Skip to main content

Bitcoin Holds Strong at $9500: A Strengthening Case for Upside

Bitcoin is up more than 2% today and it is trading above $9,500 against the US Dollar. BTC is trading in a positive zone and it could rally above the $9,800 and $10,000 resistance levels. Bitcoin is showing a lot of positive signs above the $9,500 pivot level. The price recovered nicely after a short term downside correction towards the $9,200 zone. There was a break above a key bearish trend line with resistance near $9,570 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate higher above the $9,800 as long as it is above the $9,300 support. Bitcoin Remains In Uptrend This past week, bitcoin popped higher and broke the $9,300 resistance area against the US Dollar. BTC price traded with a positive bias and settled above the $9,300 level and the 100 simple moving average (4-hours). There was a minor downside correction from the $9,600 zone, but the same $9,300 area acted as a support. The price remained stable and traded above the 61.8% Fib retracement level of the key decline from the $9,943 high to $8,650 low. Moreover, there was a break above a key bearish trend line with resistance near $9,570 on the 4-hours chart of the BTC/USD pair. Bitcoin is now trading nicely above the 76.4% Fib retracement level of the key decline from the $9,943 high to $8,650 low. Bitcoin Price It seems like the price is likely to continue higher towards the $9,750 and $9,800 levels. The first major resistance is near the $9,950 and $10,000 levels. The next major hurdle for the bulls is near the $10,500 level, above which the price is likely to surge higher towards the $11,200 and $11,500 levels. Dips Supported in BTC In the short term, bitcoin price might correct lower below $9,600. An initial support is near the broken trend line or $9,580. The first key support is near the $9,430 level and a connecting bullish trend line on the same chart. The main support is forming near the $9,300 level and the 100 simple moving average (4-hours). Any further losses may perhaps start a major decrease and the price might revisit the $9,000 level or $8,800. Technical indicators 4 hours MACD – The MACD for BTC/USD is gaining pace in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 60 level. Major Support Level – $9,300 Major Resistance Level – $9,950 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.

Via https://www.newsbtc.com/2020/05/31/bitcoin-holds-strong-at-9500-a-strengthening-case-for-upside/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-holds-strong-at-9500-a-strengthening-case-for-upside


source https://www.icocalendar.today/blockchain-news/bitcoin-holds-strong-at-9500-a-strengthening-case-for-upside

Comments

Popular posts from this blog

[Guide] Setting up a Monero full node on Tails

When should you use this guide Connecting to a third party remote node is not an option (threat model, agency, etc.) You are not able to host a private .onion remote node outside of Tails (with e.g. PiNode-XMR ) Running Qubes+Whonix is not an option This guide does not require setting up a root password or making changes to the firewall. For instructions on how to set up a wallet on Tails with a remote node, visit: http://xmrguide42y34onq.onion/tails What you will need 1 SSF USB (Tails+Blockchain) OR a regular USB (Tails) + external SSD (Blockchain) Corsair Flash Voyager GTX (CMFVYGTX3C-128GB) Sandisk Extreme PRO (SDCZ880-128G-G46) Samsung Portable SSD T5 A computer with at least 4 GB of RAM and an USB 3.0 port Some technical competence The device that stores the blockchain should have a capacity of at least 100 GB. Using the specs above and a recent processor syncing will take on the order of 15 - 30 hours. This will work with regular USB flash storage, but...

Anchor Wallet Review

submitted by /u/LitesLiger [link] [comments] via EOS - The Blockchain for Commercial Scale https://www.reddit.com/r/eos/comments/k49fke/anchor_wallet_review/

How to Write SEO-Friendly Content in 2020

submitted by /u/satya0304 [link] [comments] via Binance https://ift.tt/2Yiwtan Via ICOCalendar.Today - Binance https://ift.tt/2IdU7vF