Bitcoin Price (BTC) Approaching Next Break, $10,250 Holds Key

Bitcoin price is currently consolidating above the $10,300 level against the US Dollar.
The price seems to be struggling to break the $10,400 and $10,500 resistance levels.
There is a breakout pattern forming with resistance near $10,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could either climb above $10,400 or it might start a fresh decline below $10,250.

Can Block Reward Halving Save Bitcoin From Another Bear Market?
Wednesday October 16, 2019

The pressure appears to be mounting again for Bitcoin. A couple of months ago they were saying ‘you’ll never get another opportunity to buy four figure BTC’, and today it is looking like dumping...

The post Can Block Reward Halving Save Bitcoin From Another Bear Market? appeared first on 12bitplay - Bitcoin Play.

Bitcoin price is holding an important support near $10,300 against the US Dollar. BTC could rise steadily towards $10,500 as long as it is above $10,250 and $10,300.
Bitcoin Price Analysis
Recently, bitcoin struggled to gain momentum above the $10,400 resistance area against the US Dollar. The last swing high was formed near $10,437 before the price started a downside correction. On the other hand, there was a solid upward move in Ethereum above the $185 and $186 resistance levels. At the outset, BTC price is trading well below the $10,400 resistance level.
The last swing low was near $10,270 and recently the price corrected higher. It broke the $10,320 and $10,350 levels, plus remained well above the 100 hourly simple moving average. Moreover, there was a break above the 50% Fib retracement level of the recent decline from the $10,437 high to $10,270 low. However, the upward move was capped by the $10,375 level.
It seems like the 61.8% Fib retracement level of the recent decline from the $10,437 high to $10,270 low is acting as a hurdles. More importantly, there is a breakout pattern forming with resistance near $10,400 on the hourly chart of the BTC/USD pair. If bitcoin breaks the trend line support near $10,300 and the 100 hourly SMA, there could be a downside extension. An immediate support is near the $10,250 level, below which the price could head towards $10,000.
Conversely, if there is an upside break above $10,400, the price could start another rise. The next major resistances are near $10,440 and $10,500. If the bulls remain in action above $10,500, the price could start a strong upward move above the $10,550 and $10,600 levels.

Ethereum (ETH) Dives To $170, Is $160 Next Bear Target?
Thursday October 17, 2019

Ethereum price extended its decline and broke the $175 support area against the US Dollar. Bitcoin price is also down more than 3% and it broke the $8,000 support area. Yesterday’s highlighted key bearish...

The post Ethereum (ETH) Dives To $170, Is $160 Next Bear Target? appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, bitcoin price is clearly preparing for the next break either above $10,400 or below $10,250. The current price action suggests that the price could rise steadily towards $10,500 as long as it is above the 100 hourly SMA. If not, there are chances of a fresh drop towards the $10,000 support area.
Technical indicators:
Hourly MACD – The MACD is slowly moving back into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is moving higher towards the 50 level.
Major Support Levels – $10,300 followed by $10,250.
Major Resistance Levels – $10,400, $10,440 and $10,500.
The post Bitcoin Price (BTC) Approaching Next Break, $10,250 Holds Key appeared first on NewsBTC.

Tor Browser Malware May Have Stolen Users’ Bitcoin For Years
Friday October 18, 2019

Researchers have identified malware associated with an unofficial version of the Tor Browser. Evidence suggests that the covert software has been tricking users into sending Bitcoin to addresses under the control of scammers. The...

The post Tor Browser Malware May Have Stolen Users’ Bitcoin For Years appeared first on 12bitplay - Bitcoin Play.

You may also like...