• 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

BTC Price Tech Analysis for 08/18/2017 – Quick Pullback Opportunity

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

Bitcoin Price Key Highlights

  • Bitcoin price is bouncing off the top of its ascending channel resistance visible on the 1-hour chart.
  • This opens the chance for a correction to the channel support at which several buy orders are likely located.
  • Applying the Fib tool on the latest swing low and high shows that the 61.8% retracement level lines up with the channel support.

Bitcoin price appears to be making a much-needed pullback to the ascending channel support and Fib levels.

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. The gap also appears to be getting wider to reflect strengthening bullish momentum. The 100 SMA already seems to be holding as dynamic support as bitcoin price bounced off of it and could be headed back to the swing high just below the $4500 level.

A larger correction, however, could last until the 200 SMA which might be the line in the sand for the ongoing uptrend. Stochastic is already pulling up to indicate a return in buying pressure but RSI has room to head lower so bitcoin price might follow suit.

A break below the 200 SMA dynamic inflection point around the area of interest at $4000 could mark the start of a longer-term selloff.

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

Market Factors

There are plenty of factors supporting more bitcoin price rallies at the moment, including the drop in risk appetite after the terror attack in Barcelona and the political risk stemming from the US government. After Trump disbanded his business council advising him on policy, there have been talks that senior officials are looking to resign, weighing on fiscal policy reform hopes.

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.

Apart from that, the FOMC minutes have been very dollar bearish since policymakers refrained from committing to a timeline on the balance sheet runoff. There have also been inflation concerns voiced out, so the September hike isn’t set in stone yet.

As for bitcoin itself, the lack of negative news following the hard fork and network upgrade has allowed the cryptocurrency to hold on to its gains and go for more.

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

newsbtc

Related Posts

Cryptocurrency Market Drains $50B As Bitcoin Touches Weekly Lows

Cryptocurrency Market Drains $50B As Bitcoin Touches Weekly Lows

4 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

12 hours ago
Bitcoin

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

14 hours ago
Ether options surpass Bitcoin options

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

17 hours ago
bitcoin

Bitcoin May Hit $10K As Price Slides Pre-FOMC Meeting

17 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.