Bitcoin Price Watch: BTC Could Correct Lower Before Fresh Upside

2018-12-20 10:00

Key Points

Bitcoin price traded above the $3,900 resistance and later corrected lower against the US Dollar. There is a short term contracting triangle formed with support at $3,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could extend the current correction towards the $3,580 support before a fresh upward move.

Bitcoin price traded further above $3,900 before correcting lower against the US Dollar. BTC might test the $3,580 support where buyers are likely to emerge.

Bitcoin Price Analysis

Yesterday, we discussed the chances of an upward move towards $4,000 in bitcoin price against the US Dollar. The BTC/USD pair did move higher and broke the $3,750, $3,800 and $3,900 resistance levels. However, there was no complete test of the $4,000 resistance and a high was formed at $3,922. Later, there was a downside correction and the price declined below $3,900 and $3,800. There was also a break below the 23.6% Fib retracement level of the recent wave from the $3,442 low to $3,922 high.

However, the decline was protected by the $3,650 level. Besides, the 50% Fib retracement level of the recent wave from the $3,442 low to $3,922 high is also protecting losses. More importantly, there is a short term contracting triangle formed with support at $3,680 on the hourly chart of the BTC/USD pair. Therefore, it seems like the price is approaching the next break either above $3,750 or below $3,680. If there is a downside break, the price may extend correction towards the key $3,580 support. On the other hand, a break above $3,750 and $3,800 might start a fresh upward move.

Looking at the chart, bitcoin price could extend the current correction towards $3,580, which is a major support. As long as there is no break below $3,580, the price is likely to climb higher again.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD moved into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI recently moved below the 50 level.

Major Support Level – $3,600

Major Resistance Level – $3,800

The post Bitcoin Price Watch: BTC Could Correct Lower Before Fresh Upside appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67769.94 (-0.61%)
Объем 24H $31.803b
Изменеия 24h: -3.51 %, 7d: -2.95 %
Cегодня L: $67620.88 - H: $69768.04
Капитализация $1335.38b Rank 1
Цена в час новости $ 4192.45 (1516.48%)

price lower fresh could bitcoin btc support

Источник: newsbtc.com

price lower → Результатов: 126


Фото:

Ethereum Price Seems Bound to Retrace to $90 or Lower

When it comes to Ethereum, the future price momentum remains in question. After hitting an all-time high of over $1,200 in 2017, the value has plummeted to the double-digit range one year later. This usually doesn’t bode well for any asset or cryptocurrency in the long run, although Ethereum might be one of the more […] The post Ethereum Price Seems Bound to Retrace to $90 or Lower appeared first on NullTX.

2018-12-18 13:20


Фото:

Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight

Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant:Figure 1: BTC-USD, 4-Hour Candles, Bear Pennant BreakoutThis is a massive bear pennant with a staggering $2,000 measured move.

2018-12-12 01:52


Фото:

New Data Shows Grayscale Fund Quietly Buying Bitcoin – Now Controls 1% of Supply

Grayscale investors and a few Ethereum whales have reportedly been accumulating more Bitcoin and Ethereum as the price is at yearly lows. Grayscale Has 1%  of Bitcoin Circulating Supply While 2018 continues to be a challenging year for cryptocurrencies, some big-money players are taking advantage of lower prices to increase their virtual currency holdings.

2018-12-5 19:00


дальше еще 77 новостей →

Партнеры Currencies.ru

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.