Bitcoin price rallied recently above $7,300 before it ran into $7,500 against the US Dollar.
The price is showing positive signs it seems like the bulls aim another test of $7,500.
There is a major bullish trend line forming with support near $7,325 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is sighting an upside break above the $7,420 and $7,500 resistance levels.
Bitcoin price is gaining bullish momentum against the US Dollar. BTC is likely to accelerate higher once again as long as it is above the $7,200 level.
Bitcoin Price Analysis
After forming a strong support near the $7,120, bitcoin price started a nice upward move against the US Dollar. The price rallied above the $7,300 and $7,400 resistance levels.
Moreover, there was a close above $7,300 and the 100 hourly simple moving average. Finally, the price spiked above the $7,500 level, but it failed to continue higher.
A high was formed near $7,531 before the price declined heavily. Bitcoin trimmed most gains and declined below the $7,400 level. Additionally, the price traded towards the $7,300 level and a low is formed near $7,305.
The price is currently moving higher and trading above $7,340. Besides, it is near the 23.6% Fib retracement level of the recent decline from the $7,531 high to $7,305 low.
On the upside, there are many hurdles starting with the $7,400 level. More importantly, the 50% Fib retracement level of the recent decline from the $7,531 high to $7,305 low is near the $7,420 level to stop the upward move.
The main resistance is still near the $7,500 level, above which bitcoin price is likely to accelerate higher. In the mentioned case, the next stop for the bulls could be near the $7,680 and $7,700 levels.
Conversely, the price might continue to struggle near $7,400 and $7,420. On the downside, an initial support is near the $7,325 level. There is also a major bullish trend line forming with support near $7,325 on the hourly chart of the BTC/USD pair.
Bitcoin Price
Looking at the chart, bitcoin price is showing a lot of positive signs above the $7,300 level. Therefore, the price is likely to continue higher towards $7,500 and $7,700 unless the bears are able to push the price below the $7,200 support.
Technical indicators:
Hourly MACD – The MACD is slowly reducing its bearish slope.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level, with positive signs.
Major Support Levels – $7,325 followed by $7,200.
Major Resistance Levels – $7,400, $7,420 and $7,500. The post appeared first on NewsBTC. origin »
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Coinspeaker
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The cryptocurrency market is witnessing a tremendous selloff, with most assets losing more than 40% of their value in less than 24 hours. Bitcoin’s price is currently challenging the 2017 all-time high range of $17,500 to $20,500 and is constantly shadowing lower prices, indicating that sellers are exerting excessive pressure.
The price of Bitcoin failed to break through the $43,500 resistance zone and fell below the $42,000 mark before changing course. The world’s most valuable cryptocurrency is now exhibiting bearish characteristics and remains vulnerable to a move towards $40,500, multiple charts show.
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The Bitcoin price continues to deteriorate, dropping another $500 to $7,500 per BTC. It seems momentum from April’s rally is wearing off. Recent Bitcoin price action Beginning in April, the price of a single BTC went from $4,150 to $13,000 in less than four months.
Over the past week, Bitcoin (BTC) has finally managed to mount a comeback, rallying from the local low of $9,300 to $10,500 as of the time of writing this. However, one analyst recently pointed out that this price action only confirms the idea that the cryptocurrency market may soon undergo another retracement — one that.
Analysts Believe Bitcoin Could Drop To $1,500 Before Reaching $6,500 As the cryptocurrency market is operating positively, the community is very excited regarding the future price action of virtual currencies.
Key Points Bitcoin price is under pressure below the $3,500 and $3,520 resistance levels against the US Dollar. Yesterday’s highlighted crucial bearish trend line is intact with resistance at $3,520 on the hourly chart of the BTC/USD pair (data feed from Kraken).
SFOX, an institutional crypto trading platform, recently released a comprehensive, data-packed analysis on the possible causes of the volatility in the cryptocurrency space over the month of November.
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CoinSpeaker
Bitcoin Price Analysis: BTC/USD Trends of December 10–16, 2018
A breakout below the support level of $3,094 will further decline in Bitcoin price towards $2,261 - $1,500 price level.
Key Points Bitcoin price recovered recently and moved above the $3,500 resistance against the US Dollar. There is a key bearish trend line in place with resistance at $3,590 on the hourly chart of the BTC/USD pair (data feed from Kraken).
At press time, bitcoin is trading for a little over $3,600 according to popular exchange Bitfinex. Depending on which exchange data you look at, the father of crypto is trading for anywhere between $3,500 and $3,700, meaning bitcoin presently has a trading range of roughly $200.
If the history of Bitcoin were to repeat itself, the Bitcoin price would fall to $2,500 in January 2019 and reach a new all-time high of $333,000 in December 2021. Bobby Lee spoke on Saturday on Twitter about the ongoing bear market and drew a positive picture for the future of the crypto currency.
Key Points Bitcoin price extended losses below the $4,000 and $3,600 supports against the US Dollar. There is a significant bearish trend line formed with resistance at $3,630 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
Between August and November Bitcoin and the crypto market remained somehow stable. Bitcoin operated around $6,400 and did not experience a lot of volatility. However, November moved the whole crypto market.
Bitcoin Bloodbath Continues As Premier Currency Falls Below $3,600 Mark After gaining some positive financial momentum, over the course of the past 24 hours Bitcoin has once again fallen below the $4,000 mark (by losing over 10% within the span of a single day).
After MarketWatch got lambasted for publishing a questionable op-ed regarding a Bitcoin mining “death spiral,” the financial media continued their bearish cryptocurrency coverage on Wednesday.
BTC/USD Medium-term Trend: Bearish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,600, $3,500, $3,400 Yesterday, December 5, the price of Bitcoin was in a bearish trend. Yesterday, the digital currency was resisted by 12-day EMA and the crypto resumed its downtrend.
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Key Points Bitcoin price recovered recently and traded above the $4,000 and $4,200 levels against the US Dollar. There is a key bearish trend line formed with resistance at $4,320 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
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This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:Figure 1: BTC-USD, Daily Candles, Current Support LevelFigure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market.
After two weeks of incessant sell pressure and analysts giving up on bulls, it seems like BTC/USD sellers are exhausted. Notice that BTC is finding minor support at $3,600 or Nov 25 floors and if today close higher then we might see a temporary recovery towards $4,700.
Vinny Lingham’s Take On The Crypto Bear Market – Price Ranges Below $5,000 For 3-6 Months The cryptocurrency market is in a crisis – there is an ongoing bear market that seems relentless. Bitcoin prices have fallen from an all-time high of over $19,000 and currently, trade at about $3,500. Now Vinny Lingham, the CEO […]
Bitcoin, the largest virtual currency in the market could reach $2,500 dollars in the near future. This is what Stephen Innes, OANDA Asia Pacific Head of Trading says. During a conversation with Bloomberg on November 26, he explained that $2,500 is the target he has for Bitcoin by January 2019. During 2018, Bitcoin and other […]
Bitcoin Is A “Wild West” Show Stephen Innes, an Asia-Pacific market-focused trader at New York-based Oanda, recently sat down with Bloomberg to discuss his opinions on the crypto market at large, along with the price action of Bitcoin (BTC) in recent weeks.
Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping.
BTC/USD Medium-term Trend: Bearish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,600, $3,500, $3,400 Last week the price of Bitcoin was in a bearish trend. On November 19, the digital currency was trading above the $5,500 price level when it was resisted by the 12-day EMA and the crypto was in a downward trend. The […]
Key Points Bitcoin price fell significantly and traded below $4,000 and $3,800 against the US Dollar. There is a major bearish trend line formed with resistance at $4,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
A digital assets management platform that ICOed in 2016 has seen a 1,550% instant price rise and an equal percentage fall following their announcement that the conversion process of their...
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Following a turbulent week for the cryptocurrency markets, most major cryptocurrencies have fallen even further today, and analysts now believe that there is more room to fall for Bitcoin and Ethereum.
During the last week, Bitcoin and other virtual currencies plummeted around 30%. Furthermore, Bitcoin was traded even under $4,200 dollars a few days ago. However, the popular virtual currency seems to be stabilized between $4,500 and $4,600 dollars.
Although maximalist will advocate for self regulation like in Japan, the involvement of regulators is perhaps the only way for adoption promotion especially in this bear market. That is what CONSOB, the Italian regulator is doing while BTC/USD prices steady above $4,500.
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Since the crypto industry’s monumental rise to prominence on a planetary stage, pundits and consumers alike have sought to predict where Bitcoin (BTC), a mechanism to achieve financial freedom, is bearing.
CoinSpeaker
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At press time, the father of cryptocurrency has seemingly withered to just under $4,500. This is a major fall from its recent (and not so impressive) price of $6,300, though the market has ultimately stabilized a bit in recent days.
BTC/USD Medium-term Trend: Bearish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $4,500, $4,400, $4,300 Yesterday, November 20, the price of Bitcoin is in a bearish trend. On November 19, the crypto’s price was resisted by the 12-day EMA and price fell to the low of $4,510.
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Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.
Bitcoin (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.
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Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]
An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.
