• Contact Us
  • Privacy Policy
  • Live Exchange
  • LIVE ICO
  • Shop
Saturday, January 23, 2021
CryptoNewsking.com
Advertisement
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop
No Result
View All Result
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop
No Result
View All Result
CryptoNewsking.com
No Result
View All Result
Home Bitcoin News

Technicals Indicate Bitcoin Bears Are Likely To Protect Upsides Above $10,600

09/22/2020
in Bitcoin News
0
Technicals Indicate Bitcoin Bears Are Likely To Protect Upsides Above $10,600
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Bitcoin price started consolidating losses after a sharp decline to $10,300 against the US Dollar. BTC is likely to face a lot of hurdles near $10,550, $10,600 and $10,650.

  • Bitcoin is slowly recovering higher from the new weekly low at $10,302.
  • The price is still below the $10,550 resistance and the 100 hourly simple moving average.
  • There is a connecting bearish trend line forming with resistance near $10,680 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct higher, but the bears are likely to protect gains above $10,600 in the short-term.

Bitcoin Price is Facing Hurdles

Yesterday, we saw a sharp decline in bitcoin price below the $10,650 and $10,550 support levels against the US Dollar. BTC even settled well below the 100 hourly simple moving average, and traded to a new weekly low near $10,300.

Related articles

Polkadot (DOT) Surges 15%, Why Rally Isn’t Over Yet

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

01/23/2021
Ripple (XRP) Surges 15%, Why The Bulls Are Back In Control

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

01/22/2021

It is currently recovering above the $10,400 level. There was a break above the 23.6% Fib retracement level of the downward move from the $10,990 swing high to $10,300 swing low. However, the previous key support near the $10,550 level is currently acting as a resistance.

It seems like bitcoin bears are likely to remain active if the price climbs above $10,550. The first major resistance is near the $10,650 level. It is close to the 50% Fib retracement level of the downward move from the $10,990 swing high to $10,300 swing low.

Bitcoin price struggling near $10,550. Source: TradingView.com

There is also a connecting bearish trend line forming with resistance near $10,680 on the hourly chart of the BTC/USD pair. To move into a positive zone, the bulls need to overcome selling pressure and push the price above $10,650 and the trend line. The next major resistance above the trend line could be near $11,000.

Fresh Decline in BTC?

If bitcoin fails to recover above the $10,600 and $10,650 levels, it could start a fresh decline. An initial support is near a short-term bullish trend line with support at $10,450 on the same chart.

A downside break below the trend line could open the doors for more losses below $10,400. The next support is near the $10,300 level, below which the bulls might struggle to protect the $10,200 support zone.

Technical indicators:

Hourly MACD – The MACD is likely to move back into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is struggling to stay above the 50 level.

Major Support Levels – $10,450, followed by $10,300.

Major Resistance Levels – $10,550, $10,650 and $10,680.

Credit: Source link

Share76Tweet47

Related Posts

Polkadot (DOT) Surges 15%, Why Rally Isn’t Over Yet

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

01/23/2021
0

Ethereum has seen some notable strength today despite Bitcoin’s lackluster price action This has allowed it to gain some serious...

Ripple (XRP) Surges 15%, Why The Bulls Are Back In Control

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

01/22/2021
0

Ethereum has been trading as a higher beta asset to Bitcoin as of late, closely tracking the benchmark crypto but...

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

01/22/2021
0

Bitcoin price has now pulled back a full $13,000 from 2021 high to low. Yesterday’s massive bearish, red candle is...

Expands to 600 plus ATMs

Expands to 600 plus ATMs

01/22/2021
0

Ever since Bitcoin created a new record, the popular cryptocurrency is in great demand. As the cryptocurrency continues to gain...

An Upcoming Public Sale on Polkastarter Follows e-Money’s Successful DEX Launch

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

01/22/2021
0

Bitcoin has seen some massive momentum throughout the morning that has allowed it to erase a good portion of the...

Load More
  • Trending
  • Comments
  • Latest
Bitcoin whales are moving funds fast – What’s next?

Bitcoin whales are moving funds fast – What’s next?

01/22/2021
Ripple (XRP) Surges 15%, Why The Bulls Are Back In Control

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

01/22/2021
MoonBot Cryptocurrency SCALPING TRADE BOT | Overview

MoonBot Cryptocurrency SCALPING TRADE BOT | Overview

08/09/2019
Surging Demand and Seized Supply Spark Rapid Growth in Tether Gold

Surging Demand and Seized Supply Spark Rapid Growth in Tether Gold

04/02/2020
Bitcoin in jeopardy, Ether briefly breaks records, Biden takes action: Hodler’s Digest

Bitcoin in jeopardy, Ether briefly breaks records, Biden takes action: Hodler’s Digest

01/23/2021
Polkadot (DOT) Surges 15%, Why Rally Isn’t Over Yet

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

01/23/2021
Institutions still predict $100K Bitcoin price

Institutions still predict $100K Bitcoin price

01/23/2021

DeFi surge, rising TVL and new partnerships underpin Ren’s 100% rally

01/23/2021
CryptoNewsking.com

CryptoNewsKing.com is a curated world cryptocurrency news online portal which aims to provide the latest crypto and blockchain related news with real time updates from all around the world.

Donate

Do you like what we offer? Your donation can help us continue to improve the services we offer. Please send your donations to the addresses below. Thank you for your support and may the crypto force be with you.

BTC 

35RWoVxFbnmySWFHtYNV28rU4Hyf5TrTXD

ETH

0x1B35F874152c7d597029007f98f1F2361179034B

LTC

MJ3Cv9NXPt8ZM9x6mDiHGUFpm5yhiNntwT

Subscribe to get more!

  • Contact Us
  • Privacy Policy
  • Live Exchange
  • LIVE ICO
  • Shop

© 2019 CryptoNewsKing.com - All rights reserved

No Result
View All Result
  • Home
  • LIVE UPDATES
    • Live Coin Market Cap
    • Live Exchange
    • LIVE ICO
  • News
    • Crypto News
    • Bitcoin News
    • Ethereum News
    • Blockchain
    • Altcoin News
    • Exchanges News
    • Wallet News
    • Regulation
    • ICO
  • Guide Reviews
    • How to Buy Crypto
    • Bitcoin 101
    • Ethereum 101
    • Blockchain 101
    • Mining 101
    • Coins
    • Exchanges
    • Wallets
  • Market
  • Price Analysis
  • Business
  • Videos
  • Shop

© 2019 CryptoNewsKing.com - All rights reserved