Connect with us

#Bitcoin Price Analysis

BTC at a small risk of losses. Bitcoin Price Analysis 3 Oct

Published

on

Bitcoin price broke key supports around $6,520 against the US Dollar. BTC/USD is presently at a danger of more misfortunes towards the $6,360 support.

Bitcoin Price Key Focuses

  • Bitcoin price broke the $6,540 and $6,520 support levels to move into a bearish zone against the US Dollar.
  • Yesterday’s featured critical contracting triangle was ruptured with support at $6,520 on the hourly outline of the BTC/USD pair.
  • The pair tried the $6,400 support level and it is as of now redressing higher for the time being.

Bitcoin price broke key supports around $6,520 against the US Dollar. BTC/USD is presently at a danger of more misfortunes towards the $6,360 support.

 

Bitcoin Price Analysis

Amid the previous two days, we generally observed range moves underneath the $6,700 resistance in bitcoin price against the US Dollar. The BTC/USD pair as of late confronted an expanded offering weight and declined beneath the $6,540 support. Bitcoin price even settled underneath the $6,500 support and the 100 hourly basic moving normal. It appears as though purchasers neglected to pick up footing over the $6,620 level, bringing about a bearish break.

All the more imperatively, yesterday’s featured critical contracting triangle was broken with support at $6,520 on the hourly diagram of the BTC/USD pair. The pair exchanged towards the $6,400 support and framed a low at $6,401. It is at present amending higher towards the 23.6% Lie retracement level of the ongoing drop from the $6,598 high to $6,401 low. It might maybe keep on moving higher towards the $6,500-6,520 zone, which is probably going to go about as a resistance. It additionally speaks to the half Lie retracement level of the ongoing drop from the $6,598 high to $6,401 low. Plus, there are two associating bearish pattern lines set up with resistance close $6,520.

 

BTCUSD Price Chart 3 October

BTCUSD Price Chart 3 October

 

Taking a gander at the diagram, bitcoin price may adjust higher for the time being, yet the past support at $6,520 could avert gains. On the drawback, a break beneath the ongoing low at $6,401 may drive bitcoin price towards the $6,360 support.

 

Taking a gander at the technical markers:

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

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

Significant Support Level – $6,400

Real Resistance Level – $6,520

#Bitcoin Price Analysis

BTC Daily Trading Signals: 24 October

Published

on

Dominant bias for Bitcoin (BTC)- Ranging

Resistance Levels- $6800, $6900, $7000

Support Levels- $6000, $5900. $5800

 

BTC continues in a range-bound market. The strong bearish pressure within ensures BTC made a new low of $6524.3 on 23rd October as against the low of $6535 on 22nd October at the support area. Exhaustion sets in as the candle close with a wick. The bulls gradually stage a return within the range with the bullish railroad formation at $6540.2. BTC was up at $6580 in the resistance area before the session ended. Temporary rejection against further upward price movement occurred at the 50-EMA.

 

BTC 4-hour chart

BTC 4-hour chart

 

Price is hovering around the two EMAS but the stochastic oscillator is at 26% and its signal points up which implies upward price movement within the range may occur.

BTC is in consolidation and trading between $6800 in the upper resistance area and at $6300 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position.

Continue Reading

#Bitcoin Price Analysis

BTC Daily Trading Signals: 23 October

Published

on

BTC was down to $6538 in the support area while the bulls show sign of gradual return within the range as bullish candles were been formed.

Dominant bias for Bitcoin (BTC)–Ranging

Resistance Levels- $6800, $6900, $7000

Support Levels- $6000, $5900. $5800

 

BTC continues in a range-bound market. The strong bearish pressure within the range was lost on 20th October after the formation of a bullish spinning top at $6524. The bulls manage a push of BTCUSD to $6660 in the resistance area before exhaustion sets in as the candle closes with a wick on  21st October. The bears’ takeover s further confirmed by the bearish railroad form at $6642 same day.

 

BTC 4-hourchart

BTC 4-hour chart

 

BTCUSD was down to $6538 in the support area on 22nd October while the bulls show sign of gradual return within the range as bullish candles were been formed.

The stochastic oscillator is in the oversold region at 23% but its signal points up which implies upward price movement within the range may occur.

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, but it will be a good strategy to wait for either to occur before taking a position.

Continue Reading

#Bitcoin

Bitcoin: Long Term Trading Signals 22 Oct

Published

on

Bitcoin is in consolidation and trading between $6700 in the upper supply area and at $6250 in the lower demand area of the range.

LONG-TERM Trading Signals for BTC/USD

Bias for Bitcoin (BTC) – Ranging

Resistance Levels- $6800, $6900, $7000

Support Level-$6100, $6000. $5900

 

Bitcoin is still in a range-bound market on the long-term outlook. The struggle for the market control between the bulls and bears remains obvious. The bulls progressive movement that started on 12th October after the spinning top saw BTCUSD at $7788 in the supply area on 15th October. This led to the break of the upper resistance area and the 200-EMA.  

The bears’ pressure forced the candle to close at $6742 within the range and below the 200-EMA. BTCUSD was down to $6511 in the support area on 20th October due to the sustained bearish pressure.

 

BTCUSD chart

BTCUSD chart

 

The formation of a bullish railroad on 20th October indicates the bulls gradual return.  Should the daily candle of 21st October close bullish, it will suggest the bullish pressure within the range will be stronger as price sits above the 34 EMA

Bitcoin is in consolidation and trading between $6700 in the upper supply area and at $6250 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area is imperative. To flow with the trend, traders should be patient to allow this to take place before taking a position.

Continue Reading
Advertisement blockonix.com

Live Crypto Prices

  • BTC
  • USD
  • AUD
  • CAD
  • EUR
  • BTC
    Bitcoin(BTC) 6518.95244643
  • ETH
    Ethereum(ETH) 205.581498142
  • BCH
    Bitcoin Cash(BCH) 448.174784244
  • EOS
    EOS(EOS) 5.4356700732
  • LTC
    Litecoin(LTC) 52.7026236855
  • ADA
    Cardano(ADA) 0.0755242922
  • TRX
    TRON(TRX) 0.0236381376
  • DASH
    Dash(DASH) 158.894909975
  • XEM
    NEM(XEM) 0.098340015

Trending