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Creditbit Price Technical Analysis – CRB/BTC To Retest 0.00022BTC

Aayush Jindal
Aayush Jindal
4 years ago
2 mins read
Creditbit Price Technical Analysis CRB BTC

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Key Highlights

  • Creditbit price is slowly moving back lower and broke the 0.00028BTC support against the Bitcoin.
  • There is a support trend line forming at 0.00025BTC on the 7-day chart of CRB/BTC (data feed from Coinmarketcap), which might be breached soon.
  • The price might decline further and retest the 0.00022BTC support area in the near term.

Creditbit price is again moving lower against the US Dollar and Bitcoin, and CRB/BTC could face further pressure for a test of 0.00022BTC.

Creditbit Price Support

Recently we saw a rise in Creditbit price towards the 0.00036BTC level against the Bitcoin. Later, the price faced resistance and started a downside move below 0.00035BTC. The move was such that the price broke the 0.00030BTC support and the 38.2% Fib retracement level of the last wave from the 0.00022BTC low to 0.00036BTC high. It ignited further losses below 0.00028BTC and the price is now remains at a risk of more declines.

On the downside, there is a support trend line forming at 0.00025BTC on the 7-day chart of CRB/BTC (data feed from Coinmarketcap). It is currently holding losses and preventing sharp losses below 0.00025BTC. However, the price remains at a risk of a break below 0.00025BTC. Once it breaks 0.00025BTC, there can be a push towards the all-important 0.00022BTC support area.

Creditbit Price Technical Analysis CRB BTC

The 76.4% Fib retracement level of the last wave from the 0.00022BTC low to 0.00036BTC high might be tested in the near term. If sellers gain pace, there is even a chance of a test of 0.00020BTC. On the upside, the broken support at 0.00028BTC might act as a resistance. Recoveries above 0.00028BTC might put the price back in the bullish zone above 0.00030BTC.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair has moved in the bearish zone.

Hourly RSI – The RSI for the CRBIT/BTC pair is below the 50 level and heading lower.

Intraday Support Level – 0.00022BTC

Intraday Resistance Level – 0.00028BTC

 

Charts from Coinmarketcap

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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