18 hours ago
Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone. Bitcoin started a decent recovery wave above the $84,500 zone. The price is trading near $83,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $82,200 zone. Bitcoin Price Dips Sharply Bitcoin price managed to stay above the $82,500 support zone. BTC formed a base and recently started a decent recovery wave above the $83,500 resistance zone. The bulls were able to push the price above the $84,500 and $85,500 resistance levels. The price even climbed above the $88,000 resistance. A high was formed at $89,042 and the price started a sharp decline. There was a drop below the $86,000 and $85,000 levels. There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair. A low was formed at $82,141 and the price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. Bitcoin price is now trading near $83,500 and the 100 hourly Simple moving average . On the upside, immediate resistance is near the $84,000 level. The first key resistance is near the $85,000 level. The next key resistance could be $85,550 and the 50% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. A close above the $85,550 resistance might send the price further higher. In the stated case, the price could rise and test the $86,800 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500. More Losses In BTC? If Bitcoin fails to rise above the $85,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,800 level. The first major support is near the $82,200 level. The next support is now near the $81,350 zone. Any more losses might send the price toward the $80,500 support in the near term. The main support sits at $80,000. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $82,800, followed by $82,200. Major Resistance Levels – $84,200 and $85,500.
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.
`Vibe Governing`: Trump`s Tariff Formula Eerily Similar to ChatGPT Suggestions, Experts Say
Did the White House “vibe code” the trade-deficit ratio with AI to generate a formula to crash stock markets? The evidence is compelling. NewsBTC
Ethereum & Solana: Key Resistance Breakout or Crypto Winter? Our Analysis Reveals All
Ethereum and Solana are under the spotlight as traders watch for key resistance levels. Will these cryptocurrencies surge, or are they headed for another downturn? This analysis dives deep into what could be a game-changing moment for the market. Stay tuned to discover which coins show promise and which ones might falter. Ethereum Price Dynamics Amid Bearish Downtrends Ethereum dropped roughly 9% over the past week, about 15% over the last month, and nearly 25% in the past six months. Price performance has struggled with continuous declines, highlighting a phase of downward pressure despite occasional fluctuations. The market reflects caution among traders as they await signs of recovery, making it difficult to find strong bullish momentum during this period. The current trading range falls between $1538 and $2325.85. Key resistance is seen at $2829.45 while support rests at $1255.61, with a secondary resistance at $3616.37 and a lower support level near $468.69. Bulls remain on the back foot as indicators point to bearish sentiment. Trading strategies might consider positions near support with tight risk management within these levels. Solana Market Trends and Key Price Levels Solana price performance shows a drop of about 16.64% over the past month and a decline of roughly 17.38% in the last six months. A one-week slide of 13.92% also adds to the picture of recent downward movement. The coin has stayed within a set range, with its values oscillating between approximately $97.94 and $165.67, reflecting overall bearish behavior in recent months. Current trading levels are defined by immediate support near $71.30 and resistance at $206.76, with a second resistance around $274.49. Market indicators like momentum and RSI show bearish pressure, and there is no clear uptrend in sight. Traders might consider short positions near resistance or look for rebound opportunities around support, keeping in mind the downward signals. Conclusion ETH and SOL are testing pivotal points. A breakout above resistance could signal a strong uptrend. Failure to do so might indicate prolonged market weakness. Investors should keep an eye on volume and market sentiment. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. NewsBTC
BTC
BCH
-
Bitcoin Staking Protocol Babylon Reveals BABY Token Airdrop
29 dakika önce
