Bitcoin Price (BTC) Holding Key Uptrend Support, Bounce Incoming?

2020-1-31 16:15

Bitcoin price traded to a new 2020 high at $9,569 before starting a downside correction. BTC to USD is now trading near a major support at $9,170, where the bulls are likely to take a stand.

Key Takeaways: BTC/USD Bitcoin price is currently correcting lower from well above the $9,550 level against the US Dollar. BTC/USD traded below the $9,400 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp). Ethereum is also correcting lower and it could test the $178.00 support area in the near term. Bitcoin Price Analysis

Recently, bitcoin price climbed further higher above the $9,200 and $9,420 levels. BTC to USD even spiked above the $9,500 and $9,520 levels before setting a new yearly high at $9,569.

Looking at the 2-hours chart, bitcoin failed to continue higher and started a downside correction below the $9,500 and $9,480 levels. Furthermore, there was a break below the 23.6% Fib retracement level of the upward move from $8,865 to $9,569.

More importantly, the price traded below the $9,400 support and a bullish trend line on the 2-hours chart. It opened the doors for more losses and the price tested the $9,220 support level.

It seems like there is a strong support forming near $9,215 and 50 simple moving average (2-hours, purple). The 50% Fib retracement level of the upward move from $8,865 to $9,569 is also near the $9,217 level.

Any further losses below $9,215 and $9,200 might spark a strong decline in the coming sessions. An immediate support is near the $9,030 level since it is the 76.4% Fib retracement level of the upward move from $8,865 to $9,569.

The next major support for the bulls is near the $8,940 level, below which the price could tumble towards $8,500. Conversely, bitcoin price is likely to stay above $9,215 and 50 simple moving average (2-hours, purple).

As long as the price is above the $9,215 and $9,175 levels, there are chances of a fresh bounce in the coming sessions. On the upside, hurdles are seen near the $9,400 and $9,560 levels.

Live Bitcoin (BTC) Price: 1 BTC/USD =$9,259.2312 change ~ -1.15%

Coin Market Cap

$168.44 Billion

24 Hour Volume

$7.19 Billion

24 Hour VWAP

$9.4 K

24 Hour Change

$-106.7753 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD");

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68742.73 (+0.56%)
Объем 24H $31.243b
Изменеия 24h: 0.03 %, 7d: -2.19 %
Cегодня L: $68289.6 - H: $68742.73
Капитализация $1354.559b Rank 1
Цена в час новости $ 9252.16 (642.99%)

bitcoin btc price usd key support takeaways

Источник: bitcoinexchangeguide.com

bitcoin btc → Результатов: 126


Фото:

Bitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply

On-chain data shows that the Bitcoin whales’ holdings have grown to 25. 16% of the entire supply, and their net accumulation has continued recently. Bitcoin Investors With 1,000 To 10,000 BTC Have Continued To Buy Recently According to data from the on-chain analytics firm Santiment, the BTC whales have accumulated more than 266,000 BTC since the start of the year.

2024-4-25 06:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru