Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…

Bitcoin Price Watch: BTC/USD Remains Vulnerable Below 100 SMA

Key Points Bitcoin price failed to move above the $6,400-6,410 resistance area against the US Dollar. There is a key bearish trend line in place with resistance at $6,405 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading below the $6,410 resistance and the 100 hourly simple moving average. Bitcoin price is trading lower within range below $6,410 against the US Dollar. BTC/USD could revisit the $6,370 or $6,350 support levels if sellers gain control. Bitcoin Price Analysis Recently, there was a…

Bitcoin Price Watch: BTC/USD Forms Double Bottom Near $6,360

Key Points Bitcoin price declined recently and tested the $6,350-60 support area against the US Dollar. There is a major bearish trend line formed with resistance at $6,410 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely forming a double bottom pattern near the $6,350-60 support area. Bitcoin price bounced back sharply from $6,360 against the US Dollar. BTC/USD could accelerate higher once there is a break above the $6,410 resistance. Bitcoin Price Analysis Yesterday, there was a downside reaction from the $6,460…

Bitcoin Price Watch: Break Below $6,390 Could Accelerate Losses

Key Points Bitcoin price is trading above the important $6,390 support area against the US Dollar. Yesterday’s highlighted major bullish trend line is intact with support at $6,390 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price must stay above the $6,390 support to avoid a downside break. Bitcoin price is struggling to stay above $6,390 and $6,400 against the US Dollar. BTC/USD must clear the $6,430 and $6,450 resistance to climb higher. Bitcoin Price Analysis There was a slow and steady decline from the…

Bitcoin Price Watch: BTC/USD Bearish Within Range Below $6,450

Key Points Bitcoin price failed to move above the $6,450 and $6,460 resistance levels against the US Dollar. There is a key connecting bullish trend line in place with support at $6,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price must clear the $6,450 and $6,460 resistance levels to move into a positive zone. Bitcoin price mostly consolidated above $6,400 against the US Dollar. BTC/USD seems to be struggling to clear the $6,450 resistance area. Bitcoin Price Analysis There was yet another rejection noted…

Bitcoin (BTC) Price Watch: Stuck in This Short-Term Range

Bitcoin Price Key Highlights Bitcoin price is still treading sideways, right in the middle of its range visible on the 1-hour and 4-hour charts. Price has yet to break out of the current consolidation to show whether it would make a test of support or resistance. Technical indicators seem to be suggesting that a move towards the bottom of the range is due. Bitcoin price still seems to be waiting for directional clues as it moves sideways in the middle of a $600-sized range. Technical Indicators Signals The 100 SMA…

Bitcoin Price Watch: BTC/USD Remains Vulnerable Below $6,450

Key Points Bitcoin price extended losses and declined below the $6,450 support level against the US Dollar. Yesterday’s highlighted key bullish trend line was broken with support at $6,435 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price declined below the $6,400 support and the 100 hourly simple moving average. Bitcoin price is back to square one below $6,450 against the US Dollar. BTC/USD is now at a risk of more losses towards the $6,285 support. Bitcoin Price Analysis After three failed attempts to break…

Bitcoin Price Watch: BTC/USD Buyers Losing Grip Below $6,500?

Key Points Bitcoin price is still struggling to clear the key $6,520 resistance zone against the US Dollar. There is an important bullish trend line in place with support at $6,430 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of a bearish reaction towards the $6,400 or $6,340 support levels. Bitcoin price is slowly moving into a bearish zone below $6,480 against the US Dollar. BTC/USD could extend the current dip towards $6,340 if buyers lose control. Bitcoin Price…

Bitcoin Price Watch: BTC/USD Could Dip and Rip Above $6,520

Key Points Bitcoin price is consolidating below the $6,520 resistance level against the US Dollar. Yesterday’s highlighted key ascending channel is active with support at $6,430 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline a few points towards $6,400 or $6,380 before it climbs higher. Bitcoin price is currently trading in a range above $6,400 against the US Dollar. BTC/USD must break $6,520 to accelerate gains in the near term. Bitcoin Price Analysis During the past few sessions, there was hardly any…

Watch out Wall Street, Blockchain is Coming: Fmr. JPMorgan Exec.

Blockchain innovator and former JPMorgan head of commodities Blythe Masters spoke at the London Metal Exchange annual dinner during the LME Week to say that blockchain is coming to commodity markets to introduce heightened confidentiality, reduce paper waste, and improve provenance and productivity. Masters — who became managing director at JPMorgan at the age of 28 before becoming the head of global commodities — is not without her share of controversy in the financial space. She’s widely credited with creating a credit derivative vehicle known as the credit default swap, which…