Bitcoin Price Watch: BTC/USD Recovery Facing Crucial Hurdle

2018-11-26 13:00

Key Points

Bitcoin price declined below $4,000 and $3,600 before buyers appeared against the US Dollar. There is a major bearish trend line in place with resistance at $4,080 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price must break the $4,000 and $4,080 resistance to climb higher in the near term.

Bitcoin price nosedived below $4,000 and $3,800 against the US Dollar. BTC/USD is currently recovering, but the $4,000 barrier is now acting as a resistance.

Bitcoin Price Analysis

During the past three days, we saw a nasty decline below $4,000 in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,800 and $3,600 support levels to post a new multi month low. The price even spiked below the $3,500 level and settled well below the 100 hourly simple moving average. A low was formed at $3,449 and later the price started an upside correction.

It moved above the $3,600 and $3,800 resistance levels. More importantly, there was a break above the 50% Fib retracement level of the recent decline from the $4,340 high to $3,449 low. However, the upside move was capped by the $4,080-4,100 zone, which was a support earlier. Moreover, there is a major bearish trend line in place with resistance at $4,080 on the hourly chart of the BTC/USD pair. The pair was also rejected near the 76.4% Fib retracement level of the recent decline from the $4,340 high to $3,449 low. Clearly, the price is facing a solid resistance near the $4,080 level and the 100 hourly SMA.

Looking at the chart, bitcoin price must break the $4,000 and $4,080 resistance to climb higher towards $4,500. If buyers fail to gain pace above $4,080 and the 100 hourly SMA, there could be a sharp decline.

Looking at the technical indicators:

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

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

Major Support Level – $3,800

Major Resistance Level – $4,080

The post Bitcoin Price Watch: BTC/USD Recovery Facing Crucial Hurdle appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67064.94 (+0.29%)
Объем 24H $27.249b
Изменеия 24h: -0.71 %, 7d: -5.66 %
Cегодня L: $66500.22 - H: $67152.86
Капитализация $1321.984b Rank 1
Цена в час новости $ 3968.03 (1590.13%)

price bitcoin usd btc 080 resistance facing

Источник: newsbtc.com

price bitcoin → Результатов: 126


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.