Bitcoin Price Watch: BTC/USD At Risk Of More Losses Below $6,240

2018-10-30 12:28

Key Points

Bitcoin price finally made the next move and broke the $6,350 support against the US Dollar. There was a break below a major contracting triangle with support at $6,405 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded towards the $6,200 support area where buyers emerged.

Bitcoin price moved into a bearish zone below $6,350 against the US Dollar. BTC/USD remains at risk of more losses below the $6,240 and $6,200 support levels.

Bitcoin Price Analysis

After consolidating for a few days above the $6,350 support, bitcoin price finally made the next move against the US Dollar. The BTC/USD pair was rejected near the $6,435 level, which sparked a downside move. The price declined sharply and broke the $6,400 and $6,350 support levels. The decline was such that the price even settled below the $6,300 level and the 100 hourly simple moving average.

During the decline, there was a break below a major contracting triangle with support at $6,405 on the hourly chart of the BTC/USD pair. The pair traded close to the $6,200 support and formed a low at $6,201. Later, there was an upside correction above the $6,240 level. The price also moved above the 23.6% Fib retracement level of the last decline from the $6,434 high to $6,201 low. However, there are many hurdles for buyers near the $6,280 and $6,300 levels. More importantly, the 50% Fib retracement level of the last decline from the $6,434 high to $6,201 low is at $6,318.

Looking at the chart, bitcoin price is clearly trading in a bearish zone below the $6,350 support. On the downside, once sellers push the price below $6,240 and $6,200, there could be more declines.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is about to move back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is well below the 40 level.

Major Support Level – $6,240

Major Resistance Level – $6,318

The post Bitcoin Price Watch: BTC/USD At Risk Of More Losses Below $6,240 appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

CK USD (CKUSD) на Currencies.ru

$ 0.2153 (+0.52%)
Объем 24H $0
Изменеия 24h: 0.67 %, 7d: -2.33 %
Cегодня L: $0.2128 - H: $0.2153
Капитализация $0 Rank 3492
Цена в час новости $ 1.0068 (-78.62%)

price bitcoin support btc usd below 240

Источник: newsbtc.com

price bitcoin → Результатов: 126


Фото:

Bitcoin To $240,000: Analyst Cites Key Narrative As Catalyst

Bitcoin price has fallen by over 10% after briefly touching its all-time high of $69,000, propelled by investors’ flood of money into BTC Spot Exchange-Traded Funds (ETFs). However, intense volatility surrounding the crypto asset’s price has triggered a rebound to the $68,000 mark, which highlights the return of positive enthusiasm, prompting predictions of a significant rally to an unprecedented height.

2024-3-9 19:00


Bitcoin approaches its $69k all-time high price: Should you start buying BTC-related projects?

Key takeaways BTC continues to trade around $62k as it closes in on its all-time high price. Bitcoin Dogs’ presale will end in 12 days and has already raised over $6.3 million Bitcoin eyes its all-time high price of $69k The crypto market was bullish this week, adding 20% to its value in the last […] The post Bitcoin approaches its $69k all-time high price: Should you start buying BTC-related projects? appeared first on CoinJournal.

2024-3-3 00:16


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitfinex analysts predict Bitcoin surge as Dollar Index dips

Bitfinex analysts anticipate a bullish second half for Bitcoin as the Dollar Index's decline signals potential growth for the cryptocurrency. The post Bitfinex analysts predict Bitcoin surge as Dollar Index dips appeared first on Crypto Briefing.

Animoca Brands “comes to Bitcoin” with OPAL Protocol

Animoca Brands says Bitcoin is ready for Web3. The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC. BLIF, a new token of the OPAL Protocol, will power the ecosystem.

WOO unveils innovation hub focused on Bitcoin’s ecosystem

WOO plans innovation hub expansion to bolster Bitcoin’s ecosystem The new initiative will focus on projects bringing Bitcoin Layer-2s, RWA, DeFi, AI and DePIN to the Bitcoin ecosystem. WOO has announced plans aimed at using its innovation hub and the WOO token to power the next growth chapter for the Bitcoin (BTC) ecosystem.

Норвегия ужесточает контроль над дата-центрами, что вызывает опасения у майнеров биткоинов

Парламент Норвегии (Стортинг) принял новый закон о дата-центрах, который может привести к усиленному контролю над майнерами биткоинов (BTC), работающими в стране. Закон, одобренный 15. 04. 2024, направлен на снижение экологического воздействия дата-центров и продвижение использования возобновляемых источников энергии.