• 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
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
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin-price-steady-decline-compressor
Nexo Logo

Bitcoin Price Technical Analysis for 26/5/2015 | NewsBTC

NewsBTC by NewsBTC
7 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

After diminishing the gains over the weekend, Bitcoin has started this week on a poor note. The virtual currency has failed to respect the crucial support zone of $236-238, and now runs the risk of a huge decrease in the market cap. Hopes are high that the level of $234 may not get violated very soon.

Each Bitcoin can currently be bought for $235.98, 1.05% cheaper than yesterday’s $238.50.

BitcoinImage: https://www.tradingview.com/x/szvxgZLt/

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

Upon technically analyzing the 240-minute BTC/USD price chart, it can be concluded that all is not yet lost for the virtual currency.

Bitcoin Chart Structure – After failing to sustain at higher levels, Bitcoin cracked the floor decisively. The disappointing price action has significantly reduced the chances of a positive turnaround in the fortune of bulls while greatly enhancing the possibilities of deeper downsides.

Fibonacci Retracements – I had mentioned in my previous analysis that Bitcoin was wobbling near the 23.6% Fibonacci retracement level and was struggling to hold its head above this level. The cryptocurrency now looks to the 38.2% retracement level of $234.67 to establish strong footing.

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

Moving Average Convergence Divergence – Increased losses could also be attributed to the dying momentum. The MACD indicator has dived into the negative region while the Signal Line maintains its positive stance. The latest MACD reading is -0.1728 while the Histogram value is deeply negative at 0.6682.

Relative Strength Index – Bulls have lost complete control over the underlying strength, which is also confirmed by the 14-4h RSI reading of 43.9991.

Conclusion

Breach of the crucial support zone is expected to have bearish connotations for Bitcoin. However, since another strong buying level i.e. the 38.2% Fibonacci retracement level of $234.67 is in close proximity, it only makes sense to adopt a wait and watch approach until the market selects a direction. When even the market is undecided, it really isn’t wise to trade on speculations. Avoid trading for now.

Tags: bitcoinBitcoin price chartbitcoin technical analysisbitcoin tradingBTC-USD technical analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
NewsBTC

NewsBTC

Related Posts

Bitcoin

TA: Bitcoin Dips Further, Why BTC Could Revisit $20K

14 mins ago
bitcoin bollinger bands

Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

6 hours ago
Ethereum

TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300

22 hours ago
Bitcoin

TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

24 hours ago
bitcoin google

Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison

3 days ago
TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

4 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

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
BC.Game

BC.Game

Review · Visit

Have These Coins Cardano (ADA), Solana (SOL), and FIREPIN Token (FRPN) Become The Pillars Of The Crypto Space?

June 27, 2022

Torches Finance, The Top Lending Protocol has Launched on KCC, Genesis NFT Free Mint is Coming Soon

June 27, 2022

DogeSQ Token Presale Will Live on 28th June, 2022. 6:00 AM UTC

June 27, 2022

XT.com Lists Tales of Xtalnia (XTAL) With USDT Trading Pair

June 27, 2022

Find Out How Gnox (GNOX) Is Planning To Take On Fantom (FTM) And Avalanche (AVAX)

June 27, 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

© 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.