• 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
Nexo Logo

Bitcoin Price Analysis 08/17/2017 – Bulls Ain’t Backing Down!

newsbtc by newsbtc
5 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement

Bitcoin Price Key Highlights

  • Bitcoin price bounced off the area of interest around $4000 and could be ready to break past its record highs.
  • An ascending channel is forming on the pair’s 1-hour time frame and price could aim for the resistance at $4500.
  • Technical indicators, however, are showing mixed signals with oscillators hinting at uptrend exhaustion.

Bitcoin price continues to be propped up by strong bullish pressure, possibly setting its sights on new highs.

Technical Indicators Signals

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

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. In addition, the 100 SMA recently held as strong dynamic support and is close to the ascending channel bottom.

Stochastic is turning lower to signal a return in bearish pressure, though, possibly triggering another test of support around $4100. A break below the channel bottom could bring bitcoin price to the 200 SMA dynamic inflection point at $3800 next. RSI is also turning lower to indicate a pickup in selling pressure.

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

Market Factors

Although bitcoin price was weighed down by some profit-taking on the return in risk appetite recently, dollar weakness came back into play and boosted BTCUSD. The FOMC minutes are being blamed as the main catalyst for the drop since policymakers refrained from setting a date on the balance sheet runoff. A number of officials also reiterated concerns about inflation and how it might be prudent to wait for more data.

Apart from that, the political fallout in Washington after Trump fumbled to respond to the Charlottesville events is also dampening expectations of fiscal reform. Members of his business committee formed to advise him on policy and strategy have quit while there have been talks of top administration officials also looking to resign.

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.

Bitcoin, on the other hand, remains resilient throughout these uncertainties. After all, the cryptocurrency has managed to survive the hard fork without much complications but with the capacity to handle more transactions than usual.

Tags: bitcoin pricebitcoin signalsbitcoin technical analysisbitcoin tradingbtcusd price
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin

Why Bitcoin Is Cheap At $23,000, Says Fidelity Expert

4 mins ago
Cryptocurrency Market Drains $50B As Bitcoin Touches Weekly Lows

Cryptocurrency Market Drains $50B As Bitcoin Touches Weekly Lows

56 mins 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

3 hours ago
Ethereum

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

13 hours ago
Bitcoin

TA: Bitcoin Price Won’t Go Down Quietly: Key Supports To Watch

15 hours ago
Ether options surpass Bitcoin options

Flippening Forewarning? Ether Options Overtake Bitcoin As The Top Crypto To Trade

18 hours 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

LBank Exchange Will List THANKQ (TQP) on August 18, 2022

August 18, 2022

Crypto Finance Coin (CTFC) Is Now Available for Trading on LBank Exchange

August 18, 2022

LBank Exchange Will List SYLToken (SYL) on August 17, 2022

August 18, 2022

LBank Exchange Will List Omax Coin (OMAX) on August 18, 2022

August 18, 2022

PETT Is Now Available for Trading on LBank Exchange

August 18, 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.