Bitcoin Buyers Lose Control, But 2 Key Technicals Show One Last Rally is Imminent

2020-4-28 06:28

Bitcoin is struggling to surpass the $7,800 resistance area against the US Dollar. It seems like BTC price could dip towards $7,600 or $7,400 before a fresh rally towards $8,000. Bitcoin made two attempts to clear the $7,800 hurdle against the US Dollar, but it failed. The price is showing a few bearish signs and it could correct towards $7,600 or $7,400. It is testing a major bullish trend line with support near $7,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct a few points, but a run towards the $8,000 resistance is still on the cards. Bitcoin Losing Bullish Momentum In the past two sessions, bitcoin made two attempts to clear the $7,800 hurdle against the US Dollar. However, BTC price seems to be losing bullish momentum above $7,700 and it could correct lower in the near term. The recent high was formed near $7,796 and the price is currently moving lower. It declined below the 23.6% Fib retracement level of the upward move from the $7,485 swing low to $7,796 high. Bitcoin price is now testing a major bullish trend line with support near $7,700 on the hourly chart of the BTC/USD pair. If there is a successful close below the trend line support and $7,700, there is a risk of more downsides. Bitcoin Price The next support is near the $7,640 level. It represents the 50% Fib retracement level of the upward move from the $7,485 swing low to $7,796 high. The main support is near the $7,600 level and the 100 hourly simple moving average. If the bulls fail to protect the $7,600 support area (the recent breakout zone), there could be an extended decline. In the mentioned case, the price is likely to continue lower towards the next major support at $7,400. Upside Thrust To $8,000? In the near term, an upside thrust towards the $8,000 level is possible. If bitcoin price stays above the $7,600 support or the $7,400 uptrend pivot, there are chances of a run towards the $8,000 level. Any further gains are likely to be limited, considering a major near the $8,000 level (as discussed in one of the previous analyses using the daily chart). Technical indicators: Hourly MACD – The MACD is now moving in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining and it is just below the 50 level. Major Support Levels – $7,600 followed by $7,400. Major Resistance Levels – $7,800, $8,000 and $8,080.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66922.99 (+0.13%)
Объем 24H $23.097b
Изменеия 24h: -0.17 %, 7d: 6.10 %
Cегодня L: $66031.14 - H: $67143.86
Капитализация $1318.437b Rank 1
Цена в час новости $ 7733.09 (765.41%)

bitcoin against dollar towards price rally made

Источник: newsbtc.com

bitcoin against → Результатов: 126


Фото:

Bitcoin maximalists blast Ethereum’s Vitalik Buterin after he cautioned against buying crypto with personal loans

Ethereum’s founder Vitalik Buterin has recently advised against a crypto-investment style that recently went viral on crypto-twitter. Peter McCormack, a Bitcoiner who loaned $46,250 to purchase Bitcoin was a subject for discussion among crypto-twitter, who were largely displeased with the Bitcoiner’s investment choices.

2020-12-17 22:56


Here are the two major reasons Ethereum dropped 50% against Bitcoin in the past 7 months

Since May 2019, the price of Ethereum has dropped by around 50 percent against Bitcoin. The ETHBTC pair across major exchanges declined from 0.0347 BTC to 0.01762 BTC within seven months. Behind the lackluster performance of Ethereum against Bitcoin since 2019 are: a correction in the crypto market in the latter half of last year […] The post Here are the two major reasons Ethereum dropped 50% against Bitcoin in the past 7 months appeared first on CryptoSlate.

2020-1-8 13:42


Фото:

Poland Bitcoin Community Files Complaint Against Bank Account ‘Denials’

Poland’s cryptocurrency industry lobby group the Polish Bitcoin Association (PBA) confirmed it has complained to regulators about banks’ denial of services to businesses June 27. Banks ‘Aim To Remove Virtual Currency’ In a statement sent to the Office of Competition and Consumer Protection (OCCP), the PBA cites financial institutions closing and denying bank accounts as proof they “clearly aim at removing virtual currency entities from the market.

2018-6-30 07:00


Фото:

U.K. Banks Warned to Be Careful With Cryptocurrencies

The Bank of England has warned U. K. lenders to study cryptocurrencies before doing business in the space. In a letter sent out to the financial institutions in the country yesterday, the Bank of England Deputy Governor Sam Woods warned financial companies to take appropriate steps to protect themselves against "exposure to crypto-assets" which he believes are susceptible to "fraud and manipulation, as well as money-laundering and terrorist financing risks.

2018-6-29 18:17


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price.

Bitcoin Hash Ribbons Form Capitulation Signal: What It Means

On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed.

Bitcoin Deja Vu: Indicator Mirrors Pattern That Led To 2021 Top

On-chain data suggests a Bitcoin indicator is currently mirroring the same trend that led to the top of the bull run in 2021. Bitcoin Long-Term Holder Distribution Appears To Be Ending As explained by CryptoQuant community manager Maartunn in a post on X, the BTC long-term holders are currently showcasing a trend that’s reminiscent of […]

Bitcoin HODLer Profit-Taking Calms Down After Wild Selling Spree: Green Sign For Rally?

On-chain data shows the Bitcoin long-term holders have finally cooled off their profit-taking after showing a wild selloff just earlier. Bitcoin Coin Days Destroyed Has Calmed Down For BTC Recently As pointed out by BTC on-chain research account “The Bitcoin Researcher” in a post on X, the Coin Days Destroyed In Profit metric has declined […]

Bitcoin Supply Shock: Exchange Inflow Trend Lowest Since 2015

On-chain data shows the Bitcoin exchange inflow trend has been at its lowest in almost a decade recently, a sign that may be bullish for the asset. Bitcoin Exchange Inflows Have Been On The Decline Recently As pointed out by CryptoQuant author Axel Adler Jr in a post on X, the BTC exchange inflows have […]

Bitcoin To Reach Escape Velocity? Analyst Makes The Case

An analyst has explained how Bitcoin seems to be showing a good setup to reach escape velocity based on the trend in this indicator. Bitcoin VWAP Oscillator Has Been Showing A Bullish Divergence As explained by analyst Willy Woo in a new post on X, a bullish divergence has appeared to be forming in the Volume-Weighted Average Price (VWAP) oscillator of the cryptocurrency.