Bitcoin (BTC) Price Watch: Back to Support Yet Again!

2018-9-25 07:34

Bitcoin Price Key Highlights

Bitcoin price has formed higher lows and lower highs to trade inside a triangle pattern on its 4-hour time frame. Price got rejected on a test of resistance once more and a move to support appears to be taking place. Technical indicators are suggesting that further declines could be in the cards.

Bitcoin price bounced off the top of its triangle consolidation pattern and is gearing up for another test of support.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, support is more likely to break than to hold. Price is currently testing the 100 SMA dynamic inflection point and might be due for further losses if it breaks below this level or the $6,250 triangle bottom.

Stochastic is also heading south so bitcoin price might follow suit while sellers have the upper hand. This oscillator is nearing oversold levels, though, so bears might be feeling exhausted soon. RSI is pointing down and has more room to fall before hitting oversold levels, so sellers could stay in control for a bit longer.

The chart pattern spans $6,000 to around $8,250 so a break lower could be followed by a drop of the same height. Similarly an upside break could lead to a rally that’s the same height as the triangle.

BTCUSD Chart from TradingView

Bitcoin price has drawn support from the SEC decision to open the comment period for the proposed rule change to list the bitcoin ETF by VanEck/SolidX on an exchange. This keeps traders’ hopes up that an approval may be in the works sooner or later as it managed to avoid a quick rejection.

Meanwhile, there appears to be no major catalyst that has spurred the sharp tumble, apart from profit-taking. Some point to the BIS report that regulation has been a driving factor for bitcoin price also.

The post Bitcoin (BTC) Price Watch: Back to Support Yet Again! appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 76553.32 (+0.22%)
Объем 24H $65.07b
Изменеия 24h: 1.15 %, 7d: 9.23 %
Cегодня L: $74544.69 - H: $76746.29
Капитализация $1514.158b Rank 1
Цена в час новости $ 6399.67 (1096.21%)

price bitcoin support again watch back yet

Источник: newsbtc.com

price bitcoin → Результатов: 126


Фото:

Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go?

The Bitcoin price is slowly breaching the $70,000 mark, showcasing steady upward momentum despite downward pressure from the bearish performance of the US equities market. Taking note of Bitcoin’s recent price movements, a crypto analyst has suggested that the pioneer cryptocurrency could be gearing up for a strong bull wave that could drive its price by over 70%, pushing it past the $100,000 milestone.

2024-10-26 04:00


Фото:

Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News

Despite initial expectations of a steady price increase and a robust bull run this year, Bitcoin (BTC) has suffered severe declines, pushing its price below the $60,000 threshold. Due to the cryptocurrency’s prolonged bearish performance, a crypto analyst has warned that Bitcoin could decline even further, predicting a potential crash below $40,000.

2024-9-4 22:30


Фото:

Michael Saylor Sets Audacious $49 Million Bitcoin Price Target – Details

The price of Bitcoin has recently returned below $68,000, as it attempts to stage a recovery following a significant price dip in the last week. While the crypto market leader attempts to find a support, popular American billionaire and Bitcoin maxi Michael Saylor has released a daring 21-year price prediction for the premier cryptocurrency.

2024-7-29 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 Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival

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 Diamond Hands Still Unbroken: 30.7% Of Supply Dormant For 5+ Years

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 […]

Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?

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.

Bitcoin Difficulty Jumps 3% As Hashrate Slowly Recovers

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 […]

Bitcoin Investors Have Turned Greedy Again: What Could Be Next For BTC?

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 […]

These Are The Biggest Bitcoin Support & Resistance Zones, Analyst Reveals

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.