Bitcoin Price Watch: BTC/USD Could Break Higher

2018-6-26 11:38

Key Points Bitcoin price traded with a positive tone and is currently below the $6,300 resistance against the US Dollar. There is a significant bearish trend line in place with resistance at $6,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to break the $6,290 and $6,300 resistance levels to gain traction in the near term.

Bitcoin price is about to make the next move against the US Dollar. BTC/USD may perhaps accelerate gains above the $6,300 resistance if buyers take control.

Bitcoin Price Analysis

The past three sessions were mostly positive as bitcoin price settled above the $5,800 and $6,000 supports against the US Dollar. The BTC/USD pair started a decent upward move from an intermediate swing low at $6,100. It moved above the 50% Fib retracement level of the last slide from the $6,754 high to $5,650 swing low. However, the price struggled to break the $6,290 and $6,300 resistance levels.

Moreover, a significant bearish trend line with resistance at $6,290 on the hourly chart of the BTC/USD pair acted as a hurdle. Additionally, the 61.8% Fib retracement level of the last slide from the $6,754 high to $5,650 swing low also stopped gains. On the positive note, the price is trading with a bullish bias above the $6,000 level and the 100 hourly simple moving average. If the price gains momentum above the $6,290 and $6,300 resistance levels, there could be more upsides towards $6,400 and $6,500.

Looking at the chart, the price is likely to break the $6,300 barrier for further upside. If not, there is a risk of a bearish reaction back towards $6,100. Below this, the price may perhaps resume its downside move below $6,000 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is mostly in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is placed nicely above the 50 level.

Major Support Level – $6,100

Major Resistance Level – $6,300

The post Bitcoin Price Watch: BTC/USD Could Break Higher appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67040.19 (-0.31%)
Объем 24H $15.989b
Изменеия 24h: 0.15 %, 7d: 9.82 %
Cегодня L: $66856.94 - H: $67251.24
Капитализация $1320.71b Rank 1
Доступно / Всего 19.7m BTC / 21m BTC

break bitcoin usd btc price pair watch

Источник: newsbtc.com

break bitcoin → Результатов: 23


Analyzing bitcoin’s break above $4200, is it a trap?

The break of the $4,200 resistance level represented a pivot point for bitcoin. Many respected analysts believe the bottom is in for BTC, while a few others predict it could sustain more losses. Whether the former or the latter is right, it’s noticeable that optimism is growing among investors as the market continues to surge—the […] The post Analyzing bitcoin’s break above $4200, is it a trap? appeared first on CryptoSlate.

2019-4-23 03:09


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.