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  • Bitcoin Drops Again After Failed Recovery — $100K Support Now in Focus

    Bitcoin price failed to recover above $105,000. BTC is trimming gains and might could continue to move down if it trades below $101,200.

    • Bitcoin started a fresh decline after it failed to clear $105,500.
    • The price is trading below $105,000 and the 100 hourly Simple moving average.
    • There is a bearish trend line forming with resistance at $103,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might continue to move down if it settles below the $101,200 zone.

    Bitcoin Price Dips Further

    Bitcoin price failed to stay in a positive zone above the $105,500 pivot level. BTC bears remained active below $105,500 and pushed the price lower.

    The last swing high was formed at $107,400 before the price started a fresh decline. There was a drop below the $105,000 and $104,000 levels. The price dipped below the 61.8% Fib retracement level of the upward move from the $99,220 swing low to the $107,400 high.

    Bitcoin is now trading below $104,000 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $103,300 on the hourly chart of the BTC/USD pair.

    Source: BTCUSD on TradingView.com

    If the bulls attempt another recovery wave, the price could face resistance near the $102,500 level. The first key resistance is near the $103,250 level and the trend line. The next resistance could be $103,500. A close above the $103,500 resistance might send the price further higher. In the stated case, the price could rise and test the $105,000 resistance. Any more gains might send the price toward the $105,500 level. The next barrier for the bulls could be $106,800 and $107,000.

    More Losses In BTC?

    If Bitcoin fails to rise above the $103,500 resistance zone, it could start another decline. Immediate support is near the $101,200 level and the 76.4% Fib retracement level of the upward move from the $99,220 swing low to the $107,400 high. The first major support is near the $100,500 level.

    The next support is now near the $100,000 zone. Any more losses might send the price toward the $98,800 support in the near term. The main support sits at $96,500, below which BTC might accelerate lower in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $101,200, followed by $100,500.

    Major Resistance Levels – $103,250 and $103,500.

    Aayush Jindal

    Source link

  • Bitcoin Recovery Lacks Conviction, Market Signals Another Pullback Risk

    Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance.

    • Bitcoin started a fresh decline below the $104,000 support.
    • The price is trading below $104,000 and the 100 hourly Simple moving average.
    • There was a break above a bearish trend line with resistance at $103,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might continue to move down if it fails to surpass the $105,000 zone.

    Bitcoin Price Faces Resistance

    Bitcoin price failed to stay above the $105,000 support level and started a fresh decline. BTC dipped below $103,500 and $102,000 to enter a bearish zone.

    The decline was such that the price even spiked below the $100,000 support. A low was formed at $98,900 and the price recently started a recovery wave. There was a move above the 23.6% Fib retracement level of the downward move from the $111,000 swing high to the $98,900 low.

    Besides, there was a break above a bearish trend line with resistance at $103,000 on the hourly chart of the BTC/USD pair. However, the bears remained active near $104,000.

    Bitcoin is now trading below $104,000 and the 100 hourly Simple moving average. If the bulls attempt another recovery wave, the price could face resistance near the $103,500 level. The first key resistance is near the $104,000 level.

    Source: BTCUSD on TradingView.com

    The next resistance could be $105,000 and the 50% Fib retracement level of the downward move from the $111,000 swing high to the $98,900 low. A close above the $105,000 resistance might send the price further higher. In the stated case, the price could rise and test the $106,500 resistance. Any more gains might send the price toward the $107,500 level. The next barrier for the bulls could be $108,500 and $108,800.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $104,000 resistance zone, it could continue to move down. Immediate support is near the $102,150 level. The first major support is near the $100,500 level.

    The next support is now near the $100,000 zone. Any more losses might send the price toward the $98,800 support in the near term. The main support sits at $97,500, below which BTC might struggle to recover in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $102,150, followed by $100,500.

    Major Resistance Levels – $103,500 and $104,000.

    Aayush Jindal

    Source link

  • Bitcoin Price Under Pressure – Charts Turn Bearish As Bulls Lose Control

    Bitcoin price corrected losses and traded above the $115,000 level. BTC is now struggling and might start another decline below $110,000.

    • Bitcoin started a fresh decline after it failed to clear the $116,000 resistance level.
    • The price is trading below $115,000 and the 100 hourly Simple moving average.
    • There is a bearish trend line forming with resistance at $118,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might continue to move down if it trades below the $110,500 zone.

    Bitcoin Price Faces Resistance

    Bitcoin price started a recovery wave above the $112,000 resistance level. BTC recovered above the $112,500 and $113,200 resistance levels.

    The price climbed above the 61.8% Fib retracement level of the downward move from the $122,498 swing high to the $100,000 low. The bulls even pushed the price above the $115,000 resistance level. However, there are many hurdles on the upside.

    Bitcoin is now trading below $115,000 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $118,250 on the hourly chart of the BTC/USD pair.

    Source: BTCUSD on TradingView.com

    Immediate resistance on the upside is near the $114,000 level. The first key resistance is near the $115,000 level. The next resistance could be $116,000. A close above the $116,000 resistance might send the price further higher. In the stated case, the price could rise and test the $117,200 resistance and the 76.4% Fib retracement level of the downward move from the $122,498 swing high to the $100,000 low. Any more gains might send the price toward the $117,250 level. The next barrier for the bulls could be $118,500.

    Another Drop In BTC?

    If Bitcoin fails to rise above the $116,000 resistance zone, it could start a fresh decline. Immediate support is near the $111,800 level. The first major support is near the $110,500 level.

    The next support is now near the $110,200 zone. Any more losses might send the price toward the $108,500 support in the near term. The main support sits at $107,000, below which BTC might struggle to recover in the short term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $111,800, followed by $110,500.

    Major Resistance Levels – $115,000 and $116,000.

    Aayush Jindal

    Source link

  • Bitcoin Price Struggles Again – Will Bears Push Price Into Deeper Decline Soon?

    Bitcoin price extended losses after it traded below $113,800. BTC is now consolidating losses and might decline again to test the $110,500 support zone.

    • Bitcoin started a fresh decline below the $113,500 zone.
    • The price is trading below $113,500 and the 100 hourly Simple moving average.
    • There is a bearish trend line forming with resistance at $114,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might start another increase if it clears the $114,000 zone.

    Bitcoin Price Stuck Below Resistance

    Bitcoin price failed to start a recovery wave and stayed below $115,000. BTC declined below the $113,500 and $113,000 support levels to move further into a bearish zone.

    The decline gained pace below the $112,500 level. A low was formed at $111,111 and the price is now consolidating losses. There was a minor move above the 23.6% Fib retracement level of the recent decline from the $117,920 swing high to the $111,111 low.

    Bitcoin is now trading below $113,500 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $114,000 on the hourly chart of the BTC/USD pair.

    Immediate resistance on the upside is near the $113,500 level. The first key resistance is near the $114,000 level and the trend line. The next resistance could be $114,500 or the 50% Fib retracement level of the recent decline from the $117,920 swing high to the $111,111 low.

    Source: BTCUSD on TradingView.com

    A close above the $114,500 resistance might send the price further higher. In the stated case, the price could rise and test the $115,500 resistance. Any more gains might send the price toward the $116,500 level. The next barrier for the bulls could be $117,250.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $114,000 resistance zone, it could start a fresh decline. Immediate support is near the $112,000 level. The first major support is near the $111,250 level.

    The next support is now near the $110,500 zone. Any more losses might send the price toward the $108,800 support in the near term. The main support sits at $107,500, below which BTC might gain bearish momentum.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $112,000, followed by $111,250.

    Major Resistance Levels – $113,500 and $114,000.

    Aayush Jindal

    Source link

  • Bitcoin Price Recovery Hopes Rise – Can Bulls Push It Past Resistance?

    Bitcoin price is attempting a recovery wave above $110,000. BTC is now rising and might gain pace if it clears the $112,000 resistance level.

    • Bitcoin started a recovery wave above the $110,000 zone.
    • The price is trading above $111,000 and the 100 hourly Simple moving average.
    • There is a short-term rising channel forming with support at $110,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might start another decline if it stays below the $112,000 zone.

    Bitcoin Price Starts Recovery

    Bitcoin price started a fresh recovery wave above the $108,500 zone. BTC was able to climb above the $108,800 and $110,000 resistance levels.

    The price cleared the 50% Fib retracement level of the key drop from the $113,457 swing high to the $107,352 low. The upward move was such that the price spiked above the $111,200 level. Besides, there is a short-term rising channel forming with support at $110,500 on the hourly chart of the BTC/USD pair.

    However, the bears are still active near $111,500. Bitcoin is now trading above $110,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $111,500 level. The first key resistance is near the $112,000 level or the 76.4% Fib retracement level of the key drop from the $113,457 swing high to the $107,352 low.

    Source: BTCUSD on TradingView.com

    The next resistance could be $112,500. A close above the $112,500 resistance might send the price further higher. In the stated case, the price could rise and test the $113,450 resistance level. Any more gains might send the price toward the $114,500 level. The main target could be $115,500.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $112,000 resistance zone, it could start a fresh decline. Immediate support is near the $110,400 level. The first major support is near the $109,500 level.

    The next support is now near the $108,500 zone. Any more losses might send the price toward the $107,350 support in the near term. The main support sits at $105,500, below which BTC might decline sharply.

    Technical indicators:

    Hourly MACD – The MACD is now losing pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $110,400, followed by $109,500.

    Major Resistance Levels – $111,500 and $112,500.

    Aayush Jindal

    Source link

  • Bitcoin Price Stabilizes – Is This the Start of a Comeback?

    Bitcoin price is still showing bearish signs below $112,000. BTC is now attempting to recover and might face hurdles near the $110,500 level.

    • Bitcoin started a fresh decline below the $112,000 zone.
    • The price is trading below $110,500 and the 100 hourly Simple moving average.
    • There was a break above a short-term contracting triangle with resistance at $108,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might start another decline if it stays below the $110,500 zone.

    Bitcoin Price Starts Consolidation

    Bitcoin price attempted a fresh recovery wave from the $107,350 zone. BTC was able to climb above the $108,200 and $108,400 resistance levels.

    The price cleared the 23.6% Fib retracement level of the key drop from the $113,457 swing high to the $107,352 low. Besides, there was a break above a short-term contracting triangle with resistance at $108,800 on the hourly chart of the BTC/USD pair.

    However, the bears are still active near $109,500. The price is now consolidating near $109,500. Bitcoin is now trading below $110,000 and the 100 hourly Simple moving average.

    Immediate resistance on the upside is near the $109,500 level. The first key resistance is near the $110,200 level. The next resistance could be $110,500 or the 50% Fib retracement level of the key drop from the $113,457 swing high to the $107,352 low.

    Source: BTCUSD on TradingView.com

    A close above the $110,500 resistance might send the price further higher. In the stated case, the price could rise and test the $111,650 resistance level. Any more gains might send the price toward the $112,500 level. The main target could be $113,500.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $110,500 resistance zone, it could start a fresh decline. Immediate support is near the $108,800 level. The first major support is near the $108,200 level.

    The next support is now near the $107,350 zone. Any more losses might send the price toward the $106,500 support in the near term. The main support sits at $105,500, below which BTC might decline sharply.

    Technical indicators:

    Hourly MACD – The MACD is now losing pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $108,800, followed by $108,000.

    Major Resistance Levels – $109,500 and $110,500.

    Aayush Jindal

    Source link

  • Bitcoin Price Struggles to Rebound – Signs of a Bigger Crash Ahead?

    Bitcoin price is showing bearish signs below $113,000. BTC is struggling to recover and might start another decline below the $110,500 zone.

    • Bitcoin started a recovery wave from the $108,750 zone.
    • The price is trading below $112,500 and the 100 hourly Simple moving average.
    • There was a break above a key bearish trend line with resistance at $111,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might start another increase if it clears the $113,000 resistance zone.

    Bitcoin Price Attempts Fresh Increase

    Bitcoin price extended losses after close below the $112,000 level. BTC gained bearish momentum and traded below the $111,500 support zone.

    There was a move below the $110,500 support zone and the 100 hourly Simple moving average. The pair tested the $108,750 zone. A low was formed at $108,734 and the price recently started a recovery wave. There was a move above the $112,000 level.

    The price surpassed the 23.6% Fib retracement level of the key drop from the $117,354 swing high to the $110,734 low. Besides, there was a break above a key bearish trend line with resistance at $111,350 on the hourly chart of the BTC/USD pair.

    Bitcoin is now trading below $112,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $112,500 level. The first key resistance is near the $113,000 level or the 50% Fib retracement level of the key drop from the $117,354 swing high to the $110,734 low. The next resistance could be $114,000.

    Source: BTCUSD on TradingView.com

    A close above the $114,000 resistance might send the price further higher. In the stated case, the price could rise and test the $115,000 resistance level. Any more gains might send the price toward the $115,500 level. The main target could be $116,500.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $113,000 resistance zone, it could start a fresh decline. Immediate support is near the $110,600 level. The first major support is near the $109,500 level.

    The next support is now near the $108,750 zone. Any more losses might send the price toward the $107,100 support in the near term. The main support sits at $105,500, below which BTC might accelerate lower.

    Technical indicators:

    Hourly MACD – The MACD is now losing pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $110,600, followed by $109,500.

    Major Resistance Levels – $112,500 and $113,000.

    Aayush Jindal

    Source link

  • Bitcoin Price Trims Gains: Is the Rally Losing Steam?

    Bitcoin Price Trims Gains: Is the Rally Losing Steam?

    Bitcoin price started a downside correction from the $62,700 resistance zone. BTC is now consolidating near $58,500 and struggling to recover.

    • Bitcoin started a decent downward move below the $61,500 and $60,000 levels.
    • The price is trading below $60,000 and the 100 hourly Simple moving average.
    • There was a break below a key bullish trend line with support at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair might decline further if it trades below the $58,500 support zone.

    Bitcoin Price Holds Support

    Bitcoin price started a downside correction after it failed to stay above $62,500. BTC declined below the $61,500 and $60,000 levels to move into a short-term bearish zone.

    There was a break below a key bullish trend line with support at $61,000 on the hourly chart of the BTC/USD pair. The pair even dipped below the 50% Fib retracement level of the upward move from the $54,556 swing low to the $62,700 high.

    Bitcoin price is now trading below $60,000 and the 100 hourly Simple moving average. The bulls are protecting the $58,500 support zone. The price is stable above the 61.8% Fib retracement level of the upward move from the $54,556 swing low to the $62,700 high.

    On the upside, the price could face resistance near the $59,500 level. The first key resistance is near the $60,000 level. A clear move above the $60,000 resistance might send the price further higher in the coming sessions. The next key resistance could be $61,200.

    The next major hurdle sits at $62,500. A close above the $62,500 resistance might spark bullish moves. In the stated case, the price could rise and test the $65,000 resistance.

    More Downsides In BTC?

    If Bitcoin fails to rise above the $60,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,500 level.

    The first major support is $57,650. The next support is now near the $57,250 zone. Any more losses might send the price toward the $55,500 support zone or even $55,000 in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $58,500, followed by $57,250.

    Major Resistance Levels – $59,500, and $60,000.

    Aayush Jindal

    Source link

  • Bitcoin Price Signals Bearish Continuation, Why BTC Could Drop Below $60K

    Bitcoin Price Signals Bearish Continuation, Why BTC Could Drop Below $60K

    Bitcoin price started a fresh decline from the $62,000 resistance zone. BTC is declining and remains at a risk of more losses below the $60,000 level.

    • Bitcoin started a fresh decline after it failed near $62,000.
    • The price is trading below $61,000 and the 100 hourly Simple moving average.
    • There was a break below a bearish flag pattern with support near $60,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could gain bearish momentum if there is a close below the $60,000 level.

    Bitcoin Price Signals Breakdown

    Bitcoin price found support near the $60,250 zone and started a recovery wave. BTC was able to recover above the 23.6% Fib retracement level of the downward move from the $63,217 swing high to the $60,250 low.

    However, the bears were active near the $61,800 resistance zone. They defended the 50% Fib retracement level of the downward move from the $63,217 swing high to the $60,250 low. There was a fresh bearish reaction below the $61,200 support zone.

    There was a break below a bearish flag pattern with support near $60,950 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $61,000 and the 100 hourly Simple moving average.

    Immediate resistance is near the $61,200 level. The first major resistance could be $62,000 or the 100 hourly Simple moving average. The next key resistance could be $62,500. A clear move above the $62,500 resistance might send the price higher.

    Source: BTCUSD on TradingView.com

    The main resistance now sits at $63,500. If there is a close above the $63,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000.

    More Downsides In BTC?

    If Bitcoin fails to climb above the $61,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,500 level.

    The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward $58,500. Any more losses might send the price toward the $56,650 support zone in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $60,500, followed by $60,000.

    Major Resistance Levels – $61,200, $62,200, and $62,500.

    Aayush Jindal

    Source link

  • Bitcoin Price Signals Uptrend Continuation But Patience Is The Key

    Bitcoin Price Signals Uptrend Continuation But Patience Is The Key

    Bitcoin price extended its increase above the $64,000 resistance. BTC is now holding gains above $62,800 and might aim for more upsides.

    • Bitcoin traded to a new weekly high at $65,500 before there was a downside correction.
    • The price is trading above $63,500 and the 100 hourly Simple moving average.
    • There is a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could aim for more upsides if it clears the $64,500 and $65,500 resistance levels.

    Bitcoin Price Aims Higher

    Bitcoin price remained well-bid above the $62,500 support zone and extended its increase. BTC was able to clear the $64,500 resistance. It even cleared $65,000 and tested $65,500.

    A high was formed at $65,550 and the price is now correcting gains. There was a minor decline below the $64,000 level. The price tested the 23.6% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high.

    However, the bulls are active near the $63,000 zone. There is also a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC/USD pair.

    Bitcoin is now trading above $63,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,500 level. The first major resistance could be $65,000. The next key resistance could be $65,500.

    Source: BTCUSD on TradingView.com

    A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $67,200. If there is a clear move above the $67,200 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,800.

    Another Drop In BTC?

    If Bitcoin fails to rise above the $65,500 resistance zone, it could start another decline. Immediate support on the downside is near the $63,350 level and the trend line.

    The first major support is $62,800. If there is a close below $62,800, the price could start to drop toward the 50% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high at $60,800. Any more losses might send the price toward the $60,000 support zone in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

    Major Support Levels – $63,350, followed by $62,800.

    Major Resistance Levels – $64,500, $65,000, and $65,500.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

    Source link

  • Bitcoin Price Approaches Breakout, Can BTC Pump Above $66K?

    Bitcoin Price Approaches Breakout, Can BTC Pump Above $66K?

    Bitcoin price recovered and climbed above the $64,000 resistance zone. BTC is now facing hurdles near the $65,500 and $66,000 levels.

    • Bitcoin is now struggling to gain pace for a move above the $65,500 resistance zone.
    • The price is trading above $64,000 and the 100 hourly Simple moving average.
    • There is a key contracting triangle forming with resistance at $65,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a fresh surge if it clears the $65,500 resistance zone.

    Bitcoin Price Starts Increase

    Bitcoin price found support above $60,000 and started a fresh increase. BTC climbed above the $62,500 and $63,500 resistance levels. The bulls even pushed the price above the $65,000 level.

    However, the bears seem to be active near the $65,500 zone. The recent high was formed at $65,598 and the price is now consolidating gains. There was a drop below the $65,000 level, but the price is still above the 23.6% Fib retracement level of the upward move from the $59,666 swing low to the $65,598 low.

    Bitcoin price is trading above $64,000 and the 100 hourly Simple moving average. Immediate resistance is near the $65,100 level. There is also a key contracting triangle forming with resistance at $65,100 on the hourly chart of the BTC/USD pair.

    The first major resistance could be $65,500. The next resistance now sits at $66,000. If there is a clear move above the $66,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $67,500.

    Source: BTCUSD on TradingView.com

    The next major resistance is near the $68,500 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term.

    Downside Correction In BTC?

    If Bitcoin fails to rise above the $65,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $64,500 level.

    The first major support is $64,000. If there is a close below $64,000, the price could start to drop toward the 50% Fib retracement level of the upward move from the $59,666 swing low to the $65,598 low at $62,500. Any more losses might send the price toward the $61,200 support zone in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now losing pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

    Major Support Levels – $64,500, followed by $64,000.

    Major Resistance Levels – $65,100, $65,500, and $66,000.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

    Source link

  • Bitcoin Price Gearing For Another Lift-Off to $72.5K: Dips Turn Attractive

    Bitcoin Price Gearing For Another Lift-Off to $72.5K: Dips Turn Attractive

    Bitcoin price found support near $67,500. BTC started a fresh increase and might soon revisit the $72,500 resistance zone in the near term.

    • Bitcoin retested the $67,500 support zone before it started a fresh increase.
    • The price is trading above $70,000 and the 100 hourly Simple moving average.
    • There was a break above a key bearish trend line with resistance at $69,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could gain bullish momentum if it clears the $71,400 resistance zone.

    Bitcoin Price Holds Support

    Bitcoin price saw another decline below the $70,000 zone. BTC even dived below the $68,500 level after the US CPI increased more than expected. However, the bulls were active near the $67,500 support.

    A low was formed at $67,500 and the price started a fresh increase. There was a move above the $69,200 and $69,500 resistance levels. The price cleared the 50% Fib retracement level of the downward move from the $72,597 swing high to the $67,500 low.

    There was a break above a key bearish trend line with resistance at $69,600 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $70,000 and the 100 hourly Simple moving average.

    Immediate resistance is near the $71,400 level or the 76.4% Fib retracement level of the downward move from the $72,597 swing high to the $67,500 low. The first major resistance could be $72,500. The next resistance now sits at $72,800. If there is a clear move above the $72,800 resistance zone, the price could continue to move up.

    Source: BTCUSD on TradingView.com

    In the stated case, the price could rise toward $73,200. The next major resistance is near the $73,500 zone. Any more gains might send Bitcoin toward the $75,000 resistance zone in the near term.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $71,400 resistance zone, it could start another decline. Immediate support on the downside is near the $70,000 level and the 100 hourly SMA.

    The first major support is $69,200. If there is a close below $69,200, the price could start a drop toward the $68,500 level. Any more losses might send the price toward the $67,500 support zone in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $70,000, followed by $69,200.

    Major Resistance Levels – $71,400, $72,500, and $73,500.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

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  • Bitcoin Price Turns Red Below $64K But Long-Term Uptrend Intact

    Bitcoin Price Turns Red Below $64K But Long-Term Uptrend Intact

    Bitcoin price extended its decline below the $65,000 support. BTC is now struggling to stay above the $62,000 support zone and might test $60,000.

    • Bitcoin price is moving lower below the $64,000 support zone.
    • The price is trading below $63,500 and the 100 hourly Simple moving average.
    • There is a connecting bearish trend line forming with resistance at $63,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a decent upward move if it clears the $65,200 resistance zone in the near term.

    Bitcoin Price Grinds Lower

    Bitcoin price remained in a short-term bearish zone below the $66,500 zone. BTC traded below the $65,000 and $64,000 support levels to set a new weekly low.

    There was a push below the $62,500 support. A low was formed near $61,537 and the price is now consolidating losses. The price is now struggling below the 23.6% Fib retracement level of the recent decline from the $68,898 swing high to the $61,537 low.

    Bitcoin is now trading below $63,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,300 level. There is also a connecting bearish trend line forming with resistance at $63,300 on the hourly chart of the BTC/USD pair.

    Source: BTCUSD on TradingView.com

    The first major resistance could be $64,000. If there is a clear move above the $64,000 resistance zone, the price could even attempt a move toward the $65,200 resistance zone. It is close to the 50% Fib retracement level of the recent decline from the $68,898 swing high to the $61,537 low. Any more gains might send the price toward the $67,000 level.

    More Losses In BTC?

    If Bitcoin fails to rise above the $63,300 resistance zone, it could continue to move down. Immediate support on the downside is near the $62,000 level.

    The first major support is $61,500. The next support sits at $60,500. If there is a close below $60,500, the price could start a drop toward the $60,000 level. Any more losses might send the price toward the $58,800 support zone in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $61,500, followed by $60,000.

    Major Resistance Levels – $63,300, $64,000, and $65,200.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

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  • Bitcoin Price Reclaims 100 SMA But Momentum Seems To Be Fading

    Bitcoin Price Reclaims 100 SMA But Momentum Seems To Be Fading

    Bitcoin price is still struggling to settle above the $68,000 resistance. BTC is now consolidating and might drop again toward the $63,500 support.

    • Bitcoin price is struggling to clear the $68,000 and $68,500 levels.
    • The price is trading above $66,000 and the 100 hourly Simple moving average.
    • There is a key rising channel forming with resistance near $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start another decline and trade toward $63,500 support zone.

    Bitcoin Price Faces Hurdles

    Bitcoin price recovered most losses and settled above the $65,000 level. However, BTC seems to be struggling to clear the $68,000 and $68,500 levels, unlike Ethereum.

    The recent high was formed at $68,034 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward wave from the $59,150 swing low to the $68,034 high. There is also a key rising channel forming with resistance near $68,200 on the hourly chart of the BTC/USD pair.

    Bitcoin is still trading above $66,000 and the 100 hourly Simple moving average. Immediate resistance is near the $67,500 level. The next key resistance could be $68,000, above which the price could rise toward the $68,500 resistance zone.

    Source: BTCUSD on TradingView.com

    If there is a clear move above the $68,500 resistance zone, the price could even attempt a move above the $69,200 resistance zone. Any more gains might send the price toward the $70,000 level.

    Another Decline In BTC?

    If Bitcoin fails to rise above the $68,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $66,550 level and the channel trend line.

    The first major support is $66,000. If there is a close below $66,000, the price could start a decent pullback toward the 50% Fib retracement level of the upward wave from the $59,150 swing low to the $68,034 high at $63,500. Any more losses might send the price toward the $62,500 support zone.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

    Major Support Levels – $66,550, followed by $66,000.

    Major Resistance Levels – $67,500, $68,000, and $68,500.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

    Source link

  • Bitcoin Price Consolidates Gains, Can BTC Extend Rally To $60K?

    Bitcoin Price Consolidates Gains, Can BTC Extend Rally To $60K?

    Bitcoin price rallied further toward $58,000. BTC is now consolidating gains and might soon attempt more gains toward the $60,000 resistance.

    • Bitcoin price is consolidating gains below the $57,500 resistance zone.
    • The price is trading above $56,000 and the 100 hourly Simple moving average.
    • There is a rising channel forming with resistance near $57,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could extend its current rally toward the $60,000 resistance zone.

    Bitcoin Price Faces Fresh Hurdle

    Bitcoin price extended its rally above the $55,000 resistance zone. BTC gained bullish momentum after it broke the $55,500 and $56,000 resistance levels. There was also a spike above the $57,000 resistance zone.

    A new multi-week high is formed near $57,572 and the price is now consolidating gains. There was a minor decline below the $57,000 level, but the price is still above the 23.6% Fib retracement level of the recent wave from the $50,950 swing low to the $57,572 high.

    Bitcoin is now trading above $56,000 and the 100 hourly Simple moving average. Immediate resistance is near the $57,200 level. The next key resistance could be $57,500.

    Source: BTCUSD on TradingView.com

    There is also a rising channel forming with resistance near $57,650 on the hourly chart of the BTC/USD pair, above which the price could rise toward the $58,000 resistance zone. If the bulls remain in action, the price could even surpass $58,000 and test $58,800. The main hurdle for them is visible near the $60,000 zone.

    Are Dips Supported In BTC?

    If Bitcoin fails to rise above the $57,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $56,800 level.

    The first major support is $56,000. If there is a close below $56,000, the price could start a decent pullback toward the 50% Fib retracement level of the recent wave from the $50,950 swing low to the $57,572 high at $54,250. Any more losses might send the price toward the $53,200 support zone.

    Technical indicators:

    Hourly MACD – The MACD is now losing pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $56,800, followed by $56,000.

    Major Resistance Levels – $57,500, $57,650, and $58,000.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

    Source link

  • Why “Overbought” Bitcoin Could Trigger A 107% Rally

    Why “Overbought” Bitcoin Could Trigger A 107% Rally


    Bitcoin price had previously been showing extreme strength leading up until the debut of the first spot ETFs. That strength has since subsided, leading to a 20% correction in BTCUSD.

    A popular technical indicator that measures momentum, however, could point to powerful continuation to the upside, but only if a certain level is breached. Keep reading to learn more about the Relative Strength Index and how the top cryptocurrency behaves once the market reaches an “overbought” level.

    Bitcoin Approaches “Overbought” And Why This Isn’t A Bad Thing

    The Relative Strength Index is a momentum-measuring tool that signals when a market is “overbought” or “oversold”. When a financial asset reaches such conditions, it often means the trend is about to change.

    In Bitcoin and other cryptocurrencies, the weekly RSI is often a signal that the asset is moving into its most powerful phase. For example, Bitcoin made it above a reading of 70 in October 2023, and only weeks later saw an over 60% rally to local 2024 highs.

    Now 1W BTCUSD charts are showing an RSI reading of just below 70, pointing to a possible close back above the overbought level. If bulls can keep the top cryptocurrency by market cap above $43,650, the weekly RSI should close above the threshold.

    The average move is 107% | BTCUSD on TradingView.com

    BTCUSD Historical 1W Relative Strength Data

    Historical data could possibly shed some light on what might happen if the weekly Relative Strength Index gets the close above 70 as anticipated.

    Over the last ten years, Bitcoin saw a 1W RSI close above 70 a total of 13 times. This happened 8 times in 2016 and 2017, twice in 2019, and once each in 2020 and 2021. One additional instance occurred in 2023.

    Of the 13 times, the average gain after the RSI closed above 70 to the peak of the movement was 107%. The largest rally was in 2020, bringing over 400% returns. The smallest rally was in 2016 and saw only a 20% gain.

    After removing the largest and smallest outliers, the average drops down to around 61%. This could mean that Bitcoin could produce on average a move between 61 and 107%.

    A 61% gain takes BTCUSD back to just under $68,000 and shy of a new all-time high, while a 107% move sets a new record closer to $90,000 per coin. The cryptocurrency is also potentially working on a bull flag pattern, with a target of around $77,000.

    Bitcoin bull flag rsi

    The 75% target is within historical averages | BTCUSD on TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



    Tony "The Bull" Severino

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  • Bitcoin Price Regains Strength As The Bulls Aim For Retest of $45K

    Bitcoin Price Regains Strength As The Bulls Aim For Retest of $45K


    Bitcoin price is gaining pace above the $42,500 resistance. BTC is showing positive signs and might extend its increase toward the $45,000 resistance.

    • Bitcoin price is moving higher above the $42,500 resistance zone.
    • The price is trading above $43,000 and the 100 hourly Simple moving average.
    • There is a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could continue to rise if it clears the $43,800 and $44,200 resistance levels.

    Bitcoin Price Climbs Higher

    Bitcoin price started a decent increase above the $41,200 resistance zone. BTC was able to clear the $42,500 and $42,800 resistance levels to move further into a positive zone.

    The bulls pushed the price above the $43,000 resistance and the price pumped toward $43,800. A new weekly high is formed near $43,779 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high.

    Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average. There is also a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC/USD pair. The trend line is near the 76.4% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high.

    Immediate resistance is near the $43,800 level. The next key resistance could be $44,200, above which the price could rise and test $44,500. A clear move above the $44,500 resistance could send the price toward the $45,000 resistance.

    Source: BTCUSD on TradingView.com

    The next resistance is now forming near the $45,500 level. A close above the $45,500 level could push the price further higher. The next major resistance sits at $46,500.

    Are Dips Limited In BTC?

    If Bitcoin fails to rise above the $43,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,200 level.

    The next major support is $42,500. The main support could be $42,200 and the trend line. If there is a close below $42,200, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $43,200, followed by $42,500.

    Major Resistance Levels – $43,800, $44,500, and $45,000.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



    Aayush Jindal

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  • Bitcoin Price Restarts Increase – Can BTC Pump To $45K Again?

    Bitcoin Price Restarts Increase – Can BTC Pump To $45K Again?


    Bitcoin price is recovering higher above the $42,000 resistance. BTC must clear $42,800 and $43,500 to start an increase toward the $45,000 resistance.

    • Bitcoin price is moving higher above the $42,000 resistance zone.
    • The price is trading above $41,500 and the 100 hourly Simple moving average.
    • There is a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a steady increase if it clears the $42,800 and $43,500 resistance levels.

    Bitcoin Price Aims Higher

    Bitcoin price formed a support base above the $40,000 support zone. BTC started a decent increase above the $41,200 and $41,500 resistance levels.

    It opened the doors for more gains above $42,000 and the 100 hourly Simple moving average. Finally, the price tested the $42,800 zone. A high was formed near $42,800 before there was a minor decline. The price declined below the $42,200 level.

    Bitcoin tested the 23.6% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high. There is also a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC/USD pair.

    The price is now trading above $41,500 and the 100 hourly Simple moving average. Immediate resistance is near the $42,500 level. The next key resistance could be $42,800, above which the price could rise and test $43,500.

    Source: BTCUSD on TradingView.com

    A clear move above the $43,500 resistance could send the price toward the $44,250 resistance. The next resistance is now forming near the $45,000 level. A close above the $45,000 level could push the price further higher. The next major resistance sits at $46,500.

    Another Drop In BTC?

    If Bitcoin fails to rise above the $42,800 resistance zone, it could start another decline. Immediate support on the downside is near the $41,750 level.

    The next major support is $41,500 and the trend line. If there is a close below $41,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support or the 50% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $41,500, followed by $40,650.

    Major Resistance Levels – $42,800, $43,500, and $45,000.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



    Aayush Jindal

    Source link

  • Bitcoin Price Rallies 5% and $48K Now Seems Imminent

    Bitcoin Price Rallies 5% and $48K Now Seems Imminent

    Bitcoin price was able to clear the $44,500 and $44,700 resistance levels. BTC is up over 5% and might soon attempt a move toward $48,000.

    • Bitcoin is gaining pace above the $45,500 resistance zone.
    • The price is trading above $45,000 and the 100 hourly Simple moving average.
    • There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could continue to move up toward the $48,000 level unless there is a close below $44,000.

    Bitcoin Price Starts Fresh Increase

    Bitcoin price started a fresh increase above the $43,500 resistance zone. BTC gained bullish momentum above the $44,000 and $44,500 levels to move into a positive zone.

    There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC/USD pair. The bulls pumped the price to a new multi-day high at $47,306 and the price is now consolidating gains.

    Bitcoin is now trading above $45,000 and the 100 hourly Simple moving average. It is also above the 23.6% Fib retracement level of the upward move from the $43,208 swing low to the $47,306 high.

    On the upside, immediate resistance is near the $47,000 level. The first major resistance is $47,200. A clear move above the $47,200 resistance could send the price toward the $48,000 resistance. The next resistance is now forming near the $48,800 level.

    Source: BTCUSD on TradingView.com

    A close above the $48,800 level could send the price further higher. The next major resistance sits at $49,250. Any more gains above the $49,250 level could open the doors for a move toward the $50,000 level.

    Another Drop In BTC?

    If Bitcoin fails to rise above the $47,200 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $46,400 level.

    The next major support is near $45,900. If there is a move below $45,900, the price could gain bearish momentum. In the stated case, the price could drop toward the $45,250 support or the 50% Fib retracement level of the upward move from the $43,208 swing low to the $47,306 high in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $46,400, followed by $45,250.

    Major Resistance Levels – $47,000, $47,200, and $48,000.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

    Source link

  • Bitcoin Price Plunge Imminent as Bears Protect Key Resistance

    Bitcoin Price Plunge Imminent as Bears Protect Key Resistance

    Bitcoin price is still struggling to clear the $44,500 and $44,700 resistance levels. BTC is showing a few bearish signs and might drop toward $42,150.

    • Bitcoin is facing a major hurdle near the $44,500 resistance zone.
    • The price is trading below $44,000 and the 100 hourly Simple moving average.
    • There was a break below a key bullish trend line with support at $44,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could decline toward the $42,350 and $42,150 support levels.

    Bitcoin Price Faces Hurdles

    Bitcoin price attempted a fresh increase above the $43,500 resistance zone. BTC even broke the $43,800 resistance zone but the bears were active near the $44,500 resistance zone.

    There were a few attempts to gain strength above $44,500, but the bears remained active. A high was formed near $44,483 and the price is now showing a few bearish signs. There was a drop below the $44,000 support zone. The price traded below the 50% Fib retracement level of the upward move from the $42,480 swing low to the $44,483 high.

    Besides, there was a break below a key bullish trend line with support at $44,000 on the hourly chart of the BTC/USD pair. Bitcoin is now below $44,000 and the 100 hourly Simple moving average.

    Source: BTCUSD on TradingView.com

    On the upside, immediate resistance is near the $44,000 level. The first major resistance is $44,200. The main resistance is now forming near the $44,500 level. A close above the $44,500 level could send the price further higher. The next major resistance sits at $45,450. Any more gains above the $45,450 level could open the doors for a move toward the $46,200 level.

    More Losses In BTC?

    If Bitcoin fails to rise above the $44,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $43,200 level or the 61.8% Fib retracement level of the upward move from the $42,480 swing low to the $44,483 high.

    The next major support is near $42,800. If there is a move below $42,800, the price could gain bearish momentum. In the stated case, the price could drop toward the $42,150 support in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

    Major Support Levels – $42,800, followed by $42,150.

    Major Resistance Levels – $44,000, $44,200, and $44,500.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

    Source link