Bitcoin Price Watch: BTC/USD Remains Sell On Rallies Near 100 SMA

Key Points Bitcoin price declined further and traded below the $6,275 support level against the US Dollar. There are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,250 support in the near term. Bitcoin price is placed in a bearish zone against the US Dollar. BTC/USD could recover, but upsides are likely to be capped around the $6,340 level. Bitcoin Price Analysis During the…

BTC/USD Breakout above Resistance Trend Line, Buyers aim $7,200

Latest Bitcoin News Thing is, Bitcoin is just more than a medium of exchange. In 10 short years, the world’s most valuable coin has evolved from being a Cypherpunk thing to a medium of exchange and now it is a solid store of value. It has been so thanks to last year’s super rally. Bitcoin position as a store of value has been also been strengthened by hyperinflation in countries as Venezuela and embargoes on countries as Iran. Also Read: Marc Andreessen: Bitcoin Is a “Very Important Idea” In Venezuela,…

Bitcoin Price Watch: BTC/USD Could Tumble Below $6,250

Key Points Bitcoin price extended losses and traded to a new weekly low at $6,261 against the US Dollar. There is a major bearish trend line in place with resistance at $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is at a risk of more declines below the $6,275 and $6,260 support levels in the near term. Bitcoin price is currently in a downtrend below $6,350 against the US Dollar. BTC/USD could tumble once there is a break and close below the $6,250…

Bitcoin Price Watch: BTC/USD Targets Fresh Weekly Lows

Key Points Bitcoin price declined recently below the $6,300 support before correcting higher against the US Dollar. There was a break above a connecting bearish trend line with resistance at $6,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is struggling to break the $6,380 resistance and the 100 hourly simple moving average. Bitcoin price is trading in a bearish zone below $6,400 against the US Dollar. BTC/USD could decline further towards the $6,250 or $6,220 level in the near term. Bitcoin Price Analysis…

BTC/USD Increasing Demand ahead of BCH Hard Fork

Aside from regulatory involvement, uncertainty in other blockchains often draws demand for Bitcoin as a store of value. It did happen before and three days before Bitcoin Cash software upgrade, capital could flow into Bitcoin lifting prices above $6,600 igniting short term bulls aiming for $7,200. Latest Bitcoin News Still, Bitcoin Cash is one of the most fluid and valuable coin in the space. Though hash rates and decentralization levels pale in comparison with those of Bitcoin, it is still important to track its development. On Nov 15, a software…

Bitcoin Price Weekly Analysis: BTC/USD Remains At Risk Below $6,300

Key Points Bitcoin price started a downside correction after climbing as high as $6,554 against the US Dollar. There was a break below a major bullish trend line with support at $6,420 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently at a risk of more losses below the $6,300 support area in the near term. Bitcoin price is under pressure below $6,400 against the US Dollar. BTC/USD could decline towards $6,280 or $6,250 if sellers remain in control. Bitcoin Price Analysis This…

Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…

Bitcoin Price Watch: BTC/USD Near Make-or-Break Support Zone

Key Points Bitcoin price declined recently and traded below the $6,470 support level against the US Dollar. There is a significant bullish trend line in place with support at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to bounce back as long as it is above $6,440 and $6,375 in the near term. Bitcoin price corrected lower below $6,500 against the US Dollar. BTC/USD is currently testing a major support at $6,440, which holds the key. Bitcoin Price Analysis Yesterday, we…

Bitcoin Price Watch: BTC/USD Accelerating Gains Toward $6,700

Key Points Bitcoin price traded further higher and broke the $6,515 resistance area against the US Dollar. There was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to accelerate gains above the $6,550 and $6,600 levels in the near term. Bitcoin price is placed nicely above the $6,480 support against the US Dollar. BTC/USD is likely to grind higher towards the $6,700 level in the near term. Bitcoin Price Analysis Yesterday,…

Bitcoin Price Watch: BTC/USD Could Resume Uptrend Above $6,440

Key Points Bitcoin price corrected lower recently after trading as high as $6,472 against the US Dollar. There is a major bullish trend line in place with support at $6,390 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is positioned for the next wave, which could be above the $6,420 resistance. Bitcoin price is trading in a positive zone against the US Dollar. BTC/USD could continue to move higher as long as it is above $6,375 support level. Bitcoin Price Analysis Yesterday, bitcoin price…