Bitcoin (BTC) Price Springs Up: Bulls Now Target $8,000
There was a sharp upward move above $6,800 in bitcoin price against the US Dollar.
The price is up more than 25% in the past few days and it tagged the $7,450 level recently.
There is a major bullish trend line in place with support at $6,750 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair remains well supported and it seems like the bulls are now aiming $7,800 or $8,000.
Bitcoin and the entire crypto markets have faced increased selling pressure today after experiencing a short bout of sideways trading as BTC struggled to decisively move into the $8,000 region. Although today’s drop has...
Bitcoin price rallied significantly above $6,800 and $7,000 against the US Dollar. BTC seems to be following a nasty uptrend and it could even test $7,800 or $8,000 in the coming sessions.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price started a strong upward move after it broke the $5,800 resistance against the US Dollar. The BTC/USD pair surpassed many hurdles near $6,000, $6,200 and $6,400. The recent upward move was such that the price even broke the key $6,850 and $7,000 resistance levels. Finally, there was an upsurge above $7,200 and the price settled well above the 100 simple moving average (4-hours). The price traded to a new 2019 high at $7,457 and recently corrected lower.
It traded below the $7,200 level, and the 23.6% Fib retracement level of the recent wave from the $6,238 swing low to $7,457 high. The price even spiked below the $7,000 level, but the $6,850 level acted as a support. BTC price tagged the 50% Fib retracement level of the recent wave from the $6,238 swing low to $7,457 high. There was a sharp bounce after the price tagged the $6,850 level. There is also a major bullish trend line in place with support at $6,750 on the 4-hours chart of the BTC/USD pair.
The pair is back above the $7,000 level and it seems to be preparing for more gains. An immediate resistance is at $7,220, above which the price may test the $7,350 level. Any further upsides could take the price towards the $7,500 resistance level. Above $7,500, the next key target for the bulls could be $7,800 or even $8,000.
Strong Barriers at $8,500, But Bitcoin (BTC) Bulls Are Steadfast
Tuesday May 21, 2019
Bitcoin (BTC) stable and ranging The US SEC delays VanEck Bitcoin ETF decision date by another three months Bulls are resilience, and after shaking off the $1,000 drop of May 19, Bitcoin is stable...
The post Strong Barriers at $8,500, But Bitcoin (BTC) Bulls Are Steadfast appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, bitcoin price is clearly in a strong uptrend above $6,850. In the short term, there could be swing moves towards $6,850 or even $6,600. However, the bulls remain in control and they are likely to aim a new high above $7,500 in the coming sessions. It would be interesting to see how the market reacts if the price reaches $8,000 in the next 24-48 hours.
4 hours MACD – The MACD for BTC/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently placed heavily into the overbought zone.
Major Support Level – $6,850
Major Resistance Level – $7,500
The post Bitcoin (BTC) Price Springs Up: Bulls Now Target $8,000 appeared first on NewsBTC.
Coinbase’s Weekly Ethereum (ETH) Volume Up 28% Could Be A Bullish Hint
Tuesday May 21, 2019
Ethereum (ETH) up 28.1 percent Trading volumes surge ahead of Istanbul hard fork and Serenity Serenity is supportive of prices. So far, Ethereum (ETH) is up 28.1 percent. Even so, there is room for...
The post Coinbase’s Weekly Ethereum (ETH) Volume Up 28% Could Be A Bullish Hint appeared first on 12bitplay - Bitcoin Play.