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#Bitcoin Price Analysis

Bitcoin Price Technical Analysis: BTC/USD Bulls trying hard!

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Bitcoin price has pulled once more from its rally and could be because of resume the uptrend if the 38.2% Lie holds as support.

Bitcoin Price Key Technical Features

  • Bitcoin price is still in revision mode, however, has all the earmarks of being discovering support at the closest Lie.
  • A skip from current levels could take it back up to the swing high and past.
  • A move lower, then again, could show that a more profound pullback from the uptrend is all together.

Bitcoin price has pulled once more from its rally and could be because of resume the uptrend if the 38.2% Lie holds as support.

Specialized Pointers Signs

The 100 SMA is still over the more drawn out term 200 SMA to flag that the easiest course of action is to the upside. This implies the uptrend will probably continue than to turn around. In any case, the 100 SMA has all the earmarks of being abandoning its climb and is narrowing the hole between the 200 SMA. This could be demonstrative of moderating bullish energy.

Until further notice, bitcoin price seems, by all accounts, to be discovering support at the 38.2% Lie yet presently can’t seem to indicate more bullish footing on the ricochet. A bigger pullback might be all together, potentially until the point when the rising pattern line associating the most recent lows and the 200 SMA dynamic emphasis point. This is likewise around a territory of intrigue or previous resistance at $6,800 to $7,000.

RSI is as of now showing oversold conditions, however, or that vendors are worn out and prepared to give purchasers a chance to take control. Stochastic is likewise pulling up from the oversold district to flag an arrival in bullish weight.

BTCUSD Technical Chart 2 August

BTCUSD Technical Chart 2 August

Bitcoin price was overloaded by various figures before the week, in particular, news of stricter control in South Korea, the blackout on HitBTC, and Paul Krugman’s negative comments on cryptographic forms of money.

Notwithstanding, this probably won’t be sufficient to crash the positive assumption among most speculators as it has been already announced that institutional intrigue is getting. Moreover, the dollar could likewise be experiencing tension because of exacerbating exchange pressures between the U.S. what’s more, China, so elective resources like bitcoin could be ready to exploit.

#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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