Relative Strength.

2018-9-28 09:00


Фото:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29


Фото:

‘No Reason to Not Allow’ the Bitcoin ETF to Go Ahead — Says SEC Commissioner

SEC Commissioner Hester Peirce explained why she is pro-Bitcoin ETF and why the Commission rejected the Winklevoss’ Twins latest rule change application. ‘I’m a Big Fan of Innovation’ In an interview with CNBC’s Cryptotrader host, Ran Neuner, SEC Commissioner Hester Peirce explained that she is currently one of four commissioners responsible for the fate of the Bitcoin ETF (though there are typically five when Commission is at full strength).

2018-8-2 14:00


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.