• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin price rise btc analysis
Nexo Logo

Bitcoin (BTC) Price Hits $6.5K Target: $6.85K Could Be The Real Test

Aayush Jindal by Aayush Jindal
3 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
  • Bitcoin price extended gains above the $6,400 and $6,440 resistance levels against the US Dollar.
  • The price tested the key $6,500 resistance level as discussed in yesterday’s analysis.
  • Besides, yesterday’s highlighted important bullish trend line is intact with support at $6,060 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair remains in a strong uptrend and it seems like the real test for the bulls could be near $6,850.

Bitcoin price is extending its rally above the $6,450 level against the US Dollar. BTC is following a solid bullish path and it seems like it could even test the $6,800 level in the near term.

Bitcoin Price Analysis

Yesterday, we saw a strong rise in bitcoin price above the $6,200 resistance area against the US Dollar. The BTC/USD pair even broke the $6,350 level and settled well above the 100 hourly simple moving average. As a result, the bulls are in control and they were successful in clearing a major resistance area near the $6,400 level. Earlier, there was a minor dip, but the $6,280 and $6,300 levels provided support. As a result, the price bounced back and broke the $6,450 level.

It recently tested the $6,500 level and is currently consolidating gains. An initial support is near $6,440, and the 23.6% Fib retracement level of the recent wave from the $6,245 low to $6,500 high. However, the main support is near the previous breakout zone at $6,400. Besides, the 50% Fib retracement level of the recent wave from the $6,245 low to $6,500 high is also near the $6,400 level to act as a strong support. Below $6,400, the price may decline back towards the $6,250 support area.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

More importantly, yesterday’s highlighted important bullish trend line is intact with support at $6,060 on the hourly chart of the BTC/USD pair. The pair is clearly in a strong uptrend and it seems like it could even break the $6,550 and $6,600 levels in the coming sessions. As a result, the main target for the bulls could near the $6,800 and $6,850 levels (as pointed out in one of the previous analysis with the daily chart).

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is gaining traction above the $6,400 level. There may be a couple of swing moves towards $6,400 or $6,300, but dips remain well supported. Only a close below the $6,000 pivot level and the 100 hourly SMA could start a strong correction.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Technical indicators:

Hourly MACD – The MACD is about to gain momentum in the bullish zone, with bullish signs.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is moving higher towards the 75 level.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Major Support Levels – $6,400 followed by $6,250.

Major Resistance Levels – $6,500, $6,600 and $6,800.

Tags: bitcoinbtc
Tweet123Share250ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Uptrend Vulnerable Unless It Surges Past $1,900

9 hours ago
Bitcoin

TA: Bitcoin Price Showing Early Signs of Fresh Downtrend, But $22.5K Is The Key

11 hours ago
TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

18 hours ago
bitcoin

Bitcoin Price Must Clear This Level If It Wants To See $28,000

20 hours ago
TA- Ethereum ETH Shows Bearish Signs, Eyes $1,700 As Nearest Support

TA- Ethereum ETH Shows Bearish Signs, Eyes $1,700 As Nearest Support

24 hours ago
Ethereum

TA: Ethereum Could Take Hit As The Bulls Show Weak Hands

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

World’s First Auto-Rebasing Layer 1 Blockchain Is Set for 2023 Release

August 19, 2022

StarBlock Token (STB) Is Now Available for Trading on LBank Exchange

August 19, 2022

LBank Exchange Will List BTCMININGNFT (BMN) on August 19, 2022

August 19, 2022

Investors’ Attention Turn from Sushi (SUSHI) and Holo (HOT) To Favorite Degrain (DGRN)

August 19, 2022

Smart and Social Web3 Platform Blockify Raises $2.2M

August 19, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.