Key Points Bitcoin price blasted higher recently against the US Dollar, but traded right at a major resistance area. There is a crucial connecting resistance trend line formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which acted as a barrier or the buyers. The price is currently showing a lot of positive signs, and people may now look to buy BTC. Bitcoin price jumped higher during the past few sessions versus the US Dollar, and also showing a lot of bullish signs on the 4-hours chart. Bitcoin Price Upside Hurdle Bitcoin price after trading in a range for quite some time against the US Dollar found buyers and started to move higher. There was a nice upside thrust, which took the price towards the $600 level. The buyers even managed to break the…
Key Points Bitcoin price moved lower this past week and remained under a lot of bearish pressure versus the US Dollar. There was a crucial support trend line formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which was broken during the downside move. The price traded as low as $560 and it looks like the bulls may continue to struggle. Bitcoin price weakened a lot during the past week against the USD. Going forward, it may continue to trade lower towards $550. Bitcoin Price Resistance Bitcoin price broke down this past week against the US Dollar, and posted losses. During the downside move, the BTC/USD pair broke a couple of important support levels including $575. Moreover, there was a crucial support trend line formed on the 4-hours chart (data…
Key Points Bitcoin price after trading in a range for some time against the US Dollar started moving higher. There was a crucial contracting triangle pattern formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, which was broken during the recent upside. The price is also above the 100 simple moving average, which is a positive sign for buyers. Bitcoin price broke a major resistance zone versus the US Dollar, and currently looks poised for more gains in the near term. Bitcoin Price Buy Dips Bitcoin price earlier this past week traded a few points lower against the US Dollar. Later, it started trading in a range. While trading in a range there was a crucial contracting triangle pattern formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD….
Key Points Bitcoin price recovered a few points recently against the US Dollar, but later found resistance near $590. There was a crucial contracting triangle pattern formed on the hourly chart (data feed from SimpleFX) of BTC/USD, which was cleared by sellers for a downside move. An hourly close below it could ignite further losses in BTC/USD in the short term. Bitcoin price broke a major support area against the US Dollar, and if the current trend remains intact, there can be more losses in BTC/USD. Bitcoin Price Sell Bitcoin price after trading as low as $578 against the US Dollar recovered and corrected higher to trade near $590 where it found sellers. The price traded close to the 50% Fib retracement level of the last drop from the $602 high to $578 low. It…
Key Points Bitcoin price after trading close to the $682-84 levels against the US Dollar found sellers, and moved down. There were a couple of bullish trend lines formed on the 4-hours chart (data feed from Bitstamp) of BTC/USD, which were broken during the downside move. The price is also below the 100 simple moving average on the 4-hours chart, calling for more losses in the short term. Bitcoin price failed to trade towards $700 against the US Dollar, and it looks like the price is setting up for a decline moving ahead. Bitcoin Price Sell? Bitcoin price this past week traded towards the $685 level against the US Dollar, but failed to retain the bullish bias, and started to trade down. It broke the 23.6% Fib retracement level of the last wave from the $606 low…