Bitcoin Price Weekly Analysis: BTC/USD Remains in Uptrend Above $6,400

Key Points

Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis
Monday November 18, 2019

The total crypto market cap is following a bearish pattern below the $230.0B level. Bitcoin price is facing an increase in selling pressure below $8,600 and $8,500. EOS price is currently struggling to stay...

The post Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis appeared first on 12bitplay - Bitcoin Play.

Bitcoin price failed to break the $6,800 resistance recently and declined against the US Dollar.
There is a major bullish trend line in place with support at $6,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair must stay above the $6,400 and $6,380 support levels to remain in a positive zone.

US Crypto Investors May Need To Consider Amending Past Tax Returns
Thursday November 14, 2019

Tax law surrounding crypto assets is currently convoluted and confusing, even despite Congress demanding the IRS clarify the law, and the IRS taking steps to provide more clarity to crypto investors in the United...

The post US Crypto Investors May Need To Consider Amending Past Tax Returns appeared first on 12bitplay - Bitcoin Play.

Bitcoin price is holding key supports against the US Dollar. BTC/USD could move higher once again as long as it is above the $6,400 support.
Bitcoin Price Analysis
This past week, bitcoin price made a nice upside move from the $6,300-6,310 zone against the US Dollar. The BTC/USD pair climbed higher and broke the $6,500 and $6,700 resistance levels. There was also a close above the $6,500 level and the 100 simple moving average (4-hours). However, the upside move was capped by the $8,000 resistance. The price declined and moved below the 50% Fib retracement level of the last wave from the $6,317 low to $6,800 high.
Later, buyers appeared near the $6,450 level and the 100 SMA. Moreover, there was no test of the 76.4% Fib retracement level of the last wave from the $6,317 low to $6,800 high. On the downside, there is a strong support formed near the $6,400 and $6,380 levels. There is also a major bullish trend line in place with support at $6,400 on the 4-hours chart of the BTC/USD pair. Therefore, if the price dips from the current levels, the $6,400 support could act as a strong buy zone.

Crypto Market Cap And Bitcoin Under Pressure: BCH, BNB, EOS, TRX Analysis
Wednesday November 13, 2019

The total crypto market cap is struggling to recover above the $235.0B resistance area. Bitcoin price is now trading well below the $9,000 and $8,960 resistance levels. EOS price is declining and it seems...

The post Crypto Market Cap And Bitcoin Under Pressure: BCH, BNB, EOS, TRX Analysis appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, BTC price is placed nicely above the trend line and the $6,400 support. On the upside, buyers need to push the price above the $6,680 and $6,800 resistance levels. The main resistance for a larger upward move is at $7,000.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is slowly moving in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI is just below the 50 level.
Major Support Level – $6,400
Major Resistance Level – $6,800
The post Bitcoin Price Weekly Analysis: BTC/USD Remains in Uptrend Above $6,400 appeared first on NewsBTC.

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