#Bitcoin Price Analysis Bitcoin to $7000? Bitcoin Price Analysis 9 Oct Published 4 months ago on October 9, 2018 By Nadja Eriksson Share Tweet Bitcoin Price Key Focuses Bitcoin price exchanged higher as of late and broke the $6,600 and $6,620 resistance levels against the US Dollar. There is a noteworthy bullish pattern line set up with support at $6,550 on the hourly graph of the BTC/USD pair (information feed from Kraken). The pair is probably going to move higher towards the $6,650, $6,700 and $6,800 levels in the close term. Bitcoin price is situated pleasantly above $6,600 against the US Dollar. BTC/USD could quicken increases above $6,640 to test the following resistance at $6,800. Bitcoin Price Analysis Recently, we talked about that bitcoin price is by all accounts getting ready for the following leg either above $6,640 or beneath $6,460 against the US Dollar. The BTC/USD pair exchanged higher and broke the $6,600 and $6,620 resistance levels. There was additionally a break over the $6,640 level and bitcoin price settled over the 100 hourly straightforward moving normal. It exchanged to another week after week high at $6,688 and later it revised lower. It declined beneath the $6,650 level and the 23.6% Lie retracement level of the ongoing wave from the $6,490 low to $6,688 high. In any case, the drawback move was ensured by the $6,600 level, which was a resistance before. Additionally, the half Lie retracement level of the ongoing wave from the $6,490 low to $6,688 high acted offered help. There is additionally an interfacing bullish pattern line with support at $6,600 on the hourly diagram of the BTC/USD pair. Beneath $6,600, the 100 hourly SMA could hold misfortunes at $6,565. There is additionally another major bullish pattern line set up with support at $6,550. BTCUSD Price Chart 9 October Taking a gander at the graph, bitcoin price is situated pleasantly over the $6,550 support. For whatever length of time that the price is above $6,550 and the 100 hourly SMA, it could move higher. An underlying resistance is at $6,640, trailed by $6,700 and the last one is at $6,800. Taking a gander at the technical 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 over the 50 level. Real Support Level – $6,550 Real Resistance Level – $6,640 Related Topics:Bitcoinbitcoin blockchainbitcoin chartbitcoin forecastbitcoin futurebitcoin predictionbitcoin pricebitcoin price 2018bitcoin price todaybitcoin to usdbitcoin tradebitcoin tradingBlockchainbtcbtc analysisBTC exchangeBTC exchange rateBTC forecastBTC futureBTC predictionbtc pricebtc price analysisBTC TO USDBTC TRADINGBTC USD Chartbtc/usdbtcusddaytrading Up Next Cryptocurrency Thieves: How Do They Act, and How Can I Protect Myself? Don't Miss Blockchain Might Be Key as London Starts to Transform Into a Smart City Continue Reading You may like Largest Banks Adopting Blockchain Technology Ripple Price Analysis: Is XRP actually bullish? Ethereum Price Analysis: ETH strong enough for $200? Alert: JP Morgan Coin: A threat to Bitcoin and XRP? 10 facts that prove that Craig Wright is not the real Satoshi Nakamoto JP Morgan Stable coin: All you need to know about JPM coin. 3 Comments 3 Comments Pingback: Bitcoin to $7000? Bitcoin Price Analysis 9 Oct – The Coinage Times Pingback: Bitcoin to $7000? Bitcoin Price Analysis 9 Oct - Satoshiuncle Pingback: Bitcoin to $7000? Bitcoin Price Analysis 9 Oct | Coin News King Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Price Analysis Bitcoin Price Analysis: BTC in a critical zone. Published 3 weeks ago on January 29, 2019 By Nadja Eriksson Technical Indicators Significant Support Level – $3,375 Significant Resistance Level – $3,450 Bitcoin price fell to a monthly low towards $3,340 and later recovered. A resistance is formed close to $3,450 on the hourly chart of the BTC/USD pair. The price may begin a recovery back above $3500 if there is a break above $3,450. Bitcoin price fell to a yearly low and later recovered against the US Dollar. BTC could fall further if the buyers fail to break the resistance around $3,450. Bitcoin Price Analysis Recently, we saw a noteworthy decrease in bitcoin price beneath the $3,400 support against the US Dollar. The BTC/USD pair exchanged beneath the $3,360 support and shaped another yearly low at $3,344. Afterward, there was a new upside recovery over the $3,380 and $3,400 levels. A buying pressure helped in the recovery of the price over the $3,420 level, yet there is a solid resistance shaped close to the $3,450 level. Additionally, yesterday’s key bearish pattern line has formed a resistance close to $3,450 on the hourly chart of the BTC/USD pair. A break over the pattern line and resistance around $3,450 is must for further gains. The major resistance is close to $3,500. If buyers are unable to pick up strength above $3,450 and $3,480, bitcoin price can fall further below $3400. BTCUSD Price Chart Taking a gander at the chart, bitcoin price is moving toward the key $3,450 resistance. The major support is at $3,375. If this support is broken, the price may fall below to $3,300 range. Continue Reading #Bitcoin Price Analysis How Gold Price can help in Bitcoin Price Prediction Published 4 weeks ago on January 24, 2019 By Joyce Lang Considering the pre-internet era, the only prominent trusted source of information was the television or the newspapers. These media had enormous outreach but the origin was limited. The world is within our reach with the computer and internet at our command. What if there was a way of making a transaction that didn’t require the use of trusted intermediaries and had direct peer to peer transaction? A Blockchain gets introduced which is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. The most popular cryptocurrencies are Bitcoin, Ethereum, XRP, Iota, Cardano, Tron, Ripple, Monero, Litecoin and Stellar. Cryptocurrencies like bitcoins have innumerable advantages over the existing substitutes like, 1. They are decentralized and operate on a public-distributed database which holds and encrypted ledger. 2. They provide Transparent Public Transaction record, i.e in the Bitcoin system, every transaction is made public and recorded in blocks which turns out to be a part of the blockchain. 3. Bitcoin is unhackable due to its fundamental depiction. Bitcoin (BTC) traders could get cues from an apparent negative correlation that has developed between bitcoin and gold prices. Gold picked up a strong bid at $1,196 on Nov. 13 and jumped to $1,300 on Jan. 4, possibly due to a sell-off in the weakening U.S. dollar. The greenback was down against most currencies in last two months of 2018 on growing speculation that the Federal Reserve (Fed) could decrease or pause interest rate hikes in 2019. Bitcoin, however, did not benefit from that broad-based sell-off in the dollar. The cryptocurrency instead saw a revived bear market with a convincing move below $6,000 on Nov. 14 – a day after gold found takers around $1,200 per ounce. That price action indicates that the two assets are inversely correlated. Validating that argument is the 90-day correlation coefficient of -0.593. The statistical measure ranges from -1 to 1, with a negative number representing the inverse relationship between the two variables, while a positive number implies direct correlation. As a result, the leading cryptocurrency by market value could be influenced by the next move in gold prices. Currently, the safe haven metal is trading at $1,285, having hit a three-week low of $1,276 earlier this week. Meanwhile, BTC is trading in a narrow range above $3,500 for the 13th straight day. The prolonged period of consolidation could end with a strong bullish move if the corrective pullback in gold worsens. It is worth noting that correlation is not causation and only describes the relative change in one variable when there is a change in another. Gold and Bitcoin Chart As seen above, bitcoin and gold have moved in opposite directions since late November. Gold rallied 8.33 percent in seven weeks leading up to Jan. 4. During the same time, Bitcoin depreciated by 50 percent. Further, gold’s repeated failure at $1,300 has established that psychological level as a stiff near-term resistance. Meanwhile, Bitcoin has defended $3,500 since Jan. 11. The cryptocurrency could see a strong bullish move if the pullback in the yellow metal gathers steam. Continue Reading #Bitcoin Price Analysis Bitcoin Price Analysis: Will BTC rise or fall? Published 2 months ago on January 1, 2019 By Nadja Eriksson Technical Indicators: Support Level: $3600, $3700 Resistance Levels: $3900, $4200 Key Points: Bitcoin price has found major support above $3600 which is not letting the sellers push the price downwards. Bitcoin price is gaining momentum and a lot of buyers bought bitcoin during dips in the past few days. Bitcoin might move above $4000 in short-term to test the major resistance around $4200. Bitcoin price broke the bearish trend line with resistance close to $3700 and moved above. Bitcoin will most likely break above $4000 level and test the resistance around $4200. Bitcoin Price Analysis: Bitcoin price showed bearish momentum in the past few days falling down from above $4000 to around $3600 before starting the correction. The momentum right now is however quite bullish as the robust support above $3600 pushed the price upwards with a lot of buying. The price will likely experience some dips before actually rising above $4000 to test the major resistance. BTCUSD 24 hour chart Looking at the 24-hour chart, the support above $3600 is quite strong. However, the bitcoin needs to break the short-term resistance around $3900 in order to move above $4000 to test the major resistance point. Bitcoin is currently trading around $3774.75 according to Bittrex Chart (at the time of writing). The following article showcases the viewpoints of the writer and not Coinnounce.com. The readers are advised to do their own research and analysis before investing or trading in any digital assets such as bitcoin which is quite volatile in nature. 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