Bitcoin Price Weekly Analysis: BTC/USD Bearish Below $6,000

2018-6-24 09:30

Key Points Bitcoin price is currently trading in a bearish zone below the $6,250 support against the US Dollar. There is a crucial bearish trend line formed with resistance near $6,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading below the $6,000 level and it could extend declines towards $5,600.

Bitcoin price is in a super bearish zone below $6,250 against the US Dollar. BTC/USD is currently at a risk of more losses towards the $5,600 level.

Bitcoin Price Trend

This past week, bitcoin price failed to move above the $6,700 and $6,800 resistance levels against the US Dollar. As a result, there was a downside reaction and the BTC/USD pair broke the $6,500 support. The decline got traction and the price even broke the $6,250 support zone. It pushed the price in a bearish zone below $6,250 and the 100 simple moving average (4-hours).

The price even broke the last swing low of $6,128 and formed a new monthly low. It tested the 1.236 Fib extension level of the last wave from the $6,128 low to $6,859 high. Later, there was an upside correction and the price moved above $6,100. However, the upside move was capped by the $6,250 and $6,300 resistance levels, which were supports earlier. At the moment, the price is trading with a bearish angle below $6,250. The next target for sellers could be the 1.618 Fib extension level of the last wave from the $6,128 low to $6,859 high near $5,677.

Looking at the chart, the price is currently in a bearish zone below $6,250. There are high chances that bitcoin could extend its decline below $5,800 and $5,700 in the near term. On the upside, resistances are at $6,250 and $6,500.

Looking at the technical indicators:

4-hours MACD – The MACD for BTC/USD is mostly in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI is now in the oversold zone.

Major Support Level – $5,600

Major Resistance Level – $6,250

The post Bitcoin Price Weekly Analysis: BTC/USD Bearish Below $6,000 appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67605.3 (-0.20%)
Объем 24H $26.757b
Изменеия 24h: -1.10 %, 7d: -2.55 %
Cегодня L: $67343.07 - H: $67740.79
Капитализация $1332.182b Rank 1
Доступно / Всего 19.705m BTC / 21m BTC

bearish below bitcoin usd price btc trading

Источник: newsbtc.com

bearish below → Результатов: 20


Фото:

Bitcoin is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears.

Bitcoin (BTC) is once more facing a drop to (or below) $6,000, with both short- and long-duration charts being aligned in favor of the bears. Further, while a fall to $6,000 following a bear flag breakdown on Friday seemed likely, losses were unexpectedly cut short at $6,300, signaling bearish exhaustion. Yet, the leading cryptocurrency did

2018-6-18 16:44


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Halving Woes Already Over? Bitcoin Hashrate Smashes All-Time High

On-chain data shows the Bitcoin mining hashrate has sharply rebounded from its post-Halving lows and has achieved a new all-time high (ATH). 7-Day Average Bitcoin Mining Hashrate Has Just Set A New ATH The Bitcoin network runs on a consensus mechanism known as the “proof-of-work” (PoW).

Bollinger Bands Inventor Foresees Bitcoin Pullback: Key Levels To Watch

Renowned financial analyst John Bollinger has recently issued a caution regarding the potential for a Bitcoin pullback. After BTC price surged from below $66,000 to almost $72,000 at the beginning of the week, Bollinger, the creator of the widely utilized Bollinger Bands indicator, pointed to specific features in the Bitcoin price chart that suggest a consolidation or pullback could be imminent, though he clarified that his perspective was not bearish on a longer term.

Perennial Bitcoin Accumulators Bought Big Ahead Of Rally, Data Shows

On-chain data shows that Bitcoin addresses with zero sales histories participated in a big accumulation before this recovery run started. Bitcoin Inflows To Accumulation Addresses Sharply Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, the accumulation addresses on the Bitcoin network have shown some significant inflow activity recently.

Bitcoin “Profit-Taking Has Completed,” Top Analyst Reveals

An analyst has explained how profit-taking looks to have finished for Bitcoin in what has been a “very healthy reset” for the market. Bitcoin SOPR Suggests Profit-Taking From Investors Has Cooled Off In a new post on X, analyst Willy Woo has discussed about the latest trend occurring in the Bitcoin Spent Output Profit Ratio (SOPR).

4 Key Reasons Why The Bitcoin Bull Run Is Far From Over

In an analysis shared via X, renowned crypto analyst Ted (@tedtalksmacro) has provided compelling evidence to support his assertion that the current Bitcoin bull run is far from over. Ted’s insights are based on four critical indicators related to traditional finance and crypto liquidity, each pointing to sustained growth in the near future.

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.