Bitcoin Price (BTC/USD) Targets Fresh Weekly High Above $12.2K
Bitcoin price is trading nicely above the $11,650 and $11,500 supports sharply against the US Dollar.
The price is likely to break the $12,000 resistance and continue higher in the coming sessions.
There is a crucial contracting triangle forming with resistance near $12,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could either rally above $12,000 and $12,200 or it might start a fresh decrease below $11,500.
Bitcoin Cash Just Broke $350 and $400 Seems Imminent: Here’s Why
Monday January 27, 2020
Bitcoin cash price started a strong rally from $300 and it gained more than 15%, whereas BTC is struggling near $8,700. BCH/USD could continue to rise towards $400 in the near term. Bitcoin cash...
The post Bitcoin Cash Just Broke $350 and $400 Seems Imminent: Here’s Why appeared first on 12bitplay - Bitcoin Play.
Bitcoin price is trading with a positive bias above $11,500 against the US Dollar. BTC price is showing positive signs and it could surge above $12,000 and $12,200.
Bitcoin Price Analysis (BTC/USD)
After tagging the $11,200 support, bitcoin price started a decent rise against the US Dollar. The BTC/USD pair climbed higher steadily above the $11,500 and $11,800 resistance levels. Moreover, the pair broke the $12,000 resistance and the 100 hourly simple moving average. However, the price failed to continue above the $12,150 and $12,200 levels. As a result, there was a downside correction below $12,000.
The price traded as low as $11,454 recently and it is currently moving higher. It traded above the $11,650 level plus the 50% Fib retracement level of the recent decline from the $12,167 high to $11,454 low. Moreover, the price broke the $11,800 resistance. However, bitcoin bulls seem to be facing a strong resistance near the $12,000 level. Additionally, the 76.4% Fib retracement level of the recent decline from the $12,167 high to $11,454 low is acting as a resistance.
There is also a crucial contracting triangle forming with resistance near $12,000 on the hourly chart of the BTC/USD pair. Therefore, an upside break above the $12,000 resistance might open the doors for more gains in the near term. The next key resistances are $12,150 and $12,200, above which the price could accelerate above $12,500.
On the other hand, if the price continues to struggle near the $12,000 resistance, there could be a downside reaction. The main support are near $11,650 and $11,500. If there is a break below the $11,500 support, the price could retest the $11,200 support.
Three Reasons Why Ethereum is Weaker Relative to Bitcoin, And is Down 89% From ATH
Friday January 24, 2020
For much of recent years, crypto enthusiasts hoped that Ethereum would take Bitcoin’s place to become the leading blockchain project by market valuation. But heading into 2020, the so-called “flippening” has still not arrived....
The post Three Reasons Why Ethereum is Weaker Relative to Bitcoin, And is Down 89% From ATH appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, bitcoin price is trading with a positive bias above the $11,500 and $11,650 level. Having said that, a proper close above the $12,000 level is needed for upside continuation. In the mentioned bullish case, the price could climb towards the $12,500 and $12,850 levels in the near term.
Hourly MACD – The MACD is currently losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting lower towards the 50 level.
Major Support Levels – $11,650 followed by $11,500.
Major Resistance Levels – $12,000, $12,150 and $12,200.
The post Bitcoin Price (BTC/USD) Targets Fresh Weekly High Above $12.2K appeared first on NewsBTC.
Legendary Trader: Current Crypto Rally Must Hold Or More Serious Correction Is Coming
Friday January 24, 2020
A legendary professional trader who famously called Bitcoin’s drawdown from $20,000 to $3,000 with chilling accuracy is claiming that while things are looking bullish for the first-ever crypto asset, if any of the bullish...
The post Legendary Trader: Current Crypto Rally Must Hold Or More Serious Correction Is Coming appeared first on 12bitplay - Bitcoin Play.