Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700

2018-11-7 11:28

Key Points

Bitcoin price traded further higher and broke the $6,515 resistance area against the US Dollar. There was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to accelerate gains above the $6,550 and $6,600 levels in the near term.

Bitcoin price is placed nicely above the $6,480 support against the US Dollar. BTC/USD is likely to grind higher towards the $6,700 level in the near term.

Bitcoin Price Analysis

Yesterday, there was a minor downside correction in bitcoin price from the $6,480 swing high against the US Dollar. The BTC/USD pair corrected lower and tested the $6,375 support, which acted as a major buy zone. As a result, there was a fresh upward move and the price traded above the $6,440 and $6,475 resistance levels. Moreover, the price even broke the $6,500 resistance and settled above the 100 hourly simple moving average.

More importantly, there was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair. The price spiked above the $6,500 level and traded as high as $6,553. Later, there was a downside correction below the $6,540 level. Sellers pushed the price below the 23.6% Fib retracement level of the recent wave from the $6,403 swing low to $6,553 high. However, there are many buy zones on the downside near the $6,475 level. Besides, the 50% Fib retracement level of the recent wave from the $6,403 swing low to $6,553 high is also at $6,478.

Looking at the chart, bitcoin price is placed nicely above the $6,475 and $6,440 support levels. It will most likely continue to accelerate gains above the $6,550 and $6,600 levels in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is slowly reducing its bullish slope.

Hourly RSI (Relative Strength Index) – The RSI is currently well above the 50 level.

Major Support Level – $6,475

Major Resistance Level – $6,550

The post Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

CK USD (CKUSD) на Currencies.ru

$ 0.2153 (+0.52%)
Объем 24H $0
Изменеия 24h: 0.67 %, 7d: -2.33 %
Cегодня L: $0.2128 - H: $0.2153
Капитализация $0 Rank 3492
Цена в час новости $ 1.0103 (-78.69%)

price gains bitcoin btc usd above resistance

Источник: newsbtc.com

price gains → Результатов: 126


Gains Network Price Prediction 2023 – 2025 – 2030 | GNS Price Forecast

In this guide, we will voice our own and the market’s opinion on GNS future while discussing the Gains Network price forecast for 2023 and beyond. Please bear in mind that you should take this, and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the […] The post Gains Network Price Prediction 2023 – 2025 – 2030 | GNS Price Forecast appeared first on CaptainAltcoin.

2022-12-14 15:49


Gains Network Price Prediction 2022 – 2025 – 2030 | GNS Price Forecast

In this guide, we will voice our own and the market’s opinion on GNS future while discussing the Gains Network price forecast for 2022 and beyond. Please bear in mind that you should take this, and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the […] The post Gains Network Price Prediction 2022 – 2025 – 2030 | GNS Price Forecast appeared first on CaptainAltcoin.

2022-11-23 14:29


Фото:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29


Фото:

XRP Price: Bullrun Continues as Market Cap Nears Ethereum’s Valuation

The current XRP price momentum is a lot more bullish than anyone could have predicted. After a strong day of gains yesterday, the upward momentum seemingly continues without missing a beat. In fact, a 42% increase in 24 hours is very uncommon, as it is pushing the XRP market cap closer to Ethereum’s as of […] The post XRP Price: Bullrun Continues as Market Cap Nears Ethereum’s Valuation appeared first on NullTX.

2018-9-21 13:49


Litecoin, Stellar Lumens, Monero, Cardano, EOS Price Analysis: Altcoin Sellers Reinvigorated After Sep 18 Pull Backs

Sep 18 flash gains are quickly evaporating giving way for solid Sep 17 losses backed by high level of participation syncing with the dominant trend—that of sellers. That is why, it’s likely that EOS, Litecoin, Stellar Lumens, Monero and Cardano prices might drop in coming days with Cardano for example dipping below 6 cents and.

2018-9-20 03:02


Cardano, EOS, Stellar Lumens, Monero, Litecoin Price Analysis: Exchanges Ramp Up Altcoin Listings, Hints of Market Confidence

Though EOS, Cardano, Monero, Stellar Lumens and Litecoin price analysis portray positivity, we are yet to see strong gains safe those of early last week. Litecoin news of Gemini listing coupled with Abra’s addition of Cardano (ADA) are bright spots but first Cardano prices must rise above 7 cents nullifying current sells.

2018-9-17 03:02


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitfinex analysts predict Bitcoin surge as Dollar Index dips

Bitfinex analysts anticipate a bullish second half for Bitcoin as the Dollar Index's decline signals potential growth for the cryptocurrency. The post Bitfinex analysts predict Bitcoin surge as Dollar Index dips appeared first on Crypto Briefing.

Animoca Brands “comes to Bitcoin” with OPAL Protocol

Animoca Brands says Bitcoin is ready for Web3. The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC. BLIF, a new token of the OPAL Protocol, will power the ecosystem.

WOO unveils innovation hub focused on Bitcoin’s ecosystem

WOO plans innovation hub expansion to bolster Bitcoin’s ecosystem The new initiative will focus on projects bringing Bitcoin Layer-2s, RWA, DeFi, AI and DePIN to the Bitcoin ecosystem. WOO has announced plans aimed at using its innovation hub and the WOO token to power the next growth chapter for the Bitcoin (BTC) ecosystem.