Bitcoin and Bitcoin Cash post significant gains as tensions over Facebook’s Libra continue to simmer

Bitcoin was moving north of its critical $10,300 mark, following prolonged losses that were speculated to be attributed to Facebook’s controversy-riddled, Libra, a project that has been at the receiving end of a lot of criticism recently. The latest drop below the psychological level of $10k came a day after US President Donald Trump’s critique on […]
The post Bitcoin and Bitcoin Cash post significant gains as tensions over Facebook’s Libra continue to simmer appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price (BTC) Trading Near Inflection Point After Recent Recovery

Bitcoin price started a decent upside correction after trading as low as $9,784 against the US Dollar.
The price traded above the $10,500 and $10,800 resistance levels to start the recent recovery.
Yesterday’s highlighted major bearish trend line was breached with resistance near $10,680 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is now facing a strong resistance near the $11,000 and $11,100 resistance levels.

Bitcoin price started a strong recovery above $10,500 against the US Dollar. However, BTC is still struggling to settle above $11,000 and it could resume its decline in the near term.
Bitcoin Price Analysis
Recently, we saw a significant decline in bitcoin price below the $11,000 support against the US Dollar. The BTC/USD pair also spiked below the $10,000 support and settled below the 100 hourly simple moving average. A new monthly low was formed near $9,784 and the price recently started an upside correction. There was a strong upward move above the $10,300 and $10,500 resistance levels.
Moreover, the price traded above the 23.6% Fib retracement level of the last key drop from the $11,923 high to $9,784 low. Additionally, yesterday’s highlighted major bearish trend line was breached with resistance near $10,680 on the hourly chart of the BTC/USD pair. The pair even spiked above the 50% Fib retracement level of the last key drop from the $11,923 high to $9,784 low.
However, the price struggled to hold gains above the $11,000 resistance level. It seems like the $11,100 level and the 100 hourly SMA acted as a hurdle. Besides, the 61.8% Fib retracement level of the last key drop from the $11,923 high to $9,784 low also prevented gains. At the moment, the price is correcting gains below the $10,900 level. It seems like there is a breakout pattern forming with resistance near $11,100 on the same chart.
If there is a successful close above the $11,100 resistance and the 100 hourly SMA, there could be a convincing upward move towards the $11,500 resistance. Conversely, if there is no close above $11,000 and $11,100, the price is likely to resume its slide in the near term.

Looking at the chart, bitcoin price is clearly facing a strong resistance near the $11,000 and $11,100 levels. As long as the price is below $11,100 and the 100 hourly SMA, the bears remain in control. Therefore, BTC is likely to resume its downward move.
Technical indicators:
Hourly MACD – The MACD is about to move back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD settled above the 50 level, but it lacking momentum.
Major Support Levels – $10,500 followed by $10,000.
Major Resistance Levels – $11,000, $11,100 and $11,500.
The post Bitcoin Price (BTC) Trading Near Inflection Point After Recent Recovery appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market And Bitcoin Facing Many Hurdles: BCH, BNB, EOS, TRX Analysis

The total crypto market cap recovered after it dived towards the $250.0B support area.
Bitcoin price also corrected higher above the $10,500 and $10,800 resistance levels.
EOS price is currently consolidating above the $4.100 support area.
Binance Coin (BNB) settled below the $30.00 level and it is currently trading near $28.00.
BCH price is up more than 10% and it broke the $280 and $300 resistance levels.
Tron (TRX) price is slowly recovering and it recently broke the $0.0250 resistance area.

Bitcoin and the crypto market cap started a decent upside correction, but facing many hurdles. Ethereum (ETH), binance coin (BNB), BCH, ripple, tron (TRX), litecoin and EOS could resume their decline.
Bitcoin Cash Price Analysis
After a significant decline, BCH price found support near the $260 level against the US Dollar. The BCH/USD pair started a decent upward move and broke the $275 and $280 resistance levels. The price is up more than 10% and it recently broke the $300 resistance level.
The next resistance on the upside is near the $320 level. If the price fails to continue higher, it could decline once again towards the $280 support level in the near term.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price spiked towards the $4.000 support area during the recent slide. Recently, the price started an upside correction and moved above $4.100. The price is currently consolidating near $4.200, with a strong resistance near the $4.400 and $4.450 levels. On the downside, the $4.100 and $4.000 levels are important supports for the current wave.
Tron price declined heavily and even broke the $0.0240 support area. TRX price tested the $0.0230 level and it recently corrected higher. The price is now trading above the $0.0250 level, but it might struggle to move above the $0.0265 and $0.0272 resistance levels in the near term.
Binance coin (BNB) settled below the key $30.00 support area. BNB price is now consolidating near the $28.00 level and it could struggle to climb above the $28.50 and $29.20 resistance levels. The main resistances are near the $30.00 and $30.20 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp decline below the $300.0B support area. The market cap even broke the $280.0B support and moved close to the $250.0B support area. A swing low was formed near $254.0B and the market cap recently recovered higher. It broke the $260.0B and $270.0B levels, but the previous support near the $280.0B and $285.0B levels acted as a strong hurdle. The current technical structure suggests that there could be more declines in the market cap. Therefore, bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX are likely to struggle to continue higher.
The post Crypto Market And Bitcoin Facing Many Hurdles: BCH, BNB, EOS, TRX Analysis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple Price (XRP) Trading Near Make-or-Break Levels

Ripple price found support near $0.2960 and recently recovered higher against the US dollar.
The price traded above the $0.3100 resistance area, but it is struggling to break the $0.3200-0.3230 area.
The bulls are struggling to gain strength above a bearish trend line with resistance at $0.3185 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price must gain strength above $0.3200 and $0.3230 to continue higher in the near term.

Ripple price is slowly recovering against the US Dollar, while bitcoin gained nearly 8%. XRP price is now facing a strong resistance near $0.3230, above which it could continue higher.
Ripple Price Analysis
Yesterday, we saw a sharp decline in bitcoin and Ethereum, pushing ripple price below $0.3200 against the US Dollar. The XRP/USD pair even spiked below the $0.3000 support and settled below the 100 hourly simple moving average. A new swing low was formed near $0.2960 and the price recently started an upside correction. It managed to move above the $0.3040 and $0.3050 resistance levels.
Moreover, there was a break above the 23.6% Fib retracement level of the last drop from the $0.3505 high to $0.2959 low. However, the price is facing a strong resistance near the $0.3200 and $0.3210 levels. Additionally, the bulls struggle to gain strength above a bearish trend line with resistance at $0.3185 on the hourly chart of the XRP/USD pair.
The 50% Fib retracement level of the last drop from the $0.3505 high to $0.2959 low is also near the $0.3230 level to act as a strong resistance. Above $0.3230, the 100 hourly SMA is positioned near the $0.3250 level. Therefore, the bulls are likely to struggle to gain strength above $0.3230 and the 100 hourly SMA. Should there be a successful close above $0.3230 and the 100 hourly SMA, ripple price could recover towards the $0.3500 level.
On the other hand, if the price fails to gain above $0.3200 or $0.3230, it could resume its decline. An immediate support is near the $0.3100 level, below which the price could test the $0.3000 support area.

Looking at the chart, ripple price is currently trading near a crucial resistance at $0.3200-0.3230. It could either continue higher above $0.3230 and $0.3250 or start a fresh decline towards $0.3000. Should there be a downside break below $0.3000, the price may perhaps decline towards the $0.2850 support level in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is likely to move back into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just below the 50 level.
Major Support Levels – $0.3100, $0.3000 and $0.2950.
Major Resistance Levels – $0.3200, $0.3230 and $0.3250.
The post Ripple Price (XRP) Trading Near Make-or-Break Levels appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Remains Sell Despite Recent Bitcoin Recovery

ETH price traded as low as $212 and recently corrected higher against the US Dollar.
The price traded above the $220 and $225 resistance levels, but it is still trading in a bearish zone.
There is an ascending channel forming with resistance near $240 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could resume its slide if it struggles to clear the $240 resistance area in the near term.

Ethereum price is slowly recovering versus the US Dollar, along with bitcoin. ETH price is likely to face a lot of hurdles near the $240 and $242 resistance levels.
Ethereum Price Analysis
Recently, we saw a sharp decline in bitcoin, Ethereum, ripple and other major altcoins against the US Dollar. ETH/USD even broke the $240 and $230 support levels. The pair traded close to the $210 level and settled well below the 100 hourly simple moving average. A swing low was formed near the $212 level and the price recently started an upside correction.
More importantly, bitcoin price gained nearly 8%, sparking a recovery in ETH above the $220 resistance. Moreover, the price broke the 23.6% Fib retracement level of the last key drop from the $270 high to $212 low. It even traded above the $230 level, but struggled to clear the $235 resistance. At the outset, there is an ascending channel forming with resistance near $240 on the hourly chart of ETH/USD.
The channel resistance is also near the 50% Fib retracement level of the last key drop from the $270 high to $212 low. Therefore, the price is likely to face a strong resistance near the $240 area. A successful close above the $240 resistance may push the price towards the $250 and $255 levels. The 100 hourly SMA is also positioned near the $255 level and a bearish trend line on the same chart to act as a resistance.
Conversely, if there is no upside break above the $240 resistance, the price may resume its slide. An immediate support is near the $225 level, below which it could test the $220 level. If there are more losses, the price could revisit the $212 swing low in the near term.

Looking at the chart, Ethereum price is slowly recovering, but there are many hurdles on the upside near $235, $240 and $255. Therefore, sellers remain in action in the short term unless the bulls gain strength above $240 and $255.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD failed to stay above the 50 level and is currently moving lower.
Major Support Level – $220
Major Resistance Level – $240
The post Ethereum Price (ETH) Remains Sell Despite Recent Bitcoin Recovery appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price (BTC) Breaks Key Support: $8,800 Bearish Target Could Be Real

Bitcoin price extended its declined and broke the key $10,800 support level against the US Dollar.
The price even broke the last swing low and a major support area near the $10,500 level.
There is a key bearish trend line forming with resistance near $10,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price remains in a strong target and it seems like the $8,880 bearish target seems real.

Bitcoin price started a fresh decline below the $10,800 support against the US Dollar. BTC is currently correcting higher, but the $10,800 level is likely to act as a sell zone.
Bitcoin Price Analysis
In the past few days, there were heavy losses in bitcoin price below the $11,000 support against the US Dollar. The BTC/USD pair even broke the key $10,800 support area to extend its decline. Finally, there was a break below the last swing low and a major support area near the $10,500 level. The price settled below the $10,800 level and the 100 hourly simple moving average. A swing low was formed near the $9,784 level and the price is currently correcting higher.
More importantly, it seems like the $8,880 bearish target (as discussed in the weekly forecast) is now in sight. In the short term, there could be an upside correction above $10,200. The price is currently trading near the 23.6% Fib retracement level of the recent drop from the $11,466 high to $9,785 low. However, there are many resistance levels on the upside near the $10,500 and $10,600 levels.
Moreover, there is a key bearish trend line forming with resistance near $10,650 on the hourly chart of the BTC/USD pair. The 50% Fib retracement level of the recent drop from the $11,466 high to $9,785 low is just below the trend line. The main resistance is near the $10,800 level (the previous support area). To start a strong recovery, the price must settle above $10,800 level.
On the downside, an immediate support is near the $10,000 level, below which the price may retest the $9,780 level in the near term. If there are more losses, the price may continue to slide towards $9,500 and $9,200.

Looking at the chart, bitcoin price is clearly in a downtrend from the $13,200 yearly swing high. If the bears remain in action, it seems like the $8,880 bearish target (as discussed in the weekly forecast) could be test in the coming days.
Technical indicators:
Hourly MACD – The MACD is likely to move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still well below the 40 level.
Major Support Levels – $10,000 followed by $9,750.
Major Resistance Levels – $10,500, $10,620 and $10,800.
The post Bitcoin Price (BTC) Breaks Key Support: $8,800 Bearish Target Could Be Real appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market and Bitcoin Signaling More Downsides: BCH, EOS, TRX, ADA Analysis

The total crypto market cap is down more than $50.0B and it recently tested the $255.0B support.
Bitcoin price is down more than 10% and even spiked below the $10,000 support level.
EOS price broke the $4.50 support level and traded towards the $4.20 support zone.
BCH price is down around 20% and it even traded below the $300 support level.
Tron (TRX) price jumped around 10% and is currently trading above $0.0350.
Cardano (ADA) price broke the key $0.0700 and $0.0600 support levels.

Bitcoin price declined heavily below $10,500 and the crypto market cap is down around $50.0B. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB declined between 10%-25%.
Bitcoin Cash Price Analysis
After this past week’s downside break, bitcoin cash price started a major decline below the $360 support against the US Dollar. The BCH/USD pair even broke the $320 and $300 support levels to enter a major downtrend. The price is down around 20% and it is currently trading near the $280 level.
If the price continues to move down, it could trade towards the next major support near the $250 level. On the upside, the previous supports near $300 and $320 are likely to act as hurdles in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price was down more than $2.00 in the past few days. The price even broke the $5.000 and $4.500 support levels. It traded towards the $4.200 support level and it is currently correcting higher. On the upside, there is a strong resistance forming near the $4.500 and $4.600 levels.
Tron price is down around 15% and it recently broke the key $0.0320 and $0.0300 support levels TRX price even traded below the $0.0260 support and tested the $0.0240 level. It seems like the price may extend losses towards the $0.0225 support area.
Cardano price is under a lot of pressure and it recently broke the $0.0700 and $0.0600 support levels. ADA price is down 13% and is trading near the $0.0580 level. The next key support is near the $0.0560 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a significant downside break below the $315.0B and $300.0B support levels. The market cap declined more than $50.0B recently and moved towards the $255.0B and $250.0B support levels. A swing low was formed near $254.0B and the market cap is currently correcting higher. However, there are many important resistances on the upside near the $275.0B and $280.0B levels. Therefore, an upside recovery in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins is likely to remain capped in the near term.
The post Crypto Market and Bitcoin Signaling More Downsides: BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple Price (XRP) Holding Ground While Ethereum & Bitcoin Takes Hit

Ripple price broke the key $0.3200 support level to extend losses against the US dollar.
The price even spiked below the $0.3000 support area and traded to a new monthly low at $0.2955.
There is a major bearish trend line forming with resistance at $0.3200 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could correct higher, but it is likely to face sellers near $0.3150 and $0.3200.

Ripple price remained in a bearish zone against the US Dollar, but recovered vs bitcoin. XRP price might continue to decline and it is likely to test the $0.2850 support area.
Ripple Price Analysis
Recently, there were heavy losses in bitcoin and Ethereum, but ripple price declined less against the US Dollar. The XRP/USD pair remained in a bearish zone and broke the key $0.3200 support level. The pair even broke the $0.3000 support level and settled well below the 100 hourly simple moving average. Finally, the price traded to a new monthly low at $0.2955 and it is currently consolidating losses.
An immediate resistance on the upside is near the $0.3050 and $0.3080 levels. The 23.6% Fib retracement level of the recent decline from the $0.3510 high to $0.2955 low is also near the $0.3080 level. If there is an upside break above the $0.3080 level, the price could trade towards the $0.3200 resistance. The stated $0.3200 level was a support earlier and now it is likely to act as a strong resistance.
Moreover, there is a major bearish trend line forming with resistance at $0.3200 on the hourly chart of the XRP/USD pair. The 50% Fib retracement level of the recent decline from the $0.3510 high to $0.2955 low is the next resistance near the $0.3220 level. Therefore, to start a decent recovery, the price must move back above the $0.3200 and $0.3220 resistance level.
On the other hand, if the price fails to correct above $0.3200 or $0.3220, there could be more losses. An immediate support is near the $0.2950 level, below which the price may even break the $0.2900 level.

Looking at the chart, ripple price is clearly trading in a bearish zone below $0.3200 and the 100 hourly SMA. In the short term, there could be a minor upward move, but the bulls might struggle near the $0.3200 level. It seems like the price could extend losses and test the $0.2850 support level before a fresh recovery.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 40 level.
Major Support Levels – $0.2950, $0.2900 and $0.2850.
Major Resistance Levels – $0.3080, $0.3200 and $0.3220.
The post Ripple Price (XRP) Holding Ground While Ethereum & Bitcoin Takes Hit appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price Dives 20%: ETH/BTC Breakdown The Main Driver

ETH price declined heavily below key supports against the US Dollar and bitcoin.
The price broke the key $260, $230 and $222 support levels to register 20% losses.
There was a break below a short term declining channel with support near $227 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is heading towards the $200 support area, where the bulls may take a stand.

Ethereum price fell significantly below $250 and 0.0250 versus the US Dollar and bitcoin respectively. ETH price remains at a risk of more losses if it breaks $200.
Ethereum Price Analysis
In the past three sessions, there was a massive decline in bitcoin, Ethereum, ripple and other major altcoins against the US Dollar. ETH/USD started a solid drop after it broke the key $275 and $260 support levels. The price declined more than 20% and even broke the $230 support area. Moreover, the price broke the $222 support and settled well below the 100 hourly simple moving average. The price traded close to the $210 level and formed a new monthly low at $212.
It is currently trading with a bearish angle, with an initial resistance near the $220 level. The 23.6% Fib retracement level of the recent decline from the $240 high to $212 low is near the $219 level to act as a resistance. Besides, there was a break below a short term declining channel with support near $227 on the hourly chart of ETH/USD. The same channel might act as a resistance near the $225 level.
The 50% Fib retracement level of the recent decline from the $240 high to $212 low is also near $226 to act as a significant resistance. To start a decent recovery, the price has to move back above the $230 pivot level. In the mentioned case, it could even recover towards the $240 level.
Conversely, if there is no upside recovery above $220 or $225, the price could extend losses. An initial support is near the $212 low, below which the price is likely to test the $200 support area. The bulls are likely to appear near the $200 level and defend more losses.

Looking at the chart, Ethereum price is under a lot of pressure vs the US Dollar and bitcoin. The main support is near the $200 level. If the bulls fail to defend the $200 support, there are chances of more losses in the near term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now near the extreme oversold readings.
Major Support Level – $200
Major Resistance Level – $225
The post Ethereum Price Dives 20%: ETH/BTC Breakdown The Main Driver appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin (BTC) Price Weekly Forecast: Risk of Extended Drop To $8,880

There was a major drop in bitcoin price after it broke the $12,000 support against the US Dollar.
The price is currently holding the key $10,800 support area, but it remains at a risk of more losses.
There was a break below a key bullish trend line with support at $12,100 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could extend losses towards the $8,880 level if there is a successful break below $10,800.

Bitcoin price is holding the key $10,800 support area against the US Dollar. Having said that, BTC remains at a risk of more losses if there is no break above $11,600 and $12,000.
Bitcoin Price Weekly Analysis (BTC)
This past week, bitcoin price declined heavily below the $12,200 and $12,000 support levels against the US Dollar. The BTC/USD pair even broke the $11,500 support and settled below the 100 simple moving average (4-hours). However, the bulls were able to hold the key $10,800 and $11,000 support levels (as forecasted in the recent analysis).
The recent drop from the $13,182 swing high was initiated once there was a break below a key bullish trend line with support at $12,100 on the 4-hours chart of the BTC/USD pair. The pair even broke the 50% Fib retracement level of the upward move from the $9,708 low to $13,182 swing high. It opened the doors for more losses and the price even spiked below the $11,000 level.
However, the $10,800 support level holds the key and is protecting more losses. Moreover, there was no close below the 61.8% Fib retracement level of the upward move from the $9,708 low to $13,182 swing high. On the upside, an initial resistance is near the $11,500 level and the 100 simple moving average (4-hours). Above the 100 SMA, the price could face a strong resistance near the $12,000 level.
If there is a successful close above $12,000, the price could start a fresh increase towards the $12,400 and $12,500 levels. Conversely, if the bulls fail near $11,500 or $12,000, there could be another dip. More importantly, there is a risk of a downside break below the key $10,800 support area. In the mentioned case, the price could test the $8,880 support area. It represents the 1.236 Fib extension level of the upward move from the $9,708 low to $13,182 swing high.

Looking at the chart, bitcoin price is clearly struggling to rebound above $12,000 and it could extend losses towards the $8,880 level if there is a successful break below $10,800.
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 well below the 50 level.
Major Support Level – $10.800
Major Resistance Level – $12,000
The post Bitcoin (BTC) Price Weekly Forecast: Risk of Extended Drop To $8,880 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Price (ETH) Holding Crucial Support: Next Key Break Nearby

ETH price remained in a bearish zone after it settled below the $280 support against the US Dollar.
The price declined heavily and recently tested the key support area near the $260 level.
There is a crucial bearish trend line forming with resistance near $282 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair is likely to recover as long as it is trading above the key $260 support area.

Ethereum price is struggling to recover after a massive decline against the US Dollar and bitcoin. ETH price could start a decent upside correction once it breaks $272 and $282.
Ethereum Price Weekly Analysis
This past week, there were sharp losses in bitcoin and Ethereum against the US Dollar. The ETH/USD pair failed to hold gains and declined below the key $285 and $280 support levels. Moreover, there was a close below the $280 support and the 100 simple moving average (4-hours). The price even broke the $270 support area and tested the next key support area near the $260 level.
In the past two days, there were two attempts to break the $260 support, but sellers struggled to gain strength. At the moment, the price is consolidating above $260 and is trading inside a contracting triangle with resistance near the $272 level. The 23.6% Fib retracement level of the downward move from the $319 high to $260 low is also near the $274 level to act as a resistance. However, the main resistance on the upside is near the $280 and $284 levels.
Moreover, there is a crucial bearish trend line forming with resistance near $282 on the 4-hours chart of ETH/USD. Above the trend line, sellers might put up a fight near the $290 level and the 100 simple moving average (4-hours). Additionally, the 50% Fib retracement level of the downward move from the $319 high to $260 low is near the $290 level. Therefore, an upside break above $282 and $290 won’t be easy.
On the downside, the main support is near the $260 level. If there is a downside break below the $260 support, the price is likely to accelerate losses below the $250 level in the coming days.

The above chart indicates that Ethereum price is holding the main support near $260. As long as there is no daily close below $260, there are chances of a decent recovery towards the $282 and $290 levels.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone.
4 hours RSI – The RSI for ETH/USD is currently recovering above 30 and it may test the 50 level.
Major Support Level – $260
Major Resistance Level – $282
The post Ethereum Price (ETH) Holding Crucial Support: Next Key Break Nearby appeared first on NewsBTC.
Source: New feedNewsBTC.com

Future of crypto-assets will be prosperous, with or without Libra

It has been yet another eventful week for “magic internet money.” Bitcoin, which leads the cryptocurrency bandwagon in the financial market, has been in the headlines recently owing to two key comments. First, it was the Chairman of the Federal Reserve talking about it as an alternative to Gold. Second, it was the President of […]
The post Future of crypto-assets will be prosperous, with or without Libra appeared first on AMBCrypto.
Source: AMB Crypto

Did Facebook’s Libra put Bitcoin and the cryptocurrency industry in the regulators’ crosshairs?

What’s your party trick? Is it the way you pop open a beer bottle? The handstand on the dance floor? Or your smooth-talking skills? If you are a regulator however, your party trick is a full-on crackdown, while everyone is enjoying a bullish party. This past week all eyes were firmly affixed, first on Capitol […]
The post Did Facebook’s Libra put Bitcoin and the cryptocurrency industry in the regulators’ crosshairs? appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price (BTC) Remains Vulnerable, Risk of More Losses

Bitcoin price tested the $11,000 support level and recently recovered higher against the US Dollar.
The price recovered close to the $11,900, but upsides remain capped below $12,000.
There is an ascending channel forming with support near $11,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could start a strong decline if there is break below $11,500 and $11,400 in the near term.

Bitcoin price is facing an uphill task with many hurdles near $12,000 against the US Dollar. BTC remains vulnerable as long as there is no close above the $12,000 pivot level.
Bitcoin Price Analysis
Recently, we saw a major decline in bitcoin price below the $11,500 level against the US Dollar. The BTC/USD pair even traded towards the $11,000 support level and settled below the 100 hourly simple moving average. A swing low was formed near the $10,990 level and recently there was an upside correction. There was a break above the $11,500 level and the 23.6% Fib retracement level of the major drop from the $13,195 high to $10,990 low.
Moreover, the price even broke the $11,800 level and traded close to the $11,900 level. However, the upside remained capped below the $12,000 level. The price even failed to test the 50% Fib retracement level of the major drop from the $13,195 high to $10,990 low. Besides, the price remained below the 100 hourly SMA and $12,000. It is currently trading lower below the $11,800 level.
There is an ascending channel forming with support near $11,550 on the hourly chart of the BTC/USD pair. The pair is currently trading near the channel support, below which the price is likely to test $11,500. If there are more losses, the price may even break the $11,400 level and extend losses. The main support is near the $11,000 level, below which the last line of defense is near the $10,880 level.
On the upside, there are many hurdles near the $11,800 and $12,000 levels. To start a fresh increase, the price must close above the $12,000 resistance and the 100 hourly SMA. The next resistance could be near $12,250 and the 61.8% Fib retracement level of the major drop from the $13,195 high to $10,990 low.

Looking at the chart, bitcoin price is correcting struggling to continue higher above $11,800 and $11,900. Therefore, there is a risk of a downside break below the $11,500 and $11,400 levels in the near term.
Technical indicators:
Hourly MACD – The MACD is moving back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining and is below 50 level.
Major Support Levels – $11,500 followed by $11,400.
Major Resistance Levels – $11,800, $12,000 and $12,250.
The post Bitcoin Price (BTC) Remains Vulnerable, Risk of More Losses appeared first on NewsBTC.
Source: New feedNewsBTC.com

Boom and Bust: Is the Chair of the Federal Reserve more influential than Trump on Bitcoin’s price?

Who is the real Commander-in-Chief? In the cryptocurrency market, it’s not Donald J. Trump. TRUMP TRIPS POTUS finally tweeted about Bitcoin, and it had absolutely no effect. Considering the daily Twitter-tirade that Donald Trump spews, which covers everything from an all-out war with Iran to Robert Pattinson, a tweet about the $320 billion market was […]
The post Boom and Bust: Is the Chair of the Federal Reserve more influential than Trump on Bitcoin’s price? appeared first on AMBCrypto.
Source: AMB Crypto