Bitcoin Price Watch: BTC Turned Sell On Rallies Near $3,400

Bitcoin price declined further and traded towards the $3,320 support level against the US Dollar.
There is a key connecting bearish trend line formed with resistance at $3,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could correct higher, but it is likely to face sellers near $3,375 and $3,400.

Bitcoin Bulls Constantly Exhaust Kraken’s Liquidity Pool: CEO
Monday November 11, 2019

Bitcoin bulls are constantly exhausting the US dollar reserve pool for opening leveraged Long positions, revealed Jesse Powell of Kraken – a US-based cryptocurrency exchange. The chief executive officer told Youtuber Ivan on Tech...

The post Bitcoin Bulls Constantly Exhaust Kraken’s Liquidity Pool: CEO appeared first on 12bitplay - Bitcoin Play.

Bitcoin price extended losses below the $3,350 support against the US Dollar. BTC might attempt a recovery, but sellers are likely to defend gains above the $3,400 resistance.
Bitcoin Price Analysis
Yesterday, we saw a major decline below the $3,400 support in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,350 support and traded close to the $3,320 level. A new weekly low was formed at $3,338 and the price settled well below the 100 hourly simple moving average. Later, the price started consolidating gains and corrected above the $3,350 level. There was a break above the 23.6% Fib retracement level of the recent drop from the $3,445 swing high to $3,338 low. However, the upward move was capped by the $3,375 resistance levels.
Besides, there are many hurdles for buyers near the $3,400 and $3,420 levels. There is also a key connecting bearish trend line formed with resistance at $3,400 on the hourly chart of the BTC/USD pair. The trend line coincides with the 50% Fib retracement level of the recent drop from the $3,445 swing high to $3,338 low. Moreover, the 100 hourly simple moving average is near the trend line and the $3,410 level. Therefore, upsides from the current levels are likely to face sellers near $3,375 and $3,400.

Is Bitcoin Really Doomed? Analysts Skeptical of Bear Bias After $400 Drop
Saturday November 09, 2019

As you are likely aware, Bitcoin (BTC) hasn’t done too well over the past two-odd days. Since Friday, the cryptocurrency has shed 6% of its value, tanking from $9,250 to $8,700 in a strong...

The post Is Bitcoin Really Doomed? Analysts Skeptical of Bear Bias After $400 Drop appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, bitcoin price is trading in a bearish zone below the $3,400 resistance. Only a daily close above $3,400 and $3,420 could open the doors for more gains. On the downside, the main support are $3,320 and $3,300.
Technical indicators
Hourly MACD – The MACD moved back in the bullish, but it may dive back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently, but it failed to move above the 50 level.
Major Support Level – $3,320
Major Resistance Level – $3,400
The post Bitcoin Price Watch: BTC Turned Sell On Rallies Near $3,400 appeared first on NewsBTC.

Mining is Back in the Game with Online Simulator RollerCoin
Tuesday November 12, 2019

Hardly any facet of real life has not yet been reflected by simulator games. Widely ranged, from extra-popular The Sims to realty tycoons and trading simulators, they aim to help users train their skills...

The post Mining is Back in the Game with Online Simulator RollerCoin appeared first on 12bitplay - Bitcoin Play.

You may also like...