Bitcoin Forecast

After an eye-raising decline spell over the week, Bitcoin price made a recovery above $5,000 and $5,500 against the USD. The price looks to be forming a decent support above the $5,000 mark. However, it is facing resistances near the 100 hourly simple moving average (SMA). During the recent upward trend, there was a break above a connecting bearish trend line. At the time, the resistance stood at $5,325 on the BTC/USD pair hourly chart. Although bitcoin faces a struggle…

Bitcoin is currently stuck in a range between $8300 and $9200, with no exact support barriers. The two levels are acting as heavy support and resistance, respectively. As per the records, anytime bitcoin sees a massive movement to either the upside or the downside, traders’ reaction triggers high liquidity levels. Many traders expect the BTC market to continue its bearish structure in the short term. Before that, most traders think a BTC relief rally is highly likely to occur. Analysts…

Currently, the BTC/USD pair is moving from its weekly drop at $8512. However, the Bitcoin price faces many significant barriers close to $9k, and it might turn to the downside. This week, a powerful downward move to the downside under $9k and $8.8k occurred. The pair even continued under the support at $8680 and established under the 100 hourly SMA. The pair then formed a new low close to $8512, and it is currently correcting losses. A Look at the…

Recently the BTC/USD pair has been striving to remain over $9,750 but later fell towards the $9.5k support. BTC price can plunge even more profound, even below the $9.5k support level.   The pair met a barrier at $9,880 but began a downward drop from the $9,847, falling below the $9750 support. It broke even further to below $9,680 and the 100 hourly SMA.  The drop paved the way for even harsher price declines towards the $9.5k support zone where buyers…

The last 24 hours saw the cryptocurrency market make a surprising recovery. As a result, BTC flat-line closed at $9,650. Bitcoin's price surged further settling at $9,945 a few hours ago. Following the quick two percent rise from $9.7k, BitMEX experienced a  push for the liquidation of short-side positions valued at $15 million. This push emanated from traders de-levering their positions in the last two days following Bitcoin's stagnation. Shifting Focus Mexbt,  a renowned trader, avers that BTC attainment of…

BTC/USD price kept above the $9,350 support. Although the price is currently recovering, it needs to push past $9,825 to initiate a substantial upside. After closing below $9.5k, the price moved further beneath the $9.4k level. However, it later stabilized over the $9,340 and $9,350 marks, forming a swing low close to $9,344 before heading into recovery. Again, studying the pair's hourly chart shows a surge over a contracting triangle whose barrier is about $9,665. Presently, the pair has settled…

The performance of the BTC/USD pair is thriving in a way that its price started increasing sharply over $9.8k and $10k. The ongoing consolidation could soon see the price rally over $10.2k for an immediate bullish wave. On the previous day, BTC attained a fresh weekly low at $9,483. An upside move began later over barriers at $9.7k and $9.8k. The buyers successfully built momentum over a connecting declining trend line, $10k, and the 100 hourly SMA. Hence, the price…

The price of BTC/USD is yet to surpass the $10.2k mark.  Since the pair experienced a massive decline under $9.8k,  it is debatable to say there might be a risk of retracement. On the previous day, a notation was made regarding the crucial barrier zone which currently stands at $10.2k. There were two trials to surge past barriers at $10.2k and $10.3k. However, several hurdles saw buyers fail to gain momentum over $10.2k. The pair was vaguely successful in forming…

The BTC/USD price recently fell to the weekly low at $9,483 but later increased to around $9.7k. However, this price recovery is still under immense barriers at $9,950 and $10k.  A day earlier, the price plummeted highly, even going below the 9.6k support level. It further dropped under the $9.5k(the then weekly low) but settled well under the 100 SMA.  Afterward, this price continued to drop, hitting $9,483, and surged fast to $9.5k and $9.6k levels. There was a significant…