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…

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…

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…

Bitcoin Price Watch: BTC/USD Turned Bullish Above $6,400

Key Points Bitcoin price surged higher recently and broke the $6,350 and $6,375 resistances against the US Dollar. There was a break above a major contracting triangle with resistance at $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded towards the $6,475 level and it is currently correcting lower. Bitcoin price moved into a bullish zone above $6,375 against the US Dollar. BTC/USD is correcting lower, but it is likely to find support near $6,380 or $6,375. Bitcoin Price Analysis After testing the…

Bitcoin Price Watch: BTC/USD Targets Fresh High Above $6,400

Key Points Bitcoin price gained traction and moved above the $6,335 and $6,350 resistances against the US Dollar. There was a break above a key bearish trend line with resistance at $6,345 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently correcting lower, but there are decent supports near $6,345 and $6,325. Bitcoin price is gaining upside momentum against the US Dollar. BTC/USD could dip a few points before it climbs above the $6,380 and $6,400 levels. Bitcoin Price Analysis Yesterday, we saw…

Bitcoin (BTC) Price Watch: Aiming for $7,000 Next?

Bitcoin Price Key Highlights Bitcoin price is gaining traction on it bounce off the channel support on its 4-hour time frame. A move to the next upside targets might be in the works and the Fibonacci extension tool marks these. Technical indicators are hinting at weakening bullish momentum, though. Bitcoin price looks ready to resume its climb and might aim for these upside targets marked by the Fib tool. Technical Indicators Signals The 100 SMA seems to be crossing below the longer-term 200 SMA to indicate that bearish pressure might…