After a strong decline, bitcoin price found support near $7,000 against the US Dollar.
The price is now trading near the $7,300 and $7,320 resistance levels.
There is a major breakout pattern forming resistance near $7,320 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The price could dip a few points, but it is likely to find bids near the $7,180 and $7,050 levels.
Bitcoin price is trading above a few key supports against the US Dollar. BTC seems to be preparing for the next bullish break above $7,300 and $7,400.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin started a downside correction from the $7,500 resistance area against the US Dollar. BTC price traded below the $7,300 support and the 100 simple moving average (4-hours).
However, the decline was protected by the $7,000 support area. A swing low was formed near $6,922 and the price recovered sharply above $7,000. Moreover, there was a break above the 50% Fib retracement level of the downward move from the $7,431 high to $6,922 low.
Bitcoin price is now trading above the $7,200 level and 100 simple moving average (4-hours). On the upside, the $7,300 level seems to be acting as a hurdles. Besides, the 76.4% Fib retracement level of the downward move from the $7,431 high to $6,922 low is at $7,311.
More importantly, there is a major breakout pattern forming resistance near $7,320 on the 4-hours chart of the BTC/USD pair. Therefore, an upside break above $7,320 and a close above $7,400 could start a strong bullish wave.
An immediate resistance is near the $7,460 level, above which the price is likely to rally towards the $7,640 level. An intermediate resistance is near the 1.236 Fib extension level of the downward move from the $7,431 high to $6,922 low at $7,551.
Any further gains could push the price towards the $8,000 resistance area. Conversely, the price might struggle to continue above $7,320 and $7,400. In the mentioned case, the price could dip lower towards the $7,180 support.
The main triangle support is near the $7,050 level, below which the bulls are likely to struggle and the bears could take charge in the near term.
Bitcoin Price
Looking at the chart, bitcoin price is clearly trading with a positive bias above $7,180 and 100 simple moving average (4-hours). Though, a successful break above $7,320 and $7,400 is needed for a nice rally.
Technical indicators
4 hours MACD – The MACD for BTC/USD is slowly losing bullish momentum.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.
Major Support Level – $7,050
Major Resistance Level – $7,400 The post appeared first on NewsBTC. origin »
Bitcoin faced selling near $64,000, but buyers have managed to keep the price above the short-term holder realized price near $62,000, which is a positive sign.
NEAR/USDT chart and technical analysis The NEAR protocol gained 72% this week and the price broke above the previous high of 4. 77. Currently, the price is making a correction and will likely retrace back to the 4.
NEAR’s price struggles to hold above key resistance as price trends in a falling wedge price could break the downtrend. NEAR continues to struggle as price clings to resistance in a bid to reclaim the region.
Near price has been rising since February 27 and the bullish trend seems to…
The post Near Protocol price surges over 22% today: what is fuelling the uptrend? appeared first on Coin Journal.
The price action faltered after the initial risk-on with all eyes will be on the consumer price report due on Friday. The USD index is near its 17-month high and dollar long positions highest since June 2019.
Bitcoin price has been trading within a tight trading range over the past week, making a few sharp stop runs in the process to liquidate over-leveraged margin traders. One prominent crypto trader says that the stop runs are due to the complete lack of liquidity near the current Bitcoin price, and that they will continue.
Ripple price rallied recently above the $0. 2220 resistance, but failed near $0. 2265 against the US dollar. The price currently declining and it is approaching the pre-rally level near $0. 2100.
Bitcoin price formed a high near $8,348 and recently corrected lower against the US Dollar. The price is currently trading near the $8,120 level and it could test $8,050 or even $8,000. There is a short term contracting triangle forming with resistance near $8,160 on the hourly chart of the BTC/USD pair (data feed from.
Ripple price is forming a decent support base near the $0. 2300 level against the US dollar. The price is facing a lot of hurdles on the upside near $0. 2450 and $0. 2500. There is a solid bearish trend line forming with resistance near $0.
ETH price remained in a bearish zone and even tested the $180 support area against the US Dollar. The price is currently correcting higher, but it is facing hurdles near $192 and $195. There is a significant bearish trend line forming with resistance near $192 on the 4-hours chart of ETH/USD (data feed via Kraken).
Bitcoin price is currently correcting higher above the $10,000 resistance against the US Dollar. The price is facing many key resistances near the $10,250, $10,300 and $10,400 levels. There is also a connecting bearish trend line forming with resistance near $10,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).
ETH price started a short term upside correction from the $201 low against the US Dollar. Ethereum price is currently trading near the key $215 resistance area and is showing bearish signs. There is a key ascending channel forming with support near $212 on the hourly chart of ETH/USD (data feed via Kraken).
Ripple price formed support near the $0. 3610 level and recently recovered against the US dollar. The price traded towards $0. 4300 and it is currently correcting lower towards $0. 3900. There is a short term rising channel forming with support near $0.
Ripple price formed a decent support near the $0. 2915 level and climbed higher against the US dollar. The price broke the $0. 2950 resistance and it looks set to gain bullish momentum in the near term.
Ripple price managed to stay above the $0. 2850 support area against the US dollar. The price is currently facing a strong resistance near the $0. 2900 and $0. 2910 levels. There is a major bearish trend line in place with resistance near $0.
Bitcoin price rebounded above $5,100 after a massive drop towards $4,900 against the US Dollar. The price seems to be facing a strong resistance near the $5,200 and $5,220 levels. There is a major bearish trend line in place with resistance near $5,230 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Ripple price climbed sharply towards the $0. 3500 resistance before sellers appeared against the US dollar. The price formed a high near $0. 3489 and recently corrected lower sharply below $0. 3400.
Long-Term Outlook A look at the Weekly chart for XRP shows that the price is trading at $0. 32, slightly above the support line near $0. 3. The next support area can be found near $0. 15, while the closest resistance area is found near $0.
Dogecoin price spiked over 200% back in August from support near $0. 0022 to a high near $0. 007. The price move came at a point where there were mixed performances from other cryptocurrencies. A bearish divergence between price and RSI which took place after the spike catalyzed a decline which is still taking place.
Key Points Bitcoin price nosedived below the $6,150 and $5,650 support levels against the US Dollar. There is a short term contracting triangle formed with resistance at $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights ETH price declined heavily after it broke the $200 and $190 supports against the US Dollar. There is a short term contracting triangle formed with resistance at $178 on the hourly chart of ETH/USD (data feed via Kraken).
Ripple price tumbled below the $0. 4320 support against the US Dollar. XRP/USD tested $0. 4000 and later recovered, but buyers are struggling near key resistances. Key Talking Points Ripple price declined heavily below the $0.
Litecoin price collapsed and traded below the $44. 00 support against the US Dollar. LTC/USD traded close to $40. 00 and it remains in a major downtrend. Key Talking Points Litecoin price is under a lot of selling pressure below the $44.
Ripple’s XRP was forming a bullish structure with its recent price action but the market movements to start this week have led to a far more bearish outlook for the third largest cryptocurrency by market cap.
As the Bitcoin Cash fork draw near, there is a renewed interest in trading the pre-fork coins on the exchanges which support it. At this time, it seems there is a genuine interest in Bitcoin SV, whereas Bitcoin ABC is quickly losing ground.
Key Points Bitcoin price declined further and traded below the $6,275 support level against the US Dollar. There are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Today and tomorrow will be two incredibly important dates for Bitcoin Cash. The upcoming hard fork is a very controversial development which can have all kinds of side effects. So far, the Bitcoin Cash price is holding its own despite all of the controversy.
Key Points Bitcoin cash price stayed above the $496 swing low and consolidated against the US Dollar. There was a break above a key bearish trend line with resistance at $510 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Bitcoin Cash continues to hover around the Fib retracement levels while traders await the outcome of the hard fork. By the looks of it, there is still no consensus in the community as a near 50-50 split on the versions is eyed.
Key Highlights ETH price is facing a tough resistance near the $209. 00 and $210. 00 levels against the US Dollar. Yesterday’s highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken).
Key Highlights Ripple price recovered a few points, but it faced sellers near $0. 5250 against the US dollar. There is a short term bullish trend line formed with support at $0. 5050 on the hourly chart of the XRP/USD pair (data source from Kraken).
Litecoin price turned bearish below the $52. 00 support against the US Dollar. LTC/USD is currently near the $50. 00 support with a bearish angle. Key Talking Points Litecoin price failed to recover and declined towards the $50.
Key Highlights Ripple price extended slides recently, but it found support near $0. 4860 against the US dollar. There was a break above a key bearish trend line with resistance at $0. 5050 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights ETH price found a strong support near the $206 level and recovered against the US Dollar. There was a break above a connecting bearish trend line with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken).
Even with ball park +75 percent losses from 2017 highs, the altcoin market is ripe for a reversal as XLM/USD and ADA/USD reject lower lows. Meanwhile, EOS/USD and LTC/USD are near important support levels and today could determine short term price trajectory.
At press time, Ether is trading at a stable price point of $214. 06, thereby showcasing a minor value gain of around 1. 45% since yesterday afternoon. As is clear from the chart below, ETH has finally found some stability after having dipped below the $200 threshold around a week back.
Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Points Bitcoin cash price traded as high as $637 and later corrected lower against the US Dollar. There was a break below a key bullish trend line with support at $605 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Key Points Bitcoin price declined recently and traded below the $6,470 support level against the US Dollar. There is a significant bullish trend line in place with support at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights Ethereum classic price traded close to $10. 00 before correcting lower against the US dollar. There is a major bullish trend line in place with support at $9. 40 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
Litecoin price started a downside correction from the $56. 35 high against the US Dollar. LTC/USD is currently trading near important support levels near $52. 60. Key Talking Points Litecoin price formed a short-term top near $56.
A lot of people had all but forgotten about Litecoin prior to the altcoin making some serious moves earlier in 2018. Although it may take a while until LTC surpasses $250 again, the current momentum isn’t half bad either.
Key Points Bitcoin cash price rallied above the key $600 resistance against the US Dollar. There is a major bullish trend line formed with support at $580 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Key Highlights Ripple price extended gains towards $0. 5620 before started a downside correction against the US dollar. There are two bullish trend lines in place with support at $0. 5320 and $0.
Key Highlights ETH price traded higher and broke the $215 and $220 resistance levels against the US Dollar. Yesterday’s highlighted key breakout pattern was breached with resistance at $208 on the hourly chart of ETH/USD (data feed via Kraken).
Ripple’s XRP had been trading in a range for the past few weeks. Sundays rise brought the price of XRP near the top of that range but the start to this week has resulted in XRP breaking out of the range to the upside.
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.
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