Bitcoin Price Watch: BTC/USD In Steady Uptrend

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Bitcoin Price Watch: BTC/USD In Steady Uptrend

Aayush Jindal||

| Secret Points

  • Bitcoin price spiked above the $6,800 resistance recently before remedying lower against the US Dollar.There is a short-term bearish trend line in location with resistance at$6,730 on the hourly chart of the BTC/USD pair( information feed from Kraken). The set is likely to move even more greater
  • above the $6,750 and $6,800 resistance levels.Bitcoin rate is positioned in an uptrend above$6,600 against the United States Dollar.

    BTC/USD may possibly resume its upside move as soon as the current correction is total. Bitcoin Price Analysis Bitcoin price bounced sharply after forming a base near the$6,500 level versus the US Dollar. The BTC/USD pair traded above the$6,600 and $6,700 resistance levels. The advantage wave was strong given that the cost traded to a brand-new monthly high at $6,839. Later on, the rate started a disadvantage correction and declined listed below$6,800. There was a break below the 23.6 %Fib retracement level of the last wave from the$6,504 low to$6,839 high.However, the decline discovered support near the$6,680 level, which was a resistance earlier. The 50%Fib retracement level of the last wave from the$6,504

    low to$6,839 high also acted as a support. The price is currently combining and is well above the $6,600 support and the 100 hourly easy moving average. Need to the price decline even more, the$6,620 and $6,600 assistance levels are most likely to act as strong resistances. On the benefit, a preliminary resistance is at$6,720. There is also a short-term bearish trend line in location with resistance at$ 6,730 on the per hour chart of the BTC/USD pair.Looking at the chart, the rate is likely to break the trend line and$6,750 to resume its upside wave. The next resistances are at $6,800,$ 6,840 and$6,880. Taking a look at the technical indications: Per hour MACD– The MACD for

    BTC/USD is presently in the bearish zone.Hourly RSI(Relative

    Strength Index)– The RSI is flirting with the 50 level.Major Assistance Level–$6,600Significant Resistance Level– $6,800 Tags:,,,, ,, Ico calendar Blockchain Playground for Social Games Decentralized peer to peer ERC-20 compatible token Africa’s

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