Bitcoin Analysis for 2020-01-29 [Premium Analysis]

Bitcoin Analysis for 2020-01-29 [Premium Analysis]
фото показано с : beincrypto.com

2020-1-29 13:23

The Bitcoin price has been continuing its ascent. It looks likely to soon reach the resistance area near $9,600. A breakout above this area would greatly accelerate the rate of increase and could possibly even take the price to $11,000.

Bitcoin Price Highlights The Bitcoin price is following a curved ascending support line. It may be in the fifth and final wave of an Elliott formation. There is resistance at $9,600 and $11,100. There is support at $9,100. Ascending Support

The Bitcoin price has been following a curved ascending support line since Dec 17, 2019.

The price movement closely resembles a five-wave Elliott formation, of which the price is likely in the fifth and final wave. Since the closest resistance area is found at $9,600, that would be the level in which the current wave and formation could finish.

In the short-term, the RSI has begun to show some weakness, albeit not a very significant one. The most likely move would be a continuation of the current trajectory. The price could reach the resistance area near $9,600 followed by a decrease towards $9,100, possibly validating the ascending support line once more.

As long as the ascending support line is intact, the price is expected to continue increasing.

Future Movement

The daily chart better reveals the importance of the $9,600 area, which is the previous breakdown level. In addition, the very rapid upward movement of Oct 25 and 26, 2019 failed to reach a daily close above this area.

If the price were to increase above this resistance, which is still uncertain, the rate of increase would likely accelerate and cause BTC to reach the next resistance area at $11,000 by the middle of February.

Finally, the price has clearly moved above the 200-day moving average (MA).

To conclude, the Bitcoin price has continued its increase and is aiming for $9,600. The next resistance area is found at $11,000. If the price continues following the current ascending support line, it could reach this area by the middle of February.

For those interested in BeInCrypto’s previous Bitcoin analysis, click here.

The post Bitcoin Analysis for 2020-01-29 [Premium Analysis] appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61149.79 (-0.29%)
Объем 24H $29.012b
Изменеия 24h: -2.55 %, 7d: -3.57 %
Cегодня L: $61143.86 - H: $63088.03
Капитализация $1204.545b Rank 1
Цена в час новости $ 9347.58 (554.18%)

bitcoin analysis price area above accelerate greatly

Источник: beincrypto.com

bitcoin analysis → Результатов: 126


The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022

In this episode of NewsBTC’s daily technical analysis videos, we flip the Bitcoin price chart upside down to get a unique perspective on the market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 27, 2022 We also examine a weekly buy signal on BTCUSD using the Relative Strength Index, and show several examples of the signal’s effectiveness using Bitcoin and other assets.

2022-10-28 23:13


Фото:

Bitcoin price analysis for May

The cryptocurrency market is advancing this Friday, Bitcoin is trading very close to $58000, and for now, everything indicates that the price could advance above this level very soon. Fundamental analysis: Institutional demand continues to grow significantly Bitcoin continues to enjoy the support of both developers and user communities while the fundamentals of this cryptocurrency […] The post Bitcoin price analysis for May appeared first on Invezz.

2021-5-9 20:10


Фото:

Bitcoin (BTC) price analysis for April

Bitcoin (BTC) price is still trading below the $60,000 mark as buyers take a step back to allow for consolidation to take place.  Fundamental analysis: Kevin O’Leary says he will not buy “blood” Bitcoin mined in China Canadian businessman and investor Kevin O’Leary said he will only purchase Bitcoin mined in countries that use clean […] The post Bitcoin (BTC) price analysis for April appeared first on Invezz.

2021-4-7 11:12


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin (BTC) Wallets Cross 48 Million for the First Time

Bitcoin has hit another milestone in its rocky journey towards global mainstream adoption. Surpassing 2022 figures in the process. The post Bitcoin (BTC) Wallets Cross 48 Million for the First Time appeared first on BeInCrypto.