$9,500: Bitcoin Bulls Aim Big After Recent Surge Above $8,500
Bitcoin found a strong buying interest above $8,200, resulting in a fresh increase above $8,500. BTC price is currently above $8,600 and the bulls seem to be eyeing a break above $8,800 and $9,000.
‘I Will Use Bitcoin SV to Buy Drugs,’ Junkie Dares Abusive Craig Wright
Monday February 24, 2020
Craig Wright‘s efforts to “weed out” drug users from his pet blockchain project, Bitcoin SV, is meeting resistance in a new kind of challengers. An anonymous person took Reddit to dare Mr. Wright that...
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Bitcoin price is currently rising and showing positive signs above $8,500 against the US Dollar.
The bulls seem to be in control above the $8,400 and $8,500 support levels.
There was a break above a major bearish trend line with resistance near $8,360 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to accelerate towards $9,200 if it clears the $8,800 resistance area.
Economist: This Strange Occurrence Suggests the Bitcoin Bottom is In
Saturday February 22, 2020
Bitcoin’s unprecedented flash crash seen earlier this week has not proved to be as bearish as it was initially thought to be, as the crypto has now been able to find some solid support...
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Bitcoin Price Is Rising Again
In yesterday’s weekly analysis using the daily chart, we discussed the importance of the $8,200 and $8,000 support levels for bitcoin. It seems like the $8,200 level played well, resulting in a fresh upward move in BTC price above the $8,400 resistance.
A decent support base is formed near the $8,280 level and the price is now trading well above the 100 hourly simple moving average. It surpassed the 50% Fib retracement level of the last major decline from the $8,793 high to $8,214 low.
Moreover, there was a break above a major bearish trend line with resistance near $8,360 on the hourly chart of the BTC/USD pair. The pair is now trading nicely above the $8,500 and $8,600 resistance levels.
An immediate resistance is near the $8,660 level. Besides, the 76.4% Fib retracement level of the last major decline from the $8,793 high to $8,214 low is near the $8,660 area.
A successful break above the $8,660 resistance could initiate a solid upward move above the $8,800 resistance area. In the mentioned case, bitcoin is likely to grind higher towards the $9,200 resistance. The last line of defense for the bears may perhaps be near the $9,500 level.
BTC Might Present Buying Opportunity
If BTC price corrects lower from the $8,660 resistance, it could find support near the $8,600 level. The main support is now near the $8,500 level (the recent breakout zone).
Any further losses might lead bitcoin price towards the $8,400 support or the 100 hourly simple moving average. The overall price action is positive and it seems like BTC could continue to rise towards the $8,800 and $9,200 resistance levels in the near term.
Hourly MACD – The MACD is slowly losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting lower from the 75 level.
Major Support Levels – $8,500 followed by $8,400.
Major Resistance Levels – $8,660, $8,800 and $9,200. The post appeared first on NewsBTC.
Analyst: Ripple’s XRP Could Fall by Another 25% Due to This Reason
Tuesday February 25, 2020
XRP, the native token of the Ripple blockchain, has slipped by more than 23 percent from its year-to-date high of $0.34. And according to a popular analyst, the token is likely to fall further....
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