Bitcoin Price Watch: BTC Surges Above $6,600, Next Target $6,850

2018-9-21 11:48

Key Points

Bitcoin price is trading with a bullish angle above the $6,430 level against the US Dollar. There was a clear break above a major bearish trend line with resistance at $6,435 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair recently managed to surpass a major resistance near the $6,600 level.

Bitcoin price settled above a key pivot at $6,430 against the US Dollar. BTC/USD could accelerate towards $6,850 if buyers succeed in surpassing the $6,750 resistance.

Bitcoin Price Analysis

There was an upside extension above the $6,400 level in bitcoin price against the US Dollar. The BTC/USD pair traded above the $6,430 and $6,450 resistance levels to trade further into the bullish zone. There was even a close above the $6,500 level and the 100 hourly simple moving average. These are all positive signs above the $6,430 pivot level and the $6,400 support area.

During the upside, there was a clear break above a major bearish trend line with resistance at $6,435 on the hourly chart of the BTC/USD pair. The pair traded towards the $6.590 and $6,600 resistance levels, which prevented gains. Later, the price gained traction, surged above the $6,600 resistance, and traded as high as $6,743. It is currently consolidating gains above the 23.6% Fib retracement level of the last upward move from the $6,339 low to $6,743 high. If there is an extension, the price may perhaps test the $6,600 level. It is above the 50% Fib retracement level of the last upward move from the $6,339 low to $6,743 high. The most important support is near the $6,430 pivot level.

Looking at the chart, bitcoin price may possibly break the $6,750 resistance. The next target for buyers could be $6,850, which is also a significant resistance. On the flip side, dips towards $6,600 are likely to attract buyers.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI is placed well above the 60 level.

Major Support Level – $6,600

Major Resistance Level – $6,750

The post Bitcoin Price Watch: BTC Surges Above $6,600, Next Target $6,850 appeared first on NewsBTC.

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above btc bitcoin price pair major resistance

Источник: newsbtc.com

above btc → Результатов: 126


Why Bitcoin (BTC)’s Price Is A False Indicator Of Actual Value

Chart for BTC/USD (1W) Bitcoin (BTC) is currently trading just above $6,400. The average cost for mining one Bitcoin (BTC) lies slightly below this level between $5,800 and $6,200. This is the reason the price has managed to stay above those levels for now despite the fact that the volume is so low that a couple of million dollars could swing the price either way.

2018-9-20 17:00


Ripple (XRP) Struggles To Break Past 21 EMA Against Bitcoin (BTC), Price Likely To Remain Range Bound For Now

Ripple (XRP) is currently trading within a tight range against Bitcoin (BTC). The price broke the resistance at 45,860 satoshis earlier this month but soon afterwards, it retraced. Initially, the 45,860 satoshis resistance turned into support as the 4H chart above for XRP/BTC shows that Ripple (XRP) formed two red candles after the resistance break.

2018-9-9 22:31


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