Bitcoin Rebounds Nicely, BTC Bulls Sighting Next Crucial Break

After a nasty upward move, bitcoin price corrected below $12,000 against the US Dollar.
The price towards the $10,400 support and recently started a fresh increase above $11,500.
There is a major contracting triangle forming with resistance near $12,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to break to the upside above the $12,400, $12,500 and $12,800 resistance levels.

Crypto Market And Bitcoin Approaching Resistance: ETC, BCH, EOS, TRX Analysis
Friday August 23, 2019

The total crypto market cap is currently correcting higher towards the $268.0-$270.0B resistance. Bitcoin price is also approaching towards a major resistance near the $10,200 and $10,250 levels. EOS price recovered more than 5%...

The post Crypto Market And Bitcoin Approaching Resistance: ETC, BCH, EOS, TRX Analysis appeared first on 12bitplay - Bitcoin Play.

Bitcoin price is showing a lot of positive signs above $11,600 against the US Dollar. BTC could continue to gain momentum once it clears the key $12,500 resistance area.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price traded higher sharply above the $11,000 and $12,000 resistances against the US Dollar. The BTC/USD pair even gained strength above the $13,000 level and traded close to the $14,000 level. A new 2019 high was formed near $13,875 and later the price started a sharp downside correction. There was a sharp dip below the $12,000 and $11,000 level.
Moreover, the price traded close to the $10,000 level and the 100 simple moving average (4-hours). Finally, the $10,400 level acted as a strong support and the price stayed well above the 100 SMA. A swing low was formed near $10,310 and the price recently started a fresh increase. It traded above the 50% Fib retracement level of the recent decline from the $13,875 high to $10,310 low.
In addition, bitcoin price managed to settle above the $12,000 level. More importantly, there is a major contracting triangle forming with resistance near $12,300 on the 4-hours chart of the BTC/USD pair. The 61.8% Fib retracement level of the recent decline from the $13,875 high to $10,310 low is near the $12,500 level. Therefore, an upside break above the $12,400 and $12,500 levels is needed for more gains.
Once there is a close above the $12,500 level, the price may accelerate above the $12,800 and $13,000 levels. The next key resistance is near the $13,300 level, followed by $13,650.
On the downside, there is a strong support forming near the $12,000 level. If the price fails to break the $12,500 resistance, it could correct lower. An immediate support is near the $11,600 level, below which bitcoin could trade towards the $11,200 support.

Bitcoin Reaches “Do-Or-Die” Level After Overnight Pump
Monday August 19, 2019

After posting a strong recovery from its recent lows of $9,500, Bitcoin (BTC) has been able to further extend its upwards momentum and is now nearing the next key price hurdle that could determine...

The post Bitcoin Reaches “Do-Or-Die” Level After Overnight Pump appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, bitcoin price is clearly preparing for the next break either above $12,500 or below $12,000. There are high chances of an upside break above $12,500. If not, the price could retest $11,200 before a fresh increase.
Technical indicators
4 hours MACD – The MACD for BTC/USD is slowly moving back in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently just above the 50 level.
Major Support Level – $12,000
Major Resistance Level – $12,500
The post Bitcoin Rebounds Nicely, BTC Bulls Sighting Next Crucial Break appeared first on NewsBTC.

Ripple Price (XRP) Eyes Fresh Increase While Bitcoin Rallies
Tuesday August 20, 2019

Ripple price is facing a strong resistance near the $0.2900 and $0.2920 levels against the US dollar. Bitcoin price rallied recently and even broke the $10,600 and $10,800 resistance levels. Yesterday’s highlighted bullish trend...

The post Ripple Price (XRP) Eyes Fresh Increase While Bitcoin Rallies appeared first on 12bitplay - Bitcoin Play.

You may also like...