Don’t Look Down: Bitcoin Ready To Re-Test Support Zone At $44K?
Bitcoin faces short term downside price action. The first crypto by market cap has been rejected once again as it tries to reclaim the high area around its current levels and could test its next critical support zone. Related Reading | Full Speed Ahead: Ethereum Turns Bullish In The Long Term At the time of writing, Bitcoin trades at $45,500 with a 2% loss in the last 24-hours and the past week. The benchmark crypto experienced a relief rally into these levels, but bulls have been unable to sustain momentum beyond this period. As Bitcoin trends to the downside, there is around $20....
Related News
Bitcoin price is having trouble making headway past the 50% Fibonacci retracement level, which lines up with several inflection points. The 100 SMA is above the 200 SMA for now but a downward crossover looks ready to take place, signaling a potential turn lower. In addition, stochastic is heading south so bitcoin price might follow suit. If so, price could head back to the previous lows around $407-410. RSI is treading sideways, suggesting that the consolidation could carry on. Bitcoin price appears to have encountered a weak support zone at $412, which might continue to keep further....
Bitcoin price started a steady upward move from the $17,500 support zone against the US Dollar. BTC is currently attempting an upside break and it could rally above $19,000. Bitcoin is trading in a positive zone above the $18,500 and $18,200 support levels. The price is now facing hurdles near the $19,000 level, but it […]
Ethereum is stable above the $2,500 support zone and the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,700. Ethereum is trading in a positive zone above the $2,500 and $2,520 support levels. The price is now trading above $2,600 and the 100 […]
Bitcoin failed to stay above the $46,000 support against the US Dollar. BTC is sliding and might even test the $43,200 support zone. Bitcoin is down over 4% and there was a move below the $46,000 support. The price is trading below $45,500 and the 100 hourly simple moving average. There was a break below a key breakout pattern with support near $46,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline and test the $43,200 support zone in the near term. Bitcoin Price Dips Below Support Bitcoin price started a key decline after it struggled to....
Bitcoin price is gearing up to test the channel support near $417-420 and might be due for another bounce. The 100 SMA is safely above the longer-term 200 SMA so the path of least resistance is to the upside. This confirms that a bounce off support is likely to take place, as this area also coincides with the 200 SMA dynamic inflection point. However, stochastic is on the move down, indicating that bitcoin price might follow suit. RSI is moving sideways so consolidation could be in play. Still, a strong return in buying pressure could lead to another test of the resistance around $425 or....