Bitcoin is up more than 2% and it is gaining bullish momentum against the US Dollar. BTC price is likely to surge 4%-5% if it clears the main $7,000 resistance area. Bitcoin is showing a lot of positive signs above the $6,700 support against the US Dollar. The price is approaching the main $7,000 resistance and breakout zone. There was a break above a major bearish trend line with resistance near $6,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally significantly if there is a clear break above the $7,000 resistance area. Bitcoin Turns Green In the past days, bitcoin remained well bid above the $6,660 and $6,700 support levels against the US Dollar. BTC bears made … [Read More...]

Bitcoin is slowly rising and trading above the $6,750 level against the US Dollar. BTC price must claim the $7,000 resistance to start a strong rally in the near term. Bitcoin is trading in a crucial range below the $7,000 resistance area against the US Dollar. Yesterday’s discussed double top pattern is still active with resistance near $7,000 and support at $6,400. There was a break above a short term contracting triangle with resistance near $6,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair soon start a strong rally above $7,000 or it might dive towards the $6,000 level. Bitcoin Approaching Next Key Break After forming a support base near $6,500, bitcoin started a steady increase against the US Dollar. … [Read More...]

Bitcoin has been able to continue climbing higher today, with the ongoing rebound in the equities market allowing Bitcoin to further extend the momentum that was first incurred last week when the cryptocurrency rallied from the lower $5,000 region to highs of $6,900. The benchmark cryptocurrency is now attempting to re-test these highs, although it remains unclear as to whether or not bulls will be strong enough to propel it past this level. One prominent analyst is noting that although he is highly bullish on Bitcoin in the long-term, he does believe that it will target the lower-$4,000 region before it is able to garner any notable buying pressure. Bitcoin Rallies Towards $7,000 as Analysts Eye Imminent Rejection At the time of writing, Bitcoin … [Read More...]

Bitcoin is down more than 5% and it broke the $6,000 support against the US Dollar. BTC price is now showing bearish signs and it could continue to move down. Bitcoin started a fresh decline after it failed to clear the $6,500 resistance against the US Dollar. The price is now trading below the $6,200 and $6,000 support levels. There is a key contracting triangle forming with support near $5,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either decline sharply below $5,750 or it might attempt a fresh increase to $6,500. Bitcoin Down 5% After a decent upward move, bitcoin struggled to gain momentum above the $6,500 resistance against the US Dollar. BTC price made a couple of … [Read More...]

Bitcoin is currently correcting higher from the $4,320 support area against the US Dollar. BTC could rally further if the bulls are able to push the price above $6,800 and the 100 SMA (H4). Bitcoin price seems to be facing a strong resistance zone near the $6,800 and $7,000 levels. The 100 simple moving average (4-hours) holds the key for the next move. There is a key bearish trend line forming with resistance near $6,680 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above $6,800 or it might decline back towards the $5,200 level. Bitcoin is Approaching Major Hurdle This past week, bitcoin started an upside correction after it forming a decent support base above $4,000 against … [Read More...]

Bitcoin has found some stability within the lower-$6,000 region over the past couple of days, with its recent rally to highs of $6,900 resulting in a relatively strong rejection that has called into question the strength of its recent uptrend. Although BTC has been able to climb significantly from its recent lows within the $3,000 region, it is important to note that many analysts are now noting that the benchmark cryptocurrency appears to be in a precarious position. One top trader is now noting that Bitcoin is trading just above a make or break level that could determine its fate in the weeks and months ahead. Bitcoin Struggles to Gain Momentum as Analysts Eye Significant Downside  At the time of writing, Bitcoin is trading down just … [Read More...]

Bitcoin is struggling to gain momentum above $5,500 resistance against the US Dollar. If BTC price breaks the $5,000 support, it could start a major decline in the near term. Bitcoin is currently trading in a range between $5,000 and $5,500 against the US Dollar. A break below the $5,000 support could set the stage for a fresh decline. There is a key ascending channel forming with support near $5,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear break above $5,500 and $5,600. Bitcoin Stuck In a Range After a close above the $5,000 pivot level, bitcoin extended its rise against the US Dollar. BTC price traded above the $5,400 resistance … [Read More...]

Bitcoin is showing signs of a decent recovery above $5,000 against the US Dollar. BTC price could recover further towards the $6,000 resistance, where the bears are likely to take a stand. Bitcoin is slowly rising and it is trading nicely above $5,200 against the US Dollar. A break above $5,600 is likely to lead the price towards the $6,000 resistance. There is a short term contracting triangle forming with resistance near $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could test the $6,000 resistance area, which is a major hurdle for more upsides. Bitcoin Could Test and Fail Near $6,000 After a short term downside correction, bitcoin found support near the $4,350 area against the US Dollar. BTC … [Read More...]