Bitcoin (BTC) Price Breaks $9k: Next Possible Target $10K

There were sharp gains in bitcoin price above the $8,000 resistance area against the US Dollar.
The price rallied above the $8,500 and $8,800 resistance levels to move into a positive zone.
There is a major bullish trend line forming with support near $8,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is currently trading above the $9,000 level and it could continue higher towards the $10,000 level.

Bitcoin price is gaining bullish momentum above $9,000 against the US Dollar. BTC is likely to accelerate higher and it could even break the $10,000 level in the near term.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price found a strong support near the $7,500 level against the US Dollar. As a result, the BTC/USD pair started a strong upward move above the $8,000 and $8,500 resistance levels. The price even settled above the $8,500 resistance and the 100 simple moving average (4-hours). Moreover, there was a clear break above the $8,800 resistance area.
Finally, the price spiked above the $9,000 level and it is currently trading with a strong bullish bias. On the downside, an initial support is near the $9,000 level. The next support is near the $8,800 and $8,780 levels. It represents the 23.6% Fib retracement level of the last wave from the $8,020 low to $9,027 high. Moreover, there is a major bullish trend line forming with support near $8,650 on the 4-hours chart of the BTC/USD pair.
If there is a downside break below the trend line, the price could test $8,500. The 50% Fib retracement level of the last wave from the $8,020 low to $9,027 high is also near the $8,520 level. On the upside, an immediate resistance is near the $9,080 and $9,100 levels. If there is an upside break above $9,100, the price could surge further higher in the coming sessions.
The next target for the bulls could be near the $9,500 level. However, there are high chances of more gains and the price might even rally towards the $10,000 level in the near term.

Looking at the chart, bitcoin price seems to be trading with a strong bullish momentum above $8,500 and $8,800. Therefore, there are high chances of more upsides above the $9,100 and $9,500 levels. On the downside, the $8,800 and $8,500 levels are likely to act as major supports for the bulls.
Technical indicators
4 hours MACD – The MACD for BTC/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently in the overbought zone, with no bearish sign.
Major Support Level – $8,500
Major Resistance Level – $9,500
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Ethereum (ETH) Price Weekly Forecast: Break Above $300 Likely

ETH price rallied recently and broke the $260 and $265 resistance levels against the US Dollar.
The price is currently trading near the key $275 resistance, above which it could rally further.
There is a major bullish trend line forming with support at $265 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is likely to break the $275 resistance and it could even test the $300 resistance area.

Ethereum price is gaining bullish momentum against the US Dollar, similar to bitcoin. ETH is likely to accelerate higher towards the $290 and $300 resistance levels in the near term.
Ethereum Price Weekly Analysis
This past week, Ethereum price started a steady rise from the $230 support area against the US Dollar. The ETH/USD pair broke many resistances, including $245 and $250. There was also a close above the $250 resistance and the 100 simple moving average (4-hours). Moreover, the price rallied above the $260 resistance and recently tested the key $275 resistance area.
A swing high was formed at $274.25 and the price is currently trading with a positive bias. An initial support is near the 23.6% Fib retracement level of the last wave from the $252 low to $274 swing high. Moreover, there is a major bullish trend line forming with support at $265 on the 4-hours chart of ETH/USD. If there is a downside break below the trend line, the price could even break the $262 support area. An intermediate support is near the 50% Fib retracement level of the last wave from the $252 low to $274 swing high.
The main support on the downside is near the $260 level. It represents the 61.8% Fib retracement level of the last wave from the $252 low to $274 swing high. On the upside, the $275 level is a crucial resistance. If there is an upside break above $275, the price could rally further above the $280 level.

The above chart indicates that Ethereum price is clearly trading in a strong uptrend above $265 and $260. As long as the price is above $260, there are chances of more upsides in the near term. The next key resistance above $275 is near the $288 level. If the price continues to rise, it could even break the $300 handle in the coming sessions. The next major hurdles for the bulls is near the $310 level.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently well above the 60 level and it could rise further above 70.
Major Support Level – $260
Major Resistance Level – $275
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Crypto Market Rallies $15 Billion: Bitcoin Cash, Litecoin, EOS, XLM Analysis

The total crypto market cap gained momentum and broke the key $252.0B resistance area.
Bitcoin price surged above the $8,500 and $8,650 resistance levels.
Litecoin (LTC) price remains in a strong uptrend and is trading nicely above $134.
Bitcoin cash price is grinding higher towards the $420 and $425 resistance levels.
EOS price is back above the $6.50 level and it may even break the key $6.75 resistance area.
Stellar (XLM) price is about to gain momentum above the $0.1250 level.

The crypto market cap gained sharply, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as LTC, ripple, bitcoin cash, EOS, TRX, and stellar are also moving higher.
Bitcoin Cash Price Analysis
Bitcoin cash price finally broke the $400 resistance against the US Dollar to move into a positive zone. The BCH/USD pair even cleared the $405 resistance and it is currently trading above the $410 level. An immediate resistance on the upside is near $420, above which there are chances of more gains above $425.
On the downside, the $410 level might act as a decent support, below which there is a risk of a drop back towards the $400 or $395 support.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price settled above the $130 level and it is currently moving higher. LTC price is currently up more than 3% and it is likely to climb above the $135 and $138 levels. The main resistance for the bulls is near the $140 level. On the downside, the recent resistance at $130 could provide support.
EOS price managed to gain traction above the $6.45 and $6.50 resistance levels. The price is now trading nicely above the $6.60 level and it might continue to rise in the near term. The next key resistances are near $6.70 and $6.75.
Stellar price is trading well above the $0.1200 support level and it is slowly moving higher. XLM price is about to break the $0.1250 resistance and it could continue to rise towards the $0.1280 and $0.1300 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move from the $246.0B swing low. The market cap broke the main $250.0B and $252.0B resistance levels. It added more than $10B and grinded above the $260.0B level. A swing high was formed near $263.1B and it is currently correcting lower. An immediate support is near the $257.0B level, followed by a connecting bullish trend line with support near the $255.0B level. As long as the market cap is above the $250.0B pivot level, there could be more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions.
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Bitcoin (BTC) Price Hits First Target: Can Bulls Hit $8.8K or $9K?

Bitcoin price is n a positive zone and recently climbed above the $8,500 level against the US Dollar.
The price is gaining momentum and it seems like it could even trade towards the $8,800 level.
There is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might dip a few points, but it remains well bid above the $8,460 pivot level.

Bitcoin price extended gains above the $8,500 resistance against the US Dollar. BTC is showing a lot of bullish signs and it could make an attempt to surpass $8,800 in the near term.
Bitcoin Price Analysis
Yesterday, we discussed the possibility of bitcoin price hitting the $8,500 mark against the US Dollar. The BTC/USD pair did gain momentum above the $8,300 resistance and settled above the 100 hourly simple moving average. It opened the doors for more gains and the price rallied above the $8,400 and $8,500 resistance levels. Additionally, the upward move was strong as the price even broke the $8,600 level.
There was a spike above the $8,700 level and the price traded to a new monthly high at $8,741. It is currently correcting lower below $8,700. Moreover, it is testing the 23.6% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. On the downside, there are many supports near the $8,600 and $8,700 levels.
Furthermore, there is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC/USD pair. The main support is near the $8,460 level. It coincides with the 50% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. Therefore, if there is a downside break below $8,460, the price could retest the $8,300 support area.
On the upside, an initial resistance is near the $8,740 and $8,750 levels. If there is an upside break above $8,750, the price is likely to surge above the $8,800 resistance area. The next key resistance is near the $9,000 level.

Looking at the chart, bitcoin price is clearly gaining bullish momentum above the $8,500 level. Therefore, there are chances of more upsides above the $8,750 and $8,800 levels. In the short term, there could be a downside correction, but the $8,460 level might provide support. The main uptrend support is now near the $8,300 level in the near term.
Technical indicators:
Hourly MACD – The MACD is currently reducing its bullish slope, with a few negative signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting from the overbought zone.
Major Support Levels – $8,500 followed by $8,460.
Major Resistance Levels – $8,750, $8,800 and $9,000.
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Bitcoin (BTC) Price Gaining Momentum: Break Above $8,500 Likely

Bitcoin price extended gains recently and broke the $8,100 and $8,200 resistances against the US Dollar.
The price seems to be setting up for more gains above the $8,300 resistance area.
There is a crucial bullish trend line forming with support near $8,140 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is placed nicely above the $8,100 pivot level and it seems like there could be more upsides.

Bitcoin price traded to a new weekly high above $8,300 against the US Dollar. BTC is showing a lot of positive signs and it could even rally towards the $8,500 resistance area.
Bitcoin Price Analysis
In the past few sessions, there was a steady rise in bitcoin price above the $8,000 barrier against the US Dollar. The BTC/USD pair gained bullish momentum above $8,150 and even broke the $8,200 level. Recently, the price broke the last swing high and traded above the $8,300 level. A new weekly high was formed at $8,344 before the price started a downside correction.
Still, the price is trading well above the $8,000 level and the 100 hourly simple moving average. It corrected below the $8,250 level and the 23.6% Fib retracement level of the recent leg from the $8,006 low to $8,344 high. However, the recent decline is finding bids near the $8,175 level. It represents the 50% Fib retracement level of the recent leg from the $8,006 low to $8,344 high.
On the downside, there are many supports near the $8,175 and $8,150 levels. Moreover, there is a crucial bullish trend line forming with support near $8,140 on the hourly chart of the BTC/USD pair. The trend line support coincides with the 61.8% Fib retracement level of the recent leg from the $8,006 low to $8,344 high.
Therefore, as long as the price is above the $8,140 level, it is likely to continue higher. On the upside, an initial resistance is near the $8,300 level, followed by the $8,344 high. If there is an upside break above $8,344, the price is likely to climb higher towards the $8,500 resistance area.

Looking at the chart, bitcoin price is clearly trading in a positive zone above the $8,150 and $8,100 support levels. The main support is near $8,000, below which the price may perhaps move into a bearish zone. The current price action is positive, suggesting an upside break above the $8,300 and $8,350 levels in the near term.
Technical indicators:
Hourly MACD – The MACD is about to move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently moving higher towards 60 and 65.
Major Support Levels – $8,150 followed by $8,100.
Major Resistance Levels – $8,300, $8,350 and $8,500.
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Bitcoin (BTC) Price Smashes Resistance: Primed For More Gains

Bitcoin price broke to the upside and cleared the $7,950 and $8,000 barriers against the US Dollar.
The price even broke the $8,200 resistance area and it is currently correcting lower.
There is another major breakout pattern forming with resistance near $8,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is currently trading with a positive bias above the $8,100 and $8,000 support levels.

Bitcoin price started a strong rise after it broke the $8,000 barrier against the US Dollar. BTC is back in a positive zone and it might continue to rise towards the $8,400 level.
Bitcoin Price Analysis
Recently, bitcoin price formed a support base above the $7,700 level against the US Dollar. The BTC/USD pair started a steady rise and broke the $7,800 and $7,850 resistance levels. As a result, the bulls gained strength above the $7,900 level and the 100 hourly simple moving average. It opened the doors for more gains above the main $7,950 and $8,000 resistance levels.
The price even surpassed yesterday’s breakout pattern with resistance near $7,950 on the hourly chart. The bulls managed to push the price to a new weekly high above the $8,100 level. Finally, there was a break above the $8,200 level and a new swing high was formed near $8,284.
Recently, bitcoin price started a downside correction below $8,200. It broke the 23.6% Fib retracement level of the recent wave from the $7,902 swing low to $8,284 high. On the downside, there are many supports near the $8,100 and $8,080 levels. Moreover, there is another major breakout pattern forming with resistance near $8,200 on the hourly chart of the BTC/USD pair.
The 50% Fib retracement level of the recent wave from the $7,902 swing low to $8,284 high is also near the $8,090 level to act as a support.  It seems like there could be a downside spike towards the $8,080 or $8,050 support levels before the price starts a fresh increase. On the upside, a break above the $8,200 level could open the doors for more gains in the near term.

Looking at the chart, bitcoin price is showing positive signs above the $8,000 and $8,100 support levels. In the short term, there could be a few swing moves, but the price is likely to hold the $8,000 support. As long as BTC is above $8,000, it could continue to grind higher.
Technical indicators:
Hourly MACD – The MACD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level and is correcting lower.
Major Support Levels – $8,100 followed by $8,000.
Major Resistance Levels – $8,200, $8,300 and $8,380.
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Crypto Market Starts Fresh Increase: Bitcoin Cash, BNB, EOS, TRX Price Analysis

The total crypto market cap found support near $236.0B and jumped sharply above $245.0B.
Bitcoin price broke the key $8,000 resistance level to move into a positive zone.
EOS price broke the $6.40 and $6.50 resistance levels to start a decent recovery.
Binance Coin (BNB) is up more than 5% and it recently broke the $35.00 resistance.
Bitcoin cash price is above to break the $400 barrier to move into a bullish area.
Tron (TRX) price gained nearly 6% and it recently broke the key $0.0320 resistance.

The crypto market cap gained more than $10B, with positive moves in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS are currently gaining momentum.
Bitcoin Cash Price Analysis
After a major downside correction, bitcoin cash price found support above $360 against the US Dollar. The BCH/USD pair started a steady recovery and recently broke the $380 and $390 resistance levels. The pair is currently trading near $400, above which the bulls are likely to take control in the near term.
The next key resistances are near $410 and $420. If there is a downside move, the price might find bids near the $390 or $385.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price remained stable above the $6.20 level and it recently recovered higher. The price broke the $6.25 and $6.32 resistance levels. Moreover, there was a break above the $6.45 and $6.50 resistance levels. The next stop for the bulls could be $6.60 or $6.65.
Tron price is gaining bullish momentum and it is currently trading up more than 5%. TRX price broke the $0.0300 and $0.0320 resistance levels. It is currently trading above the $0.0330 level and the next stop could be $0.0340. The main resistance for the bulls is near the $0.0350 level in the coming sessions.
Binance coin (BNB) is up more than 5% and it recently cleared the $34.00 and $35.00 resistance levels. BNB price is now consolidating above the $35.00 level, with an immediate resistance near the $35.40 and $35.50 levels. The main hurdle is near the $36.20 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a major upside break above the $236.0B and $240.0B resistance levels. The market cap broke the $246.0B resistance and tested the next important resistance near the $252.0B level. At the moment, the market cap is confined in a range and it might surpass the $252.0B resistance area. The next major resistance could be $258.0B or $260.0B. If there is a downside correction, the $244.0B or $242.0B level might act as a support. Overall, there are chances of more gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX.
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Ethereum (ETH) Price Rallies Above $260: Turned Buy On Dips

ETH price started a strong upward move after it broke the key $250 resistance against the US Dollar.
The price even broke the $255 and $260 resistance levels to move into a positive zone.
There is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is correcting lower, but dips remain supported near the $255 and $252 levels.

Ethereum price rallied recently with a positive momentum versus the US Dollar, similar to bitcoin. ETH price is now trading with a bullish bias and dips remain supported on the downside near $255.
Ethereum Price Analysis
After forming a support base near the $240 level, Ethereum price broke the $245 resistance against the US Dollar. The ETH/USD pair gained bullish momentum after it broke the $250 resistance and the 100 hourly simple moving average. The bulls took control and pushed the price above the $255 and $260 resistance levels.
As a result, the price traded to a new weekly high above the $260 level at $264. The price traded close to the $265 level and it is currently correcting lower. At the moment, the price is correcting lower below $260 and the 23.6% Fib retracement level of the recent wave from the $246 low to $264 high. On the downside, there are many support near the $255 and $252 levels.
An initial support is at $255 and the 50% Fib retracement level of the recent wave from the $246 low to $264 high. Moreover, there is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD. The trend line coincides with the 61.8% Fib retracement level of the recent wave from the $246 low to $264 high.
Therefore, if the price corrects lower, it is likely to find a strong buying interest near the $255 and $252 levels. A break below the trend line might push the price back towards the $250 pivot level. On the upside, an initial resistance is near the $262 and $264 levels. A clear break above the $265 level might call for a test of $275.

Looking at the chart, Ethereum price is clearly trading with a positive bias above the $255 and $250 support levels. As long as there is no close below $250, the price is likely to grind higher in the coming sessions.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently moving in the bullish zone, with a few negative signs.
Hourly RSI – The RSI for ETH/USD is currently well above the 60 level and is correcting lower.
Major Support Level – $255
Major Resistance Level – $265
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Bitcoin (BTC) Price Weekly Forecast: Bulls Facing Uphill Task

The recent recovery in bitcoin price faced a strong resistance near the $8,140 level against the US Dollar.
The price is currently facing a strong resistance and it is likely to struggle near $8,000.
There is a major bearish trend line forming with resistance near $7,950 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could either break the $8,000 resistance and rally or decline below the $7,700 support area.

Bitcoin price is showing signs of weakness below the $8,000 barrier against the US Dollar. BTC could make the next move either above $8,000 or below $7,700 in the coming sessions.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price started a short term recovery after trading below $7,600 against the US Dollar. The BTC/USD pair traded as low as $7,441 and settled below the 100 simple moving average (4-hours). Recently, it recovered above the $7,700 and $7,800 resistance levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $8,835 high to $7,441 swing low.
However, the upward move faced a strong resistance near the $8,000 and $8,150 levels. The price also faced a strong resistance near the 50% Fib retracement level of the recent decline from the $8,835 high to $7,441 swing low. There is also a major bearish trend line forming with resistance near $7,950 on the 4-hours chart of the BTC/USD pair. If there is an upside break above the trend line, the price could recover further above $8,150. The next key resistance is near the $8,300 level and the 100 simple moving average (4-hours).
The 61.8% Fib retracement level of the recent decline from the $8,835 high to $7,441 swing low is also near the $8,300 level to act as a hurdle for the bulls. If they surpass $8,300, the price could rally towards the $8,500 level. Conversely, if the price fails to move above the trend line and $8,000, there could be a downside break. On the downside, an immediate support is near the $7,700 level, below which there is a risk of more losses in the near term. The next key support is at $7,600, below which the price could even clear the $7,440 swing low.

Looking at the chart, bitcoin price seems to be trading near an important area at $8,000. If there is an upside break, the price could start a strong uptrend. If not, there is a risk of a fresh decline below the $7,700 and $7,500 support levels.
Technical indicators
4 hours MACD – The MACD for BTC/USD is slowly moving in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently near the level 50, with a flat bias.
Major Support Level – $7,700
Major Resistance Level – $8,000
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Ethereum (ETH) Price Weekly Forecast: More Downsides Likely

ETH price failed to gain momentum above $250 and $252 against the US Dollar.
The price is currently well below $250 and it remains at a risk of more losses.
There is a major bearish trend line forming with resistance at $248 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair remains at a risk of more losses and it could accelerate below the $240 level.

Ethereum price is showing signs of weakness versus the US Dollar and bitcoin. ETH is likely to accelerate lower if it breaks the $240 and $235 support levels in the near term.
Ethereum Price Weekly Analysis
This past week, Ethereum price started a short term recovery from the $233 swing low against the US Dollar. The ETH/USD pair recovered above the $240 and $245 levels. There was a break above the 23.6% Fib retracement level of the last decline from the $274 swing high to $233 swing low. However, the price faced a strong resistance near the $250 and $252 resistance levels. Moreover, the 100 simple moving average (4-hours) also prevented gains and acted as a strong resistance.
Moreover, the 50% Fib retracement level of the last decline from the $274 swing high to $233 swing low also stopped upsides. More importantly, there is a major bearish trend line forming with resistance at $248 on the 4-hours chart of ETH/USD. The pair is now trading well below the trend line, $250, and the 100 simple moving average (4-hours). As long as the pair is below $250, it remains at a risk of more losses. An initial support is near the $240 level, below which the price could retest the $235 support.
If there are more losses, the price could decline sharply towards the $225 support. To start a decent recovery, the price must surpass the trend line, $250, and the 100 simple moving average (4-hours). A successful close above $250 could initiate a strong upward move towards the $255 and $260 levels. The next key resistance for the bulls is near the $270 level.

The above chart indicates that Ethereum price is facing a strong resistance near the $250 level and the 100 SMA. If the bulls continue to struggle, the price is likely to accelerate lower towards the $225 and $220 levels. On the upside, a clear break above $250 and $252 might start a strong upward move in the near term.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is slowly moving in the bearish zone.
4 hours RSI – The RSI for ETH/USD is currently well below the 50 level and it could decline further below 40.
Major Support Level – $235
Major Resistance Level – $250
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Bitcoin (BTC) Price Forming Double Bottom: Setting Stage For Rebound

Bitcoin price seems to be forming a strong support base near $7,440 against the US Dollar.
The price recovered above $7,700 and it is currently trading near the $7,800 resistance area.
There is a major bearish trend line forming with resistance near $7,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely forming a double bottom pattern and it could stage a decent recovery above $8,000.

Bitcoin price is showing a lot of positive signs above the $7,500 level against the US Dollar. BTC could start a strong recovery once it clears $7,950 and $8,000.
Bitcoin Price Analysis
Recently, bitcoin price retested the last swing low near $7,440 against the US Dollar. The BTC/USD pair remained stable above $7,440 and the bulls defended more losses. A new swing low was formed and the price recently moved higher. There was a break above the $7,500 and $7,600 levels to start an upside correction. The price also climbed above the 23.6% Fib retracement level of the last drop from the $8,578 high to $7,441 low.
At the moment, the price is trading above the $7,700 level and testing a major hurdle near $7,800. There is a connecting bearish trend line forming with resistance near $7,800 on the hourly chart of the BTC/USD pair. Above $7,800, there is another major bearish trend line forming with resistance near $7,950 on the same chart. The 100 hourly simple moving average is also near the trend line and $7,960 to act as a hurdle. The main resistance is near the $8,000 level. The 50% Fib retracement level of the last drop from the $8,578 high to $7,441 low is also near the $8,000 level.
Therefore, a successful break above both trend lines and $8,000 could start a strong upward move. The next key resistance is near the $8,144 level. It represents the 61.8% Fib retracement level of the last drop from the $8,578 high to $7,441 low. On the downside, the price seems to be forming a double bottom pattern near the $7,440 level. A clear break below $7,440 could negate the bullish view and spark more losses.

Looking at the chart, bitcoin price is trading with positive moves above $7,600. Having said that, the bulls need to clear $7,950 and $8,000 to start a strong rally. If they continue to struggle near $8,000, the price might start a fresh decline below $7,500 and $7,440.
Technical indicators:
Hourly MACD – The MACD is currently moving in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently positioned well above the 50 level.
Major Support Levels – $7,700 followed by $7,600.
Major Resistance Levels – $7,950, $8,000 and $8,145.
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Ripple (XRP) Price Showing Bullish Signs: Look For Break Above $0.44

Ripple price started a decent recovery from the $0.3840 support area against the US dollar.
The price traded above the $0.4000 resistance and it is currently showing positive signs.
There was a break above a connecting bearish trend line with resistance at $0.4010 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently trading above the $0.4150 resistance and it could continue higher in the near term.

Ripple price is showing positive signs against the US Dollar and bitcoin. XRP could continue to climb higher once it clears the key $0.4250 resistance area in the coming sessions.
Ripple Price Analysis
After a strong downward move, ripple price found support near the $0.3840 area against the US Dollar. The XRP/USD pair traded as low as $0.3837 and recently started an upside correction. It recovered above the $0.3950 resistance to move into a short term bullish zone. There was a break above the 23.6% Fib retracement level of the recent drop from the $0.4653 high to $0.3837 low. There was a close above the $0.4000 resistance and the 100 hourly simple moving average.
Moreover, there was a break above a connecting bearish trend line with resistance at $0.4010 on the hourly chart of the XRP/USD pair. The pair is now trading above the $0.4150 resistance and the 100 hourly SMA. On the upside, an immediate resistance is near the $0.4250. The 50% Fib retracement level of the recent drop from the $0.4653 high to $0.3837 low seems to be acting as a strong resistance. If there is an upside break above $0.4250, the price could continue to rise in the near term.
The next key resistance area is near the $0.4340 level. It represents the 61.8% Fib retracement level of the recent drop from the $0.4653 high to $0.3837 low. A successful break above the $0.4340 resistance might start a strong upward move above $0.4400. In the mentioned bullish case, the price could even trade towards the $0.4500 level. On the downside, an initial support is near the $0.4150 level. If there is a downside break below $0.4150, the price might retest the $0.4000 support area.

Looking at the chart, ripple price is showing a lot of positive signs above the $0.4150 level and the 100 hourly SMA. Therefore, there are chances of more upsides above $0.4340 and $0.4400 in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 55 level, with a positive angle.
Major Support Levels – $0.4150, $0.4000 and $0.3950.
Major Resistance Levels – $0.4250, $0.4340 and $0.4400.
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Bitcoin (BTC) Price At Risk Of Additional Weakness: $8,000 Holds Key

Bitcoin price started a major downward move below the $8,200 and $8,000 supports against the US Dollar.
The price even broke the key $7,600 support level and it is currently recovering higher.
There are two major bearish trend lines forming with resistance near $7,950 and $8,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to struggle near the $8,000 and $8,200 resistance levels in the near term.

Bitcoin price is facing an increase in selling pressure against the US Dollar. BTC might correct higher, but it is likely to fail near the $8,000 or $8,200 resistance levels.
Bitcoin Price Analysis
There was a steady decline in bitcoin price below the $8,500 and $8,400 support levels against the US Dollar. The BTC/USD pair even broke the key $8,000 support level to enter a bearish zone. Moreover, there was a close below the $8,000 level and the 100 hourly simple moving average. Finally, there was a drop below the $7,600 support level and the price traded to a new weekly low at $7,441.
Recently, bitcoin price started an upside correction above the $7,600 level. Besides, there was a break above the 23.6% Fib retracement level of the recent decline from the $8,578 high to $7,441 low. On the upside, there are many resistances near the $7,900, $8,000 and $8,200 levels. There are also two major bearish trend lines forming with resistance near $7,950 and $8,200 on the hourly chart of the BTC/USD pair. An intermediate resistance is near $8,000. It coincides with the 50% Fib retracement level of the recent decline from the $8,578 high to $7,441 low.
Therefore, a successful break above the $8,000 level might push the price towards the $8,200 resistance. If there are more upsides, the price could recover towards the $8,400 level or the 100 hourly SMA. Conversely, if bitcoin price fails to move above $8,000, it could decline once again. An initial support is near the $7,600 level. If the bulls fail to hold $7,600, there could be a sharp decline towards the $7,400 support area.

Looking at the chart, bitcoin price seems to be following a bearish path from well above $8,400. In the short term, there could be an upside correction, but the price is likely to struggle near $8,000 or $8,200. Only a successful close above $8,200 could kick start a fresh increase in the near term.
Technical indicators:
Hourly MACD – The MACD is currently gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently moving higher towards the 50 level.
Major Support Levels – $7,600 followed by $7,400.
Major Resistance Levels – $8,000, $8,200 and $8,400.
The post Bitcoin (BTC) Price At Risk Of Additional Weakness: $8,000 Holds Key appeared first on NewsBTC.
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Ethereum (ETH) Price Turns Short Term Bearish: Sell Rallies?

ETH price started a steady decline and broke the $252 support area against the US Dollar.
The price traded towards the $230 level and formed a new swing low at $233.
There is a major bearish trend line forming with resistance near $246 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could either recover above $250 or decline again towards the $230 level.

Ethereum price moved into a bearish zone versus the US Dollar, but was stable vs bitcoin. ETH price is currently recovering higher, but it might face sellers near $250.
Ethereum Price Analysis
In the past two days, Ethereum price remained in a bearish zone below $265 against the US Dollar. The ETH/USD pair formed a couple of swing lows and declined below the $260 and $250 support levels. There was even a close below the $250 level and the 100 hourly simple moving average. The price traded below the $246 support level and formed a new weekly low near the $233 level. Recently, it started an upside correction above the $235 level and the 50% Fib retracement level of the downward move from the $252 high to $233 low.
However, there are many hurdles near the $244, $246 and $250 levels. Moreover, there is a major bearish trend line forming with resistance near $246 on the hourly chart of ETH/USD. The 61.8% Fib retracement level of the downward move from the $252 high to $233 low is also near the $244 level. Besides, the main resistance for the bulls is near the $250 level. Therefore, if there is an upside break above the trend line and $250, the price could recover further towards the $255 and $260 levels.
Conversely, if the price fails to break the $250 resistance, there is a risk of a fresh decline. An initial support is near the $240 level. If there is a downside break below $240, the price could move back towards the $233 swing low in the near term. Below $233, the price might continue to slide towards the $225 support area.

Looking at the chart, Ethereum price is clearly trading with bearish moves below the $250 level. Therefore, a proper close above the $250 barrier is needed for the bulls to gain control. The next key resistance is near the $255 level and the 100 hourly SMA, where sellers may emerge. Above $255, the price might test $260.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving back in the bullish zone, with a few positive signs.
Hourly RSI – The RSI for ETH/USD is currently moving higher towards the 50 level.
Major Support Level – $240
Major Resistance Level – $250
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Ripple (XRP) Price Breaks Down: Can Bulls Protect $0.40?

Ripple price failed to hold the key $0.4400 support area and declined recently against the US dollar.
The price declined below the $0.4200 support area and even spiked below $0.4000.
There was a break below a major ascending channel with support at $0.4380 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently near $0.4120, but there is a risk of more losses in the near term.

Ripple price failed to continue higher and declined sharply against the US Dollar and bitcoin. XRP is currently under pressure and it seems like the bulls may struggle to hold $0.4000.
Ripple Price Analysis
In the past few days, there was a steady rise in ripple price above the $0.4200 and $0.4380 resistance against the US Dollar. The XRP/USD pair even broke the $0.4500 resistance and settled above 100 hourly simple moving average. Finally, there was a push above the $0.4610 level. However, the price failed to stay above the $0.4600 level and there was a major bearish reaction. The price declined heavily and broke the key $0.4500 and $0.4440 support levels.
During the decline, there was a break below a major ascending channel with support at $0.4380 on the hourly chart of the XRP/USD pair. The pair even broke the $0.4200 support area and the 100 hourly simple moving average. Finally, there was a spike below the $0.4000 level and the price traded as low as $0.3964. At the moment, the price is correcting above $0.4100 and the 23.6% Fib retracement level of the recent decline from the $0.4646 high to $0.3964 low. On the upside, there are many hurdles for the bulls near the $0.4300 level. The broken trend line support near $0.4320 and the 100 hourly SMA could prevent upsides.
Moreover, the 50% Fib retracement level of the recent decline from the $0.4646 high to $0.3964 low is also near the $0.4305 level to act as a resistance. Therefore, if there is an upside correction, the price could struggle near the $0.4300 level. A successful close above $0.4320 and the 100 hourly SMA might start a fresh increase. If not, there is a risk of more losses below $0.4100 and $0.4000.

Looking at the chart, ripple price clearly moved into a short term bearish zone below $0.4300. If the bulls continue to struggle near $0.4300, there might be another push below the $0.4000 level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level, with a negative angle.
Major Support Levels – $0.4100, $0.4000 and $0.3920.
Major Resistance Levels – $0.4250, $0.4300 and $0.4320.
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