Bitcoin Price Watch: BTC/USD Slowly Grinding Higher Towards $6,700

2018-8-24 11:00

Key Points Bitcoin price is forming a support base above the $6,350 and is currently moving higher against the US Dollar. There is a short-term contracting triangle forming with resistance near $6,610 level on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $6,420 and $6,350 support levels to move higher.

Bitcoin price is gaining pace above the $6,400 level against the US Dollar. BTC/USD is likely to rise in the near term above the $6,620 level.

Bitcoin Price Analysis

Yesterday, we discussed a decent support formation near the $6,220 level in bitcoin price against the US Dollar. There was a double bottom pattern formed near the $6,220 level from where the BTC/USD pair climbed higher. The price moved above the $6,550 level and the 100 hourly simple moving average. Moreover, there was a close above the 38.2% Fib retracement level of the last drop from the $6,925 swing high to $6,210 swing low.

There was a slow and steady rise above the $6,350 and $6,420 level. However, the recent rise faced sellers near the $6,570 level. Furthermore, the 50% Fib retracement level of the last drop from the $6,925 swing high to $6,210 swing low. Additionally, there is a short-term contracting triangle forming with resistance near $6,610 level on the hourly chart of the BTC/USD pair. A break above the triangle resistance near $6,610 level is needed for more gains in the near term. Above this, the price may perhaps rise above the $6,700 level.

Looking at the chart, if bitcoin corrects lower, the $6,420 level is a decent support. Below this, the next major support is near the $6,350 level. Only a close below the $6,220 level is likely to increase more bearish pressures in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is moving slowly in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI is well above the 50 level.

Major Support Level – $6,350

Major Resistance Level – $6,610

The post Bitcoin Price Watch: BTC/USD Slowly Grinding Higher Towards $6,700 appeared first on NewsBTC.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 64108.33 (+0.10%)
Объем 24H $19.277b
Изменеия 24h: -0.27 %, 7d: 2.16 %
Cегодня L: $63648.58 - H: $64341.55
Капитализация $1285.719b Rank 1
Цена в час новости $ 6679.75 (859.74%)

bitcoin higher usd price btc support pair

Источник: newsbtc.com

bitcoin higher → Результатов: 126


'A higher probability scenario that will lead to success for the Bitcoin uptrend is...'

Just a couple of days back, Bitcoin crawled up to the $40k price level and managed to stir recovery hopes. However, at the time of writing, the world's largest crypto had fallen by 2.3% in 24 hours anThe post 'A higher probability scenario that will lead to success for the Bitcoin uptrend is...' appeared first on AMBCrypto.

2021-6-18 16:00


Bitcoin On-Chain Momentum Bullish Again, Traders May Push Prices Higher

While some analysts are still expecting Bitcoin (BTC) to fall further, it appears that fundamentals and on-chain metrics are starting to imply bulls have the upper hand. Related Reading: Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky Bitcoin Preparing to Head Higher Ahead of Halving Adaptive Capital partner Willy Woo.

2019-12-8 01:29


Bullish Outlook For Bitcoin [BTC] Price Coming Into Next Week – Bull Flag and Uptrend in the Mix

Friday recorded a relatively strong drop as the price was rejected from levels above the 100EMA but this weekend has recovered almost all of Friday’s decline and looks set for a move higher. Since the 10% gain from this week as reported here, the price has mainly been trading in a range from about the […] Bullish Outlook For Bitcoin [BTC] Price Coming Into Next Week – Bull Flag and Uptrend in the Mix was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-22 17:40


Фото:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Фото:

Market Leaders Call For Bitcoin To Move Higher, Including Staunch Bitcoin Bear

The cryptocurrency market has been in a rough state since the start of 2018, but the sentiment held by industry leaders, analysts, and experts indicate that Bitcoin is ready to move upwards. Resolute Bitcoin Bear Says Bitcoin Could Move To $8,000 Over the past week, Bitcoin has seen a stellar week, moving from a low […] The post Market Leaders Call For Bitcoin To Move Higher, Including Staunch Bitcoin Bear appeared first on Ethereum World News.

2018-7-19 22:17


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Eric Trump Has A Bitcoin Strategy That Could Make Michael Saylor Sweat

Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin, has laid out an aggressive Bitcoin accumulation framework that positions the Trump-backed company as a direct challenger to Strategy — Michael Saylor’s industry-defining Bitcoin treasury firm — through a combination of in-house mining, disciplined treasury retention, and what ABTC describes as a “mining to treasury” […]

BNY Partners with Key Companies to Expand Crypto Custody in the UAE

BNY, the world’s largest custodian bank overseeing $59.4 trillion in assets, has announced a strategic collaboration with Finstreet Limited and ADI Foundation to build regulated, institutional-grade digital asset custody infrastructure anchored in the Abu Dhabi Global Market (ADGM) — marking the first time a US global systemically important bank has brought crypto custody to the […]

Bitcoin ETFs Hold Billions as BTC Slips Below $70K, Analysts Warn of Potential Free Fall

Bitcoin’s (BTC) struggle to hold key price levels is raising fresh concerns across crypto markets, even as spot exchange-traded funds continue to control tens of billions of dollars in assets. Related Reading: Bitcoin May Gain If AI Job Losses Trigger Bank Stress, Hayes Says The largest cryptocurrency has fallen back below the psychologically important $70,000 mark, trading around $68,000 after weeks of steady selling pressure and weakening momentum.