Bitcoin (BTC) Price Primed To Break $8.5K, Dips Remain Supported

Bitcoin price started a downside correction after trading close to $8,350 against the US Dollar. The price declined below the $8,000 support and tested the $7,600-7,630 support area. There is a short term bearish trend line forming with resistance near $8,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could retest the $7,600 support area before it could start a fresh increase above $8,200. Bitcoin price corrected lower recently below $8,000 against the US Dollar. However, BTC remains well bid above $7,600 and it…

Bitcoin (BTC) Price Flirts With Key Resistance: Upside Break Possible

Bitcoin price is facing a strong resistance near the $5,150 and $5,160 levels against the US Dollar. The price must break the $5,160 and $5,200 levels to start a strong rebound. There is a major bearish trend line forming with resistance near $5,160 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely preparing for the next break either above $5,200 or towards $4,950. Bitcoin price is trading near a couple of important hurdles against the US Dollar. BTC seems to be preparing for…

Ripple Price Analysis: XRP Bears Target $0.2800 Post Downside Break

Ripple price remained in a bearish zone and declined below the key $0.3060 support against the US dollar. Bears remain in action as they managed to push the price below the $0.3000 support. Yesterday’s highlighted important bearish trend line is intact with resistance at $0.3035 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently correcting higher, but bears remain in control below $0.3040 and $0.3060. Ripple price declined heavily and broke many supports against the US Dollar and bitcoin. XRP/USD is currently in…

Bitcoin (BTC) Price Watch: Rally Takes Break, But Not Likely Over

Bitcoin price climbed higher towards the $4,040 level before correcting lower against the US Dollar. The price declined below $4,000 and tested the key $3,940 support area. Recently, there was a break above a connecting bearish trend line with resistance at $3,970 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently moving lower, but it remains well supported near $3,940 and $3,920. Bitcoin price corrected gains recently below $4,000 against the US Dollar. BTC could bounce back as long as it is trading…

Bitcoin (BTC) Price Watch: Upside Break Inevitable Above $3,900

Bitcoin price is trading nicely above the $3,825 and $3,800 support levels against the US Dollar. The price is likely positioning for an upside break above the $3,880 and $3,900 resistance levels. Yesterday’s highlighted important bearish trend line is in place with resistance at $3,860 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could surge higher once it clears the $3,860 resistance and the 100 hourly SMA. Bitcoin price is setting up for the next key break against the US Dollar. BTC could either…

Bitcoin (BTC) Price Watch: Bullish Break Above $4,000 Looming

Bitcoin price is currently consolidating above the $3,820 and $3,840 supports against the US Dollar. The price placed in a positive zone, with a bullish angle towards the $4,000 resistance. There is a symmetrical triangle pattern formed with resistance at $3,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair will most likely break the $3,880 and $3,900 resistance levels to climb above or challenge $4,000. Bitcoin price is forming a bullish breakout pattern above the $3,800 support against the US Dollar. BTC could surge…

Ripple Price Weekly Analysis: XRP Likely Preparing For Next Upside Break

Ripple price tested the $0.3400 resistance area on a few occasions against the US dollar. The price failed to break the $0.3380-0.3400 resistance and declined below $0.3200. There is a crucial contracting triangle formed with resistance at $0.3140 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could dip to test the $0.3050 support area before it could break to the upside above $0.3150. Ripple price seems to be preparing for the next bullish break against the US Dollar and bitcoin. XRP/USD could rally once…

Bitcoin Price Weekly Analysis: BTC’s Bullish Break Looks Real Towards $4,500

Bitcoin price extended gains and broke the $3,950 and $4,000 resistance levels against the US Dollar. The price traded to a new 2019 high above $4,100 and it could continue to rise in the near term. There was a break above a major triangle pattern with resistance near $3,950 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair traded above the $4,150 resistance and it could accelerate towards $4,250 and $4,400. Bitcoin price climbed higher sharply above the $4,000 barrier against the US Dollar. BTC/USD…

Bitcoin Price Analysis: Bullish Setups Could Break Current Market Structure

The cryptomarket remains coiled as we lead into the weekend with no new highs and no new lows being established for bitcoin. However, it is nicely consolidating on lower time frames and hints toward the possibility of another leg up: Figure 1: BTC-USD, Hourly Candles, Consolidating Pennant The pattern shown in Figure 1 outlines a potential continuation pattern called a “bullish pennant.” It’s characterized by consolidating volume and consolidating price that yields lower highs and higher lows and has general upper/lower trendlines. This particular pennant is quite sizable as it…

Bitcoin Price Watch: BTC Bulls And Bears Lock Horns For Next Break

Bitcoin price spiked towards the $4,000 resistance, but failed once again versus the US Dollar. The price traded lower and broke the $3,950 and $3,940 support levels. There was a break below a connecting bullish trend line with support at $3,925 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported above $3,860 and the 100 hourly simple moving average. Bitcoin price is still facing a strong resistance near the $4,000 zone against the US Dollar. BTC bears and bulls locked horns as…