TA: Bitcoin Grinds Higher, Here’s Why Dips Turned Attractive

2021-6-1 06:28

Bitcoin price started a steady increase above the $36,000 resistance against the US Dollar. BTC even broke $37,000 and it is now showing positive signs.

Bitcoin gained bullish momentum above the $35,000 and $36,000 resistance levels. The price is currently trading well above $36,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but the bulls are likely to remain active near $36,000. Bitcoin Price Gains Pace

Bitcoin formed a base above the $34,000 zone and it started a steady increase. BTC broke the $35,000 and $36,000 resistance levels to move into a positive zone.

There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low.

The price even broke the $37,000 resistance zone. However, the bears are fighting near the $38,000 level. It seems like the 61.8% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low is acting as a resistance.

Source: BTCUSD on TradingView.com

On the upside, an immediate resistance is near the $37,500 level. The first major resistance is near the $38,000 level and the recent high. A clear break above the $38,000 zone could set the pace for a larger increase. The next major resistance is near the $40,000 level. An intermediate resistance could be near the $38,800 level.

Dips Supported in BTC?

If bitcoin fails to clear the $38,000 resistance, it could correct lower. An initial support on the downside is near the $36,500 level.

The first major support is near the $36,000 level and the 100 hourly simple moving average. If there is a downside break below the $36,000 support, the price could decline towards the $35,200 support zone in the coming sessions. Any more losses could clear the path for a retest of the $34,000 level.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is sliding towards the 50 level.

Major Support Levels – $36,000, followed by $35,500.

Major Resistance Levels – $37,500, $38,000 and $40,000.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67568.79 (+0.04%)
Объем 24H $28.012b
Изменеия 24h: -0.19 %, 7d: -3.21 %
Cегодня L: $67158.36 - H: $68812.85
Капитализация $1331.448b Rank 1
Цена в час новости $ 36801.16 (83.61%)

bitcoin above resistance broke momentum levels bullish

Источник: newsbtc.com

bitcoin above → Результатов: 126


Bitcoin Floats Above $30,000, but Solana Surges 11%, What’s Next for SOL? Deep Analysis

In the dynamic world of cryptocurrency, Bitcoin continues to be a stable force. Bitcoin has been maintaining a steady course, floating above the $30,000 mark for the past six days. This stability in Bitcoin’s price, amidst the general volatility of the cryptocurrency market, is a noteworthy development and could potentially signal a period of consolidation […] The post Bitcoin Floats Above $30,000, but Solana Surges 11%, What’s Next for SOL? Deep Analysis appeared first on CaptainAltcoin.

2023-6-30 01:54


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru