Bitcoin Price Analysis: BTC/USD Sights Set on $12,000?

MinerGate is a multicurrency mining pool with the easiest mining software, reliable 24/7 support service and helpful community at your disposal. Start mining now from your PC

Bitcoin has formed lower highs and found support at the $9,300 mark to create a descending triangle pattern on its 4-hour time frame. The price just broke through the resistance to signal that an uptrend is in the works.

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside or that bearish pressure is still in play. Price is closing in on the 200 SMA dynamic inflection point, so this might hold as resistance around the $10,700 mark. A…

Source link

Related Posts

  • 77 BTC, ETH/ Technical analysis price forecast 29 jan Hello! I make Bitcoin, XRP (Ripple) & other crypto technical analysis price predictions based on charts.
    Tags: analysis, price, bitcoin
  • 62
    Bitcoin recently busted out of its descending triangle pattern on the 4-hour time frame and is pulling back for a retest of resistance. This happens to line up with the 38.2% Fibonacci retracement level around $11,100. A larger correction could last until the 50% level that lines up with the…
    Tags: sma, $, resistance, bitcoin, indicate, longer-term, path, point, inflection, dynamic
  • 60
    Bitcoin broke below the neckline of its double top on the 4-hour time frame to signal that a downtrend is in the works. The price has pulled up to the 38.2% level that lines up with the broken support around $10,500. This is also in line with the moving averages’…
    Tags: bitcoin, price, sma, dynamic, inflection, longer-term, indicate, resistance, path, downside
  • 57
    Bitcoin has formed lower highs and higher lows to consolidate inside a symmetrical triangle on its 1-hour time frame. This is right around the middle of the descending channel seen on the same chart.The 100 SMA is still below the longer-term 200 SMA to indicate that the path of least…
    Tags: bitcoin, triangle, sma, longer-term, indicate, path, resistance, downside, source, link
  • 57
    Bitcoin Cash has formed a descending channel on its 4-hour time frame with its lower highs and lower lows since last month. Price is currently testing the channel resistance and might be ready to resume its slide.The 100 SMA recently crossed below the longer-term 200 SMA to indicate that the…
    Tags: resistance, sma, lower, bitcoin, price, pressure, link, source, dynamic, downside
READ MORE  This New Ethereum Software Client Is Built With Enterprises in Mind

Leave a Reply

Your email address will not be published. Required fields are marked *