Bitcoin Price Watch: BTC Could Correct Lower Before Fresh Rally
Bitcoin price rallied towards the $3,750 level and later started a downside correction against the US Dollar.
There is a key bearish trend line formed with resistance at $3,640 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is likely to correct lower towards the $3,550 or $3,500 support levels before a fresh rally.
Altcoins Annihilated In Massive $30 Billion Crypto Market Mauling
Thursday August 15, 2019
A bad day for Bitcoin usually spells a nightmare for the rest of the cryptocurrencies. That appears to be exactly what is happening this Thursday on crypto markets as BTC falls to four figures...
The post Altcoins Annihilated In Massive $30 Billion Crypto Market Mauling appeared first on 12bitplay - Bitcoin Play.
Bitcoin price climbed higher and settled above the $3,500 resistance against the US Dollar. BTC is currently correcting lower, but dips remain supported above the 100 hourly SMA.
Bitcoin Price Analysis
In the weekly analysis, we saw a solid upward move above $3,500 in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,600 and $3,650 resistance levels. A fresh yearly high was formed at $3,745 and the price settled above the 100 hourly simple moving average. Later, the price started a downside correction and traded below the $3,700 and $3,650 levels. There was a break below the 23.6% Fib retracement level of the last wave from the $3,341 low to $3,745 high.
At the moment, the $3,580 level is acting as a strong support. If there is a downside break, the price could test the $3,550 support level. It also coincides with the 50% Fib retracement level of the last wave from the $3,341 low to $3,745 high. More importantly, the 100 hourly simple moving average is positioned at $3,525 to act as a strong support. On the upside, an initial resistance is near the $3,625 level. There is also a key bearish trend line formed with resistance at $3,640 on the hourly chart of the BTC/USD pair. The pair must break the trend line and $3,650 for a fresh upward move.
Ethereum Dives Towards $200 as Sentiment Surrounding ETH Grows Negative
Saturday August 10, 2019
Bitcoin’s recent ascent has proven to be a negative thing for the aggregated crypto markets, as it has led most altcoins – including major ones like Ethereum (ETH) – to plummet as BTC continues...
The post Ethereum Dives Towards $200 as Sentiment Surrounding ETH Grows Negative appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, bitcoin price is showing signs of a downside correction below $3,600. However, as long as the price is above the $3,550 and $3,500 support levels, buyers remain in action.
Hourly MACD – The MACD moved back in the bearish zone, with a negative angle.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level, with a bearish bias.
Major Support Level – $3,550
Major Resistance Level – $3,650
The post Bitcoin Price Watch: BTC Could Correct Lower Before Fresh Rally appeared first on NewsBTC.
Did Chinese Ponzi Scam Cause Bitcoin To Tank 10%?
Thursday August 15, 2019
For the umpteenth time Bitcoin has dumped double digits in a single day … again. Yet the FUD and panic still pervades the scene like a bleak cloud of despair that will be blown...