Bitcoin Struggles Below Resistance While Fibonacci Support Comes Into Focus
Bitcoin continues to face strong resistance as bulls struggle to reclaim higher price levels and restore upward momentum. With the market failing to break key resistance zones, attention is now shifting toward major Fibonacci support areas, where buyers could attempt to stabilize the current decline and prevent a deeper correction. Recovery Hopes Fade Unless Resistance Levels Break After failing to break above the $82,885 resistance peak, Bitcoin is experiencing selling pressure. According to crypto analyst Kamile Uray, the 4-hour chart still points to ongoing downside risk, with price....
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The market drove the price of Bitcoin downwards yesterday, until it touched the $265 line and then started rising until reaching $270 at the time of writing of this article. By drawing a trend line with between the high reached on the 12th of November, 2011 ($432) and the low reached on the 4th of January ($257) and plotting Fibonacci retracements on the below chart, we can conclude the following: If the price fell below $255 which is the support point and the low reached on the 4th of January, the market is likely to drive the price to decline even more to $201, which is the next support....
Ethereum Price Key Highlights. Ethereum's price is still in the middle of its corrective wave, pulling up from its latest dive from 0.0024 to 0.0018 BTC. Applying the Fibonacci retracement tool on the latest swing high and low shows confluence in some of the levels, which might be strong enough to hold as resistance. Ethereum's price could resume its selloff once the Fibonacci levels are able to hold as resistance and keep further gains in check. Line in the Sand. At the moment, Ethereum's price appears to be moving past the 38.2% Fibonacci retracement level at 0.00205 BTC, making its way....
The price of Bitcoin started moving sideways today, after yesterday's rise, but the buying trading volume is keeping the price well above the $200 resistance point throughout the day. By drawing the Fibonacci retracement fan along a trend line that extends from the high recorded in November 2013 and the low recorded earlier this month (look at the below chart), we can easily identify resistance and support points at this stage. By observing the 1 hour (BTC/USD) chart from Bitfinex on tradingview.com and extending the Fibonacci fans from the 1 daily chart (look at the below chart), we can....
Bitcoin continues to show resilience despite mounting bearish pressure below the critical $78,800 resistance zone. While short-term volatility and repeated rejections have slowed bullish momentum, the broader market structure still indicates an active uptrend, as buyers continue to defend key support levels and position for another potential rebound. BTC Finds New Support Around The $77,000 Region In a recent market assessment, Ultimae highlights that while Bitcoin briefly dipped below the $78,700 support level, the $77,000 zone is currently functioning as the primary defensive floor.....
Bitcoin price broke above its 2019 high, and after that, took off another $5,000. The reason why the level was so critical to confirming a reversal back into a bull market, was due to the resistance residing at the golden ratio – based on the Fibonacci sequence. Today, to celebrate both Fibonacci Day and Bitcoin’s […]