Key Points Bitcoin price is trading in a tight range above the $6,540 support against the US Dollar. There is a key contracting triangle in place with support at $6,545 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is poised to make the next move either above $6,610 or…
Price analysts and charting experts are conflicted as to whether or not the recent price rise and persisting stability for Bitcoin and the general cryptocurrency markets signals growing strength or represents the calm before the storm. One charting expert believes that the technical damage done to Bitcoin over the past nine months will take several…
Key Points Bitcoin price is placed well above the $6,440 support level against the US Dollar. There is a crucial bullish trend line formed with support at $6,540 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to break the $6,625 and $6,665 resistance levels to trade further…
Key Points 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…
Key Points Bitcoin price surged higher and broke the $6,540-50 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,495 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed well above the $6,580 pivot level and it could accelerate…
Key Points Bitcoin price recovered recently, but it failed to break the $6,540-50 resistance zone against the US Dollar. There is a crucial hurdle formed near $6,540 and two bearish trend lines on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair needs to break the $6,540 resistance and the 100…
Key Points Bitcoin price failed to hold the key support at $6,590 and declined below $6,500 against the US Dollar. There was a break below a bearish pattern with support at $6,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is under pressure and it seems like it could…
While the cryptocurrency markets are sitting well off their year-to-date lows, and Bitcoin is showing increasing stability with major support at $6,000, a Cboe options expert is now claiming that the markets may have yet to hit rock bottom, based on how this rally ultimately ends. As market sentiment is near its all-time low, the…
Key Points Bitcoin price is consolidating above the $6,590 and $6,550 support levels against the US Dollar. There is a short-term declining channel in place with resistance at $6,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has to surpass the $6,720 and $6,750 levels to move towards $6,850…
Key Points Bitcoin price traded higher and cleared the $6,580-6,600 resistance zone against the US Dollar. There is a key bullish trend line in place with support at $6,550 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it could find support near the $6,600…