Bitcoin Price Weekly Analysis – BTC/USD Upside Contained

Bitcoin Price Weekly Analysis – BTC/USD Upside Contained

Key Points Bitcoin price moved down sharply this past week to trade close to the $700 handle against the US dollar before starting a recovery. There is a recovery underway, as there is a flag pattern formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD. The price is currently facing a couple of important resistance levels, including $850 and $880. Bitcoin price after a sharp decline towards $700 against the US dollar started a recovery. But it looks like upsides in BTC/USD are contained. Bitcoin Price Resistances There was a nasty decline in Bitcoin price against the US Dollar, as it declined from $1150 to $700, weakening by more than 20%. Later, the price found support near $707 from where a recovery was started. The price is currently above the $800...

Bitcoin Price Weekly Analysis – BTC/USD Back Testing Resistance

Bitcoin Price Weekly Analysis – BTC/USD Back Testing Resistance

Key Points Bitcoin price dived against the US Dollar before ending the week and closed below $1000. The BTC/USD pair is now back trading higher, but facing a major confluence resistance near $960-980 on the 4-hours chart (data feed from SimpleFX). The price is also below the 100 simple moving average on the same chart, which may act as a resistance near $975. Bitcoin price after a major downside move towards $820 against the US Dollar started recovering. Can BTC/USD overcome the $980 resistance again? Bitcoin Price Resistance We saw this past week how Bitcoin price made a new all-time high against the US Dollar to trade above the $1150 mark. Later, there was a solid downside move, taking the price lower by more than 20%. The price fell below the $1000 level and...

Bitcoin Price Watch; Be Careful Out There…

Bitcoin Price Watch; Be Careful Out There…

Well, who would have thought it. There have been a few weeks over the last couple of years in the bitcoin price, during which price has soared across a couple of sessions in a row, but none really like what we’ve seen during the last couple of weeks. Price has rocketed from around the 800 mark to where it currently sits – above the 1200 level – and doesn’t look like it’s going to slow down near time. It’s exciting, but I’m going to put a bit of a dampener on things. Traders need to be careful at these levels. We’re probably going to see some near term strength, purely because it’s this point at which the uninitiated start to try and get in on the action. The wider news media start to pick up coverage on bitcoin as the price rises,...

Bitcoin Price Technical Analysis – BTC/USD Breaks Past $900

Bitcoin Price Technical Analysis – BTC/USD Breaks Past $900

Key Points Bitcoin price busted higher against the US Dollar and broke a major resistance at $900. Yesterday’s highlighted bullish trend line on the hourly chart (data feed from SimpleFX) of BTC/USD was a perfect support and buy area. The price corrected lower, tested the trend line and bounced back. Bitcoin price continues to gain momentum against the US Dollar and traded past $900. Let us see if the BTC/USD pair can challenge $1000 or not. Bitcoin Price Bullish Trend There was no stopping Bitcoin price, as it busted higher against the US Dollar, and broke yet another important resistance at $900. Yesterday, we saw how the price traded above $800 and gained pace for a ride above $850. I highlighted the chances of a minor correction in BTC/USD yesterday. The...

Bitcoin Price Technical Analysis – BTC/USD Trend Overwhelmingly Bullish

Bitcoin Price Technical Analysis – BTC/USD Trend Overwhelmingly Bullish

Key Points Bitcoin price surged higher against the US Dollar to challenge the $850-60 area (data feed from SimpleFX). Once there was a break above the $800 handle, the BTC buyers took control and took the price higher by $50. If the price corrects lower, then there is a bullish trend line on the hourly chart (data feed from SimpleFX) of BTC/USD waiting at $850 to act as a support. Bitcoin price posted heavy gains against the US Dollar, and it looks like the current trend for the BTC/USD pair is super bullish. Bitcoin Price Uptrend Recently, we saw how there was a crucial break in Bitcoin price against the US Dollar. The BTC buyers managed to overcome all odds and cleared a major barrier at $800. It was a super strong resistance, and acted as a resistance on many...