Bitcoin Price Intraday Analysis: BTC/USD Reaches Key Support

Bitcoin price on Saturday found a key support area near $6,464 after closing on the same level the previous day. The BTC/USD today rose as much as 2.5 percent from the intraday low in an upside correction attempt. Yesterday, the pair had broken below a critical near-term ascending trendline to target 6466-fiat as its primary downside, as was predicted here. It was the same level at where traders went long towards 6500-6600-fiat area, causing a corrective bounce back. By the time the market reached the mid-European session, BTC/USD had established an…

BTC/USD Attempts for Triangle Resistance

Bitcoin on Friday added 7 percent gains to its prevailing near-term upside momentum as it broke through its interim bias conflict. The BTC/USD kickstarted the day backed by a strong but unusual uptrend from the previous day, which saw a $275-jump within a matter of 1-2 hours. The beginning of today’s Asian session simply saw the pair maintaining the bullish bias, while trending sideways. The price action showed that some traders were expecting BTC/USD to attempt a breakout above the triangle resistance. The pair formed its weekly high towards 6833-fiat, which…

Bitcoin Price Watch: BTC/USD Targets New Weekly High

Key Points Bitcoin price surged higher and broke the $6,540-50 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,495 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed well above the $6,580 pivot level and it could accelerate towards $6,840. Bitcoin price is gaining traction above $6,640 against the US Dollar. BTC/USD is likely to move further higher towards $6,840 and $6,880 if buyers remain in action. Bitcoin Price Analysis After a brief…

BTC/USD in Interim Bias Conflict

Bitcoin on Thursday appreciated with a modest 1.5 percent against the USD. The BTC/USD is consolidating sideways inside a giant triangular pennant, awaiting breakout any moment. In the last 24 hours, the pair somewhat repeated its price action from mid-September, flirting with 6500-pivot while being rangebound. We started with a modest jump from the previous day’s closing low at 6430-fiat and trended upside as traders entered their long positions to close them at expected intraday highs. During the European session, BTC/USD formed higher highs towards 6535-fiat only to fall prey…

Bitcoin Price Watch: BTC/USD is Following Bearish Bias Below $6,540

Key Points Bitcoin price recovered recently, but it failed to break the $6,540-50 resistance zone against the US Dollar. There is a crucial hurdle formed near $6,540 and two bearish trend lines on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair needs to break the $6,540 resistance and the 100 hourly SMA to gain momentum. Bitcoin price is trading below key resistances against the US Dollar. BTC/USD could retest the $6,400 and $6,350 supports before an upside move. Bitcoin Price Analysis There was a solid…

Bitcoin Price Technical Analysis: BTC/USD Confirms Inverse H&S

Bitcoin on Wednesday rose over 3.5 percent against the US Dollar on a bounce back from previous day’s low towards $6,330. The BTC/USD on 1H timeframe has just confirmed the completion of an inverse Head & Shoulder (IH&S) pattern with neckline situated near 6500-6515-fiat area. A buy stop order above the neckline has brought us a decent profit already. We are now in a breakout phase which traditionally has a probability of being false in case of an IH&S pattern. Waiting for a retrace could be ideal at this point of…

BTC/USD in Bear Flagpole Formation

Bitcoin on Tuesday depreciated more than 3 percent against the US Dollar after reversing from a bear flag top yesterday. The BTC/USD walked the day carrying the prevailing bearish sentiment on its shoulders. The early Asian trading session opened at 6518-fiat and didn’t wait much before dropping below key support areas around 6500-fiat and 6400-fiat. By the end of the mid-Asian session and the beginning of early European trading hours, BTC/USD had established its intraday low towards 6370-fiat. At the time of the press, the pair is consolidating sideways in…

BTC/USD Reverses from Bear Flag Top

Bitcoin on Monday depreciated more than 2 percent against the US Dollar from its bear flag top from Saturday. The BTC/USD kickstarted Asian trading session by consolidating sideways near-term between 6688-low and 6722-high. The pair in the absence of upside sentiment started losing positions to shorts. As a result, it fell as low as 6580-fiat at the beginning of the European trading session. Ever since, BTC/USD is attempting a weak bounce back, valued above 6600-level at the time of this writing. BTC/USD Technical Analysis The BTC/USD expects to either consolidate…

Bitcoin Price Intraday Analysis: BTC/USD Trending Sideways

The bitcoin price on Sunday paused its upside momentum to trend sideways against the US Dollar, fluctuating just about 2 percent between the trading range. BTC/USD over the last week had jumped from its previous weekly low near 6125-fiat to a new weekly high near 6840-fiat. Over the course of last 24 hours, the pair only managed to secure its recent gains while avoiding any bearish pullbacks. That said, the Asian trading session saw minimum momentum, a sentiment that rippled through the entire European trading hours. BTC/USD only formed lower low…

Bitcoin Price Weekly Analysis: BTC/USD Turned Short-term Bullish

Key Points Bitcoin price traded higher and cleared the $6,580-6,600 resistance zone against the US Dollar. There is a key bullish trend line in place with support at $6,550 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it could find support near the $6,600 and $6,550 levels. Bitcoin price climbed above the key $6,600 resistance against the US Dollar. BTC/USD needs to clear the $6,850 level to gain upside momentum in the near term. Bitcoin Price Analysis This past…