Bitcoin (BTC) Price Watch: Nearby Upside Targets
Bitcoin Price Key Highlights
Bitcoin And Crypto Market Rebound Facing Hurdles: BCH, EOS, TRX, ADA Analysis
Monday October 21, 2019
The total crypto market cap is currently correcting higher, but facing hurdles near $215.0B. Bitcoin price jumped more than 5% and it is trading above the $8,200 resistance area. EOS price is slowly moving...
The post Bitcoin And Crypto Market Rebound Facing Hurdles: BCH, EOS, TRX, ADA Analysis appeared first on 12bitplay - Bitcoin Play.
Bitcoin price continues to hover above its ascending channel support on the 4-hour time frame.
Price appears to be consolidating after the bounce but remains on track towards testing the next upside targets.
The 38.2% extension level seems to have kept some gains in check, possibly sending price back down to support once more.
Bitcoin To See 150% Rally to $20,000 Within Next 18 Months: Prominent Investor
Wednesday October 16, 2019
Over the past few months, the price of Bitcoin (BTC) and other cryptocurrencies have been heavily languishing. Since the $14,000 peak established in June, BTC has collapsed by nearly 50%, falling all the way...
The post Bitcoin To See 150% Rally to $20,000 Within Next 18 Months: Prominent Investor appeared first on 12bitplay - Bitcoin Play.
Bitcoin price is finding support at the bottom of its rising channel but has hit a roadblock on the first Fib extension.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA on this time frame to signal that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. Then again, the gap between the moving averages has narrowed to indicate a possible bullish crossover and return in bullish momentum.
Stochastic is still on the move up to indicate that buyers have the upper hand, but the oscillator is approaching overbought levels to reflect exhaustion. Turning back down could mean a pickup in selling pressure and a dip back to the channel support near $6,500. RSI continues to cruise sideways to reflect consolidation but has been on the move up as well.
BTC/USD Chart from TradingView
A continuation of the climb could take bitcoin price to the 50% extension at the mid-channel area of interest or $6,700 mark. The 78.6% extension lines up with the top of the channel and the swing high, serving as a potential take-profit level as well. Stronger bullish momentum could take bitcoin price past the channel top and onto the full extension at $6,956.30.
A handful of analysts are calling a bottom on bitcoin, likely setting the tone for a strong rebound before the end of the year. A survey by Fundstrat revealed that 54% of institutional traders are optimistic about the digital currency’s prospects, although some say that it won’t reach $9,000 by December.
The post Bitcoin (BTC) Price Watch: Nearby Upside Targets appeared first on NewsBTC.
Bitcoin Breaks Below Key Support; Movement to $7,000 May Be Inbound
Wednesday October 16, 2019
Bitcoin (BTC) and the aggregated crypto markets have incurred some bearish momentum over the past several hours, as sellers have pushed the cryptocurrency’s price below a key support level, which could mean significantly further...
The post Bitcoin Breaks Below Key Support; Movement to $7,000 May Be Inbound appeared first on 12bitplay - Bitcoin Play.