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#Bitcoin Price Analysis

Bitcoin Price Analysis BTC/USD Bulls are back, 25 July

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Bitcoin Price Key Focuses

  • Bitcoin price stretched out increases and exchanged near the $8,500 focus against the US Dollar.
  • There is a transient climbing divert set up with support at $8,300 on the hourly chart of the BTC/USD combine (information feed from Kraken).
  • The match stays in an uptrend, however, it could remedy a couple of focuses towards $8,200 in the close term.

Bitcoin price climbed advance towards $8,500 against the US Dollar. BTC/USD stays supported on plunges close to the $8,300 and $8,200 levels.

Bitcoin Price Analysis

This week, we examined about Bitcoin price exchanging higher towards the $8,500 level against the US Dollar. The BTC/USD combine moved higher and broke the $8,000 and $8,200 resistance levels. It even exchanged near the $8,500 target and shaped a high close $8,489. Right now, the price is exchanging a range beneath the $8,500 level with combination signs.

It appears as though there is a fleeting climbing divert set up with support at $8,300 on the hourly chart of the BTC/USD combine. The channel support is close to the 23.6% Lie retracement level of the last leg from the $7,602 low to $8,489 high. Beneath the channel support, the following stop could the $8,200 and $8,150 levels. All the more vitally, there is an essential bullish pattern line set up with support at $8,200. A similar pattern line is situated close to the 38.2% Lie retracement level of the last leg from the $7,602 low to $8,489 high. Subsequently, plunges from the present levels stay supported close to the $8,200 level.

BTCUSD Price Chart 25 July

BTCUSD Price Chart 25 July

Taking a gander at the chart, the price may maybe rectify bring down towards $8,200. Be that as it may, the general pattern is sure and a break over the $8,490-8,500 zone could quicken picks up. The following resistance anticipates close to the $8,650 level, above which, it could test $8,800.

Taking a gander at the specialized pointers:

Hourly MACD – The MACD for BTC/USD is gradually moving back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is as of now adjusting lower from the overbought levels.

Significant Support Level – $8,200

Significant Resistance Level – $8,500

#Bitcoin Price Analysis

BTC Daily Trading Signals: October 19

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BTC Price remains in a range-bound market. The strong bearish pressure within the range was dominant as BTC witness drawdown.

Dominant bias for Bitcoin (BTC) –Ranging

Resistance Levels- $6800, $6900, $7000

Support Level-$6000, $5900. $5800

 

BTC remains in a range-bound market. The strong bearish pressure within the range was dominant as BTC witness drawdown. Despite a bullish 4-hour opening at $6735.6 on 18th October that led to the high of the day at $6779.9, the bear takeover was confirmed by the next bearish candle. BTCUSD was down to $6609.3 in the support area.

Though $6607 was the low BTCUSD made on 17th October with the current strong bearish pressure, a lower low may be attained at the end of trading session.

 

BTC 4-hourchart

BTC 4-hour chart

 

BTC Price is below the 10 EMA but sits on the 200 EMA. A break below the 200-EMA may see the bear taking BTCUSD to the 6300 area. The stochastic oscillator is in the oversold region but its signal points down which implies further downward price movement within the range.

BTCUSD is in consolidation and trading between $6800 in the upper resistance area and at $6300 in the lower support area of the range. A breakout at the upper area will be good for a long while a breakdown at the lower area suggests shorting the cryptocurrency.

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#Bitcoin Price Analysis

BTC Daily Trading Signals: October 18

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BTC remains in consolidation. Upward movement of the cryptocurrency towards the upper resistance level was made possible by the bullish hammer at $6717.60.

Dominant bias for Bitcoin (BTC) –Ranging

Resistance Levels- $6800, $6900, $7000

Support Level-$6000, $5900. $5800

 

BTC remains in consolidation. Upward movement of the cryptocurrency towards the upper resistance level was made possible by the bullish hammer at $6717.60. BTCUSD high of the day was $6794.00 in the resistance area.  Exhaustion to bullish momentum was clearly seen as candles at the area had upper wicks. The bearish pressure was increased with inverted hammer formation. BTCUSD was down to $6674.30 in the support area as the cryptocurrency ranges

 

BTC 4-hourchart

BTC 4-hour chart

 

BTC Price remains below the 10 EMA but above the 200 EMA. The stochastic oscillator is at 23% and its signal points down which implies further downward price movement within the range. A new low at the support area may be attained with the bears’ pressure becoming much stronger

BTCUSD is in consolidation and trading between $6800 in the upper resistance area and at $6300 in the lower support area of the range. A breakout at the upper area will be good for a long while a breakdown at the lower area suggests shorting the cryptocurrency.

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#Bitcoin

Bitcoin surges more than 4% on Bitfinex after a Tether Panic

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The price of Bitcoin experienced a massive surge in minutes on Bitfinex Exchange as the price rose from $6443 to $6732 in just a couple of minutes.

After the major dumping of Tether which happened on 15th October 2018, more and more people are joining the USDT dumping trend by exchanging their stablecoins into cryptocurrencies especially Bitcoin. The traders and investors are doubting that the Tether or USDT token is not backed by US Dollar and the company is being blamed for misleading the investors.

USDT Dumping

Tether which had a market capitalization of over $2.8 Billion came down to just $2 Billion in a couple of days. So in just a couple of days investors and traders removed more than $800 Million from Tether into Bitcoin and other cryptocurrencies.

 

Bitcoin Surges on Bitfinex

The price of Bitcoin experienced a massive surge in minutes on Bitfinex Exchange as the price rose from $6443 to $6732 in just a couple of minutes as more people started to dump USDT for Bitcoin on Bitfinex.

 

Tether is being blamed for scamming investors this year by a lot of people as the people believe that Tether never had the exact amount of USD backed in 1:1 ratio in accordance to the tether supply.

 

What do you think about Tether? Let us know in the comments section below.

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