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#Bitcoin Price Analysis

Bitcoin Price Analysis BTC/USD May Cross $8000 Line again, 27 July.

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Bitcoin Price Key Focuses

  • Bitcoin price declined pointedly and broke the $8,050 support level against the US Dollar.
  • There is a key bearish pattern line framed with resistance close $8,200 on the hourly chart of the BTC/USD match (information feed from Kraken).
  • The match is probably going to combine in the here and now underneath the $8,060 and $8,200 resistances.

Bitcoin price trimmed its intraday picks up against the US Dollar. BTC/USD settled underneath $8,000 and is right now exchanging a range close $7,900.

Bitcoin Price Analysis

Recently, there was a beginning of a descending move from the $8,500 swing high in bitcoin price against the US Dollar. The BTC/USD match declined and broke the $8,300 and $8,100 support levels. There was additionally a nearby underneath the $8,060 support level and the 100 hourly basic moving normal. The price even broke the $8,000 support and exchanged as low as $7,836.

Right now, the Bitcoin price is exchanging a range close to the $7,900 level. An underlying resistance is the 23.6% Lie retracement level of the last decrease from the $8,500 high to $7,836 low. The following obstacle is close to the $7,060 resistance, which was a support before. The expressed $7,060 resistance additionally matches with the 100 hourly SMA. Over this, there is a key bearish pattern line-shaped with resistance close $8,200 on the hourly chart of the BTC/USD combine. The pattern line is situated close to the half Lie retracement level of the last decrease from the $8,500 high to $7,836 low.

BTCUSD Price Chart 27 July

BTCUSD Price Chart 27 July

Taking a gander at the chart, the Bitcoin price is presently holding the $7,850 level. Ought to there be a break beneath this, the price could decay towards the $7,650 support region. Temporarily, there could be extended moves amongst $7,700 and $8,200.

Taking a gander at the specialized pointers:

Hourly MACD – The MACD for BTC/USD is going to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI is right now level close to the 30 level.

Real Support Level – $7,850

Real Resistance Level – $8,200

#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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