Creditbit Price Technical Analysis – CRBIT/BTC Remains Neutral




Creditbit price maintained a neutral tone against the US Dollar and Bitcoin, and CRBIT/BTC may now continue to expand a range pattern in the near term.
Creditbit Price Technical Analysis

Key Highlights

  • Creditbit price after a dip moved back above the 0.00080BTC support against the Bitcoin.
  • There is likely an expanding triangle pattern with resistance at 0.0010BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap).
  • At the moment, the price is trading in a range with support at 0.00080BTC and resistance at 0.00088BTC.

Creditbit price maintained a neutral tone against the US Dollar and Bitcoin, and CRBIT/BTC may now continue to expand a range pattern in the near term.

Creditbit Price Support

There were no major moves in Creditbit price during the past 2-3 days, as it moved above 0.0008BTC against the Bitcoin. Recently, there was a dip below the 0.00080BTC support, but later the price was able to recover. Similarly, there was a dip below the $1 support against the US Dollar, but later it moved back up. At the moment, the price is trading with a stable tone, and remains above the 0.00080BTC support. Similarly, it is stable above $1 against the US Dollar.

Looking at the hourly chart, there is a range pattern forming with support at 0.00080BTC and resistance at 0.00088BTC. Moreover, there is an expanding triangle pattern with resistance at 0.0010BTC formed on the 1-day chart of CRBIT/BTC. The price is currently above the 23.6% Fib retracement level of the last decline from the 0.00093BTC high to 0.00065BTC low. However, it is struggling to clear the 0.00087BTC and 0.00088BTC resistance levels.

Creditbit Price Technical Analysis

We can also say that the price is struggling to close above the 61.8% Fib retracement level of the last decline from the 0.00093BTC high to 0.00065BTC low. Overall, we may see more ranging moves above 0.00080BTC before the next move.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is almost flat.

Hourly RSI – The RSI for the CRBIT/BTC pair is just above the 50 level, but with no real direction.

Intraday Support Level – 0.00080BTC

Intraday Resistance Level – 0.00087BTC

 

Charts from Coinmarketcap

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

Published by

Aayush Jindal

Aayush has spent over a DECADE as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets. He is a software engineer by profession, loves blogging and observing financial markets.

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