• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Trading Near Make-or-Break Levels: Here’s Why $9,400 Holds The Key

Aayush Jindal by Aayush Jindal
9 months ago
in Bitcoin, Technical analysis
Reading Time: 2min read
Bitcoin
Advertisement

Bitcoin is trading nicely above the $9,100 and $9,200 support levels against the US Dollar. BTC is forming a crucial breakout pattern and it must break $9,400 for a sustained upward move.

  • Bitcoin is trading above the key $9,120 support level and the 100 simple moving average (4-hours).
  • The price is facing a strong resistance near the $9,400 and $9,500 levels.
  • There is a crucial breakout pattern forming with resistance near $9,380 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair must settle above the $9,400 and $9,500 levels for a strong rally.

Bitcoin is Facing Major Hurdles

This past week, bitcoin made an attempt to surpass the main $9,500 resistance levels against the US Dollar, but it failed. BTC formed a weekly high at $9,480 and later started a downside correction.

There was a break below the $9,400 and $9,300 support levels. The price even broke the 50% Fib retracement level of the upward move from the $8,912 low to $9,480 high. Finally, the price spiked below the $9,200 support and the 100 simple moving average (4-hours).

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

BTC tested the main $9,120 support area, where the bulls appeared. It seems like the 61.8% Fib retracement level of the upward move from the $8,912 low to $9,480 high acted as a strong support.

Bitcoin

Bitcoin price holding $9,200: Source: TradingView.com

More importantly, there is a crucial breakout pattern forming with resistance near $9,380 on the 4-hours chart of the BTC/USD pair. The pair is currently rising and trading well above the $9,200 and the 100 SMA.

On the upside, an initial resistance is $9,350 level. The first major resistance is near the triangle resistance and $9,400. A successful break and close above $9,400 will most likely increase the chances of a sustained upward move above the $9,500 resistance. If the bulls succeed, the price might climb towards the $9,600 and $9,800 levels.

Bearish Break in BTC?

If bitcoin struggles to clear the $9,400 and $9,500 resistance levels, there is a risk of a bearish break. The first major support is near the triangle lower trend line at $9,200.

The main support is near the $9,120 levels, below which the bears are likely to aim a larger decline below the $9,000 and $8,800 levels in the coming days.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slowly moving in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently rising and it is just above the 50 level.

Major Support Level – $9,120

Major Resistance Level – $9,400

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

Tags: bitcoinbtcusdBTCUSDTxbtusd
TweetShare14
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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

Bitcoin BTC BTCUSD Dogecoin DOGE

How r/WallStreetBets Triggered DOGE Rally – Reasons for Bitcoin Sell-off

2 hours ago
bitcoin price prediction

Bitcoin At $100,000: Estimating The Chance Of Six Figure BTC In 2021

21 hours ago
bitcoin

Two Patterns, One Coin: Is Bitcoin Currently Bearish Or Bullish?

1 day ago
Ethereum

TA: Ethereum Corrects Rally, But 100 SMA Could Spark Fresh Increase

2 days ago
Bitcoin

TA: Bitcoin Consolidates, Here’s Why BTC Could Surge Above $64K

2 days ago
bitcoin cme coinbase

CME Flashback: How The COIN Listing Could Culminate Bitcoin Rally

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

XRP Triples Within Weeks, Will the Bull Run Continue?

April 17, 2021

User-Friendly Interface Is Key to Wisebitcoin’s Steady Growth

April 16, 2021

Sign up and Get Free $30 Coupon With Nhash Cloud Mining Services

April 15, 2021

Newsletter Signup


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

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 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.