Bitcoin (BTC) Price Defies Gravity With Upsurge, Bulls Aiming $6.5K
Bitcoin price was unfazed and it recently broke the $6,200 resistance level against the US Dollar.
The price even broke the $6,300 level and it seems like the bulls are now aiming $6,500.
There is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could find a strong buying interest if it corrects lower towards $6,100 or $6,000.
Blockchain and Crypto: Binance CEO Has High Hopes for the Future
Friday November 15, 2019
Changpeng “CZ” Zhao, blockchain expert and CEO of leading cryptocurrency exchange Binance, is more than optimistic about the future of blockchain and digital currency, saying the industry will only get bigger over the next...
The post Blockchain and Crypto: Binance CEO Has High Hopes for the Future appeared first on 12bitplay - Bitcoin Play.
Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. BTC remains in a strong uptrend and it seems like the bulls are now aiming a test of $6,400 or even $6,500.
Bitcoin Price Analysis
This week, bitcoin price overcame all hurdles and rallied above $6,000 and $6,200 against the US Dollar. The BTC/USD pair gained bullish momentum after it settled above $6,100 and the 100 hourly simple moving average. Recently, it broke a bullish flag pattern with resistance near $6,040 on the hourly chart to start a strong upward move. As a result, the bulls pushed the price above the $6,250 and $6,300 resistance levels. A new 2019 high was formed at $6,315 and the price is likely to extend gains.
An initial support is near the $6,230 level, and the 23.6% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. If there is a downside extension, the next key support could be $6,140. It represents the 50% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. More importantly, there is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC/USD pair. Moreover, the previous resistance area near $6,050 is likely to act as a strong buy zone if the price corrects lower.
Besides, the price is now well above the $6,000 pivot level and the bullish 100 hourly SMA. Therefore, there are chances of more upsides above the $6,300 and $6,350 levels. The next main hurdle is near the $6,400 level, above which the price could rally towards the $6,500 level.
Par for the Course: Bitcoin Difficulty Drop Actually a Bullish Sign
Wednesday November 13, 2019
Bitcoin has once again found itself caught within a bout of consolidation as it ranges sideways above its key near-term support level at $8,700. Despite BTC’s recent sell-off that sent it reeling below $9,000,...
The post Par for the Course: Bitcoin Difficulty Drop Actually a Bullish Sign appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, bitcoin price is gaining bullish momentum above $6,200 and $6,300, with no major bearish sign. In the short term, there could be a few bearish moves, but dips remain supported near the $6,200 and $6,100 levels. Only a daily close below $6,000 and the 100 hourly SMA could start a substantial downside correction.
Hourly MACD – The MACD is currently placed heavily in the bullish zone, with positive signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting lower in the overbought zone.
Major Support Levels – $6,200 followed by $6,140.
Major Resistance Levels – $6,300, $6,400 and $6,500.
The post Bitcoin (BTC) Price Defies Gravity With Upsurge, Bulls Aiming $6.5K appeared first on NewsBTC.
Ripple (XRP) Price Primed For Additional Losses, $0.2450 Next?
Friday November 15, 2019
Ripple price is following a downtrend below the $0.2700 support area against the US dollar. The price is currently trading near the $0.2620 support and it could continue to decline. This week’s crucial bearish...
The post Ripple (XRP) Price Primed For Additional Losses, $0.2450 Next? appeared first on 12bitplay - Bitcoin Play.