íàçâàíèå

Bitcoin Price (BTC/USD) Signaling Bullish Acceleration Above $10,500

Bitcoin price traded higher and broke the key $10,200 resistance area against the US Dollar.
The price is placed nicely above the $10,200 level and it recently tested the $10,500 area.
There is a major bullish trend line forming with support near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price remains in an uptrend and it may soon accelerate above the $10,500 resistance level.

There were decent gains in bitcoin price above $10,200 against the US Dollar. BTC price is likely preparing for more gains above the $10,500 and $10,600 levels.

Bitcoin Price Analysis

In the past few sessions, there were positive moves in bitcoin price above $10,000 against the US Dollar. The BTC/USD pair broke the main $10,200 resistance level to move further into the bullish zone. Moreover, there was a close above the $10,200 resistance and the 100 hourly simple moving average. It opened the doors for more gains above the $10,400 level and the price tested the $10,500 resistance level.

A swing high was formed near $10,491 and the price is currently consolidating gains. An immediate support is near the $10,350 level, plus the 23% Fib retracement level of the recent upward move from the $9,881 low to $10,491 high. Moreover, there is a short term declining channel or bullish flag forming with resistance near $10,400 on the hourly chart of the BTC/USD pair.

If there is an upside break, the price is likely to accelerate above $10,450 and $10,500. The next key resistance is near the $10,600 level. On the downside, there is a strong support forming near the $10,200 level. Moreover, there is a major bullish trend line forming with support near $10,200 on the same chart. Finally, the 50% Fib retracement level of the recent upward move from the $9,881 low to $10,491 high is near the $10,180 level.

Therefore, a downside correction towards the $10,200 level is likely to find strong buying interest in the near term. If there is a downside break below the $10,200 support, the price could revisit the $10,000 support area.

Looking at the chart, bitcoin price is trading with a bullish bias above the $10,000 and $10,200 support levels. Therefore, there are high chances of more gains above the $10,500 and $10,600 levels in the coming sessions. Only a close below $10,000 might push the price back in a bearish zone.

Technical indicators:

Hourly MACD The MACD is slowly losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is currently correcting lower towards the 55 level.

Major Support Levels $10,200 followed by $10,000.

Major Resistance Levels $10,400, $10,500 and $10,600.

The post Bitcoin Price (BTC/USD) Signaling Bullish Acceleration Above $10,500 appeared first on NewsBTC.

01.08.2019 / 23:30 16
Bitcoin Price (BTC/USD) Signaling Bullish Continuation To $10,200 Bitcoin Price (BTC/USD) Signaling
Bitcoin price formed a solid support near the $9,200 level and recently recovered against the US Dollar. The price is trading nicely above $9,500 and
Bitcoin Price (BTC) Signaling Bullish Continuation To $11K Bitcoin Price (BTC) Signaling Bullish
Bitcoin price rallied recently above the $10,000 and $10,200 resistance levels against the US Dollar. The price climbed towards the $10,800
Bitcoin (BTC) Price Primed For Gains With Bullish Sentiment On Rise Bitcoin (BTC) Price Primed For Gains
Bitcoin price fund a strong support near the $4,920 level and later recovered against the US Dollar. The price broke the $5,120 resistance level to
Ethereum (ETH) Price Signaling Bullish Breakout, Buying Dips Favored Ethereum (ETH) Price Signaling Bullish
ETH price climbed higher nicely after forming a support base above $165 against the US Dollar. The price broke the key $175 and $180 resistance
Ethereum Price Analysis: ETH/USD Could Accelerate Above $230 Ethereum Price Analysis: ETH/USD Could
Key Highlights ETH price climbed higher and broke the $222 and $225 resistance levels against the US Dollar. There was a break above a crucial
Ethereum Classic Price Technical Analysis – ETC/USD Bullish above $20 Ethereum Classic Price Technical
Key Highlights Ethereum classic price accelerated gains and broke the $20 resistance level against the US dollar. There are two bullish trend lines
Comments (0)
Add a comment
Comment on