NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Bitcoin Price Watch: BTC Holds Bullish Bias Above $6,550

Aayush Jindal
Aayush Jindal
6 years ago
2 mins read
technical analysis bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Key Points

  • Bitcoin price is consolidating above the $6,590 and $6,550 support levels against the US Dollar.
  • There is a short-term declining channel in place with resistance at $6,720 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair has to surpass the $6,720 and $6,750 levels to move towards $6,850 and $6,900.

Bitcoin price settled above the $6,550 level against the US Dollar. BTC/USD must break the $6,720 resistance for an upward move toward $6,900 in the near term.

Bitcoin Price Analysis

After trading above the $6,800 level, bitcoin price started a downside correction against the US Dollar. The BTC/USD pair traded as high as $6,833 and corrected below the $6,750 level. During the decline, there was a break below the 23.6% Fib retracement level of the last wave from the $6,347 low to $6,833 high. However, there is a decent support visible near the $6,600 and $6,590 zone.

At the moment, the price is testing the $6,620 level and the 100 hourly simple moving average. Below this, the price could test the $6,590 support. It represents the 50% Fib retracement level of the last wave from the $6,347 low to $6,833 high. More importantly, there is a short-term declining channel in place with resistance at $6,720 on the hourly chart of the BTC/USD pair. If there is a downside break below the $6,590 level, the price may test the $6,550 level in the near term. On the upside, the price has to clear the $6,720 and $6,750 resistances to gain momentum. The next hurdle for buyers could be $6,830 and $6,900.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is still placed nicely above the $6,550 support. Below this, the price may extend losses towards the $6,420 level in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is slightly placed in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently well below the 50 level.

Major Support Level – $6,550

Major Resistance Level – $6,720

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Best -altcoins

Ba Các Đồng Coin Tiềm Năng Có Thể Tăng Mạnh Như XRP?

Thị trường tiền mã hóa với vốn hóa lên tới $3.46 nghìn tỷ đang chuẩn bị cho một đợt tăng...

Bảo Lê 1 hour ago
Featured Altcoins In 2025

Những Alt Coin Nên Mua Trước Đợt Sóng Tăng Tiếp Theo: Ethereum, Solaxy, XRP

Sau khi Bitcoin (BTC) tăng vọt lên mức $105,000 vào ngày 12 tháng 5, Ethereum (ETH), XRP (XRP) và nhiều...

Bảo Lê 1 hour ago
Dogecoin price news

Dogecoin Chart ‘Looks Perfect’: Analyst Targets $1.10–$1.25 Zone

Crypto analyst Kevin (@Kev_Capital_TA) has delivered a strongly bullish outlook for Dogecoin in his latest video update, describing the meme-turned-macro...

Jake Simmons 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

5 altcoinů pod 1 dolar, u kterých se v roce 2025 očekává výrazný růst

5 altcoinů pod 1 dolar, u kterých se v roce 2025 očekává výrazný růst

newsbtc 7 minutes ago
bitcoin daalt, dogecoin koers, cardano koers

Bitcoin daling ontketent $500 mln in liquidaties – impact op DOGE & ADA koers?

Lars Diederiksen 47 minutes ago
BTCBULL memecoin

Đợt Tăng Giá Bitcoin Có Thể Thúc Đẩy Presale $6 Triệu Của Meme Coin Tiềm Năng Liên Kết Với BTC

Bảo Lê 1 hour ago

Premium Sponsors

Top Brands

Press Releases

  • Under the Radar: A Deep Dive into Oraichain, PinLink, and...

    4 hours ago
  • GateToken (GT) Burns 1,542,910.7518074 Tokens in Q1 2025...

    4 hours ago
  • XRP Investors Are Earning $137,000 per Day Thanks to...

    11 hours ago
  • Exclusive Early Access: First 100 Signups Today Earn...

    11 hours ago
  • New opportunities for XRP and DOGE enthusiasts: How to earn...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.