44 days ago
Bitcoin price is up over 10% and trading above $86,000. BTC is showing no signs of stopping and might aim for a move toward $100,000 in the near term. Bitcoin started a fresh surge above the $82,500 zone. The price is trading above $85,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $82,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $88,500 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price started a fresh increase above the $80,500 level. BTC cleared the $85,000 resistance and traded to a new all-time high. It posted a high at $89,600 and is currently consolidating gains. There was a minor decline below the $89,000 level. However, the price is still well above the 23.6% Fib retracement level of the upward move from the $78,555 swing low to the $89,600 high. There is also a connecting bullish trend line forming with support at $82,500 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $86,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $88,800 level. The first key resistance is near the $89,500 level. A clear move above the $89,500 resistance might send the price higher. The next key resistance could be $92,500. A close above the $92,500 resistance might initiate more gains. In the stated case, the price could rise and test the $95,000 resistance level. Any more gains might send the price toward the $100,000 resistance level. Are Dips Limited In BTC? If Bitcoin fails to rise above the $88,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $88,000 level. The first major support is near the $84,000 level or the 50% Fib retracement level of the upward move from the $78,555 swing low to the $89,600 high. The next support is now near the $82,500 zone and the trend line. Any more losses might send the price toward the $80,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 80 level. Major Support Levels – $88,000, followed by $84,000. Major Resistance Levels – $88,800, and $92,500.
NewsBTC
You can visit the page to read the article.
Source: NewsBTC
Tags :
BTC bitcoin bitcoin price btcusd BTCUSDT xbtusd
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
US Stock Exchanges Opened in the Red: Dow Jones, S&P 500, and Nasdaq Decline
US Stock Exchanges Opened in the Red! Dow Jones: -0.30% SP 500: -0.30% Nasdaq: -0.27% ————— NFA. NewsBTC
BITGET TOKEN PRICE ANALYSIS & PREDICTION (December 26) – BGB Posts Major Gains To Lead Daily Altcoins Rally, Remains Bullish
Most exchange-based tokens are defying the odds amid the latest market drops. As they continue to show signs of recovery, BGB leads the current daily surge with 17% gains in the last 24 hours. Despite the recent crackdown across the crypto space, BGB showed signs of strength with a back-to-back gain in the past weeks. It pushed above $5 this week and is now on the verge of taking $7. Looks highly bullish on the daily chart. While the bulls currently appear more formidable amid dominance, the price is expected to close strong this week. Although the current market drop may affect this target price if supply increases. However, it is crucial to note that this ongoing bullish move was mainly initiated in October after a flash crash to the $0.53 level. Looking back from there to where it currently trades, BGB has seen a staggering gain. That said, the daily bias is still considered bullish following a higher high and higher low pattern on the 4-hour chart. Failure to sustain this pattern may result in a major retracement. For now, it remains under the bulls’ radar. Aside from BGB, other centralized exchange – CEX-based tokens included in today’s rally are FTT, OKB and GT – up by 10% today with BNB posting 1% gains in the last 24 hours. BGB’s Key Level To Watch Source: Tradingview Currently, there’s no key resistance on the way up. But the key potential level to consider amid the latest surge is $8, followed by the psychological $10 level. The next levels to watch above it are $12, 14 and $16. If a pullback occurs, the closest line of support is $4.9. The $3.5 level is the next support to consider for drops. A deep correction from there may slide the price to the $2.41 level before rebounding. Key Resistance Levels: $8, $10, $12 Key Support Levels: $4.9, $3.5, $2.41 Spot Price: $6.39 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! NewsBTC
