• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
technical analysis bitcoin
Sensei Inu Logo

Bitcoin Price Watch: BTC Signaling Breakout Above $4,500

Aayush Jindal by Aayush Jindal
5 years ago
in Technical analysis
Reading Time: 2 mins read

Key Points

  • Bitcoin price traded higher and broke the $4,150 and $4,200 resistance levels against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $4,040 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is currently trading with a bullish bias and it could extend gains above $4,400 and $4,500.

Bitcoin price climbed above the $4,150 barrier against the US Dollar. BTC looks set to trade further higher above the $4,400-4,500 resistance area in the near term.

Bitcoin Price Analysis

After a minor downside correction, bitcoin price found support near the $3,780 level against the US Dollar. The BTC/USD pair formed a solid support and climbed above the $3,900 and $4,000 resistance levels. There was even a close above the $4,000 resistance and the 100 hourly simple moving average. Finally, there was a proper break above the $4,150 and $4,200 resistance levels.

Moreover, there was a break above a major bearish trend line with resistance at $4,040 on the hourly chart of the BTC/USD pair. The pair is currently consolidating near the $4,200 level and it looks set for more gains. An initial support is near the 23.6% Fib retracement level of the last wave from the $3,912 low to $4,240 high. However, the main support is near the $4,050 level and the broken trend line. The 50% Fib retracement level of the last wave from the $3,912 low to $4,240 high is also near the $4,075 level. Therefore, there are many supports on the downside near the $4,050 and $4,075 levels.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is placed nicely in a bullish zone above $4,000. Buyers are likely to push the price above the $4,400 and $4,500 hurdles in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is placed heavily in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently well above the 70 level.

Major Support Level – $4,050

Major Resistance Level – $4,400

Tags: bitcoinbtc
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

81 Fresh Binance Wallets Withdraw $31.58 Million LINK

81 Binance Wallets Withdraw $31 Million In LINK, What This Mean For The Altcoin

16 hours ago
Brave Zcash ZEC ZECUSDT

Privacy For All: Brave To Integrate Zcash Protocol On Native Crypto Wallet

18 hours ago
XRP Ledger DeFi

Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With

20 hours ago
XRP price bull run

ASO Bullish Cross Reveals Bull Run Start For XRP: Crypto Analyst

1 day ago
Chainlink

LINK Price Prediction: Chainlink Recovery Stalls But Not Likely Over

1 day ago
Ethereum

Ethereum Price Plunges After Rejection, Are Bears Back In Action?

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Arbitrum (ARB), Toncoin (TON), and Tradecurve Markets...

    24 hours ago
  • Top Meme and Utility Tokens to Watch Out For in 2023...

    24 hours ago
  • Bitcoin Miners Go Bankrupt As Bitcoin Spark Looks To...

    24 hours ago
  • Massive Potential Unveiled: Hedera, dYdX, Kangamoon, Poised...

    24 hours ago
  • Uwerx’s Recovery Blueprint Ignites Momentum With The...

    1 day ago

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.

Cryptocurrency news

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

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.