Bitcoin Price Watch: BTC/USD Buyers Could Struggle Near $6,620

Key Points Bitcoin price slowly recovered after trading as low as $6,249 against the US Dollar. There is a bearish flag forming with current resistance at $6,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to face heavy selling interest near the $6,600 and $6,620 resistance levels. Bitcoin price recovered above the $6,420 level against the US Dollar. However, BTC/USD buyers are likely to struggle near the $6,620 resistance zone. Bitcoin Price Analysis Yesterday, we saw a monster decline from well above…

Bitcoin (BTC) Price Watch: More Bears Waiting to Join In?

Bitcoin Price Key Highlights Bitcoin price recently made a sharp tumble, breaking below an ascending trend line connecting the lows since mid-August. Applying the Fib retracement tool on the latest swing high and low shows that the 61.8% level lines up with the broken support. Technical indicators are suggesting a potential pickup in bullish momentum. Bitcoin price could be ready to make a pullback from its recent slide, and the Fib tool shows potential resistance levels. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to indicate…

Bitcoin Price Watch: BTC/USD Breakdown Towards $6,000 Looks Real

Key Points Bitcoin price tumbled and broke many supports like $7,000, $6,800 and $6,560 against the US Dollar. There was a break below a declining channel with support at $6,790 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has moved into a bearish zone and upsides are now likely to face sellers near $6,560 and $6,800. Bitcoin price plummeted below the $6,800 and $6,560 supports against the US Dollar. BTC/USD could accelerate declines if sellers push the price below $6,200. Bitcoin Price Analysis After…

Ethereum (ETH) Price Watch: Bears Back in the Game!

Ethereum Price Key Highlights Ethereum made a downside break from consolidation to confirm that bears are back to push price lower. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to carry on than to reverse. The gap between the two has slightly narrowed, though, indicating a possible slowdown in selling pressure. RSI is still heading south, though, so there may be some bearish momentum left. However,…

Bitcoin (BTC) Price Watch: Sharp Tumble on Resistance Test, Goldman Sachs Update

Bitcoin Price Key Highlights Bitcoin price slumped below its short-term rising wedge after also hitting the resistance on a larger wedge formation. Price could set its sights on the long-term support around $5,800 to $6,000 from here. Technical indicators are still reflecting the presence of bullish pressure, though. Bitcoin price made a downside break from a short-term consolidation pattern and is setting its sights back on the long-term floor. Technical Indicators Signals The 100 SMA recently crossed above the longer-term 200 SMA to indicate that the path of least resistance…

Bitcoin Price Watch: BTC/USD’s Resistance Turned Support

Key Points Bitcoin price climbed further higher and tested the $7,400 resistance area against the US Dollar. There is a major ascending channel in place with support at $7,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could dip a few points, but the previous resistance near $7,300-25 is likely to hold losses. Bitcoin price traded to a new weekly high near $7,405 against the US Dollar. BTC/USD is correcting lower, but dips near $7,290 and $7,325 remain supported. Bitcoin Price Analysis In the…

Ethereum (ETH) Price Watch: Back in Consolidation After Rejection at $300

Ethereum Price Key Highlights Ethereum price recently broke out of a small symmetrical triangle but has slumped back in consolidation. A larger symmetrical triangle has formed and is still intact while price tests support. Technical indicators suggest that the floor might still hold, but bullish pressure seems to be fading. Ethereum recently attempted to break past the $300 mark after a triangle breakout, but it has slumped back to consolidation. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA on this time frame to signal that the…

Bitcoin (BTC) Price Watch: Will Resistance Hold or Fold?

Bitcoin Price Key Highlights Bitcoin price has been on a steady climb recently and is closing in on a nearby resistance level. Price is still trading inside a falling wedge pattern on its daily chart and is about to test resistance around $7,500. Technical indicators suggest further bearish pressure, but there are some signs of bullish momentum. Bitcoin price is gearing up to test the top of its daily falling wedge, and technical indicators suggest that bears could return here. Technical Indicators Signals The 100 SMA is below the longer-term…

Bitcoin Price Watch: BTC/USD Facing Crucial Resistance Near $7,325

Key Points Bitcoin price stayed above the $7,200 support and made another upside attempt against the US Dollar. There is a short-term bullish trend line in place with support at $7,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is facing a solid resistance near the $7,325 and $7,330 levels. Bitcoin price is trading in a range above $7,200 against the US Dollar. BTC/USD must clear the $7,325 resistance for more gains in the near term. Bitcoin Price Analysis Yesterday, we discussed that bitcoin…

Monero (XMR) Price Watch: Major Upside Break on Bullish Forecasts

Monero Price Key Highlights Monero was previously trending lower beneath a descending trend line connecting the highs since conception. Price just recently busted through this trend line to signal that a long-term reversal is underway. Technical indicators are still reflecting the presence of selling pressure, though. Monero made a significant upside break from a major descending trend line to signal a huge reversal. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words,…