• 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
technical analysis bitcoin
Nexo Logo

Bitcoin Price Watch: BTC/USD in Clear Uptrend

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

Key Points

  • Bitcoin price extended gains and broke the $6,400 resistance zone against the US Dollar.
  • Yesterday’s discussed bullish flag pattern was breached with resistance at $6,380 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair traded above the $6,600 level and is placed nicely in a bullish zone.

Bitcoin price jumped above key barriers against the US Dollar. BTC/USD may continue to move higher towards the $6,800 level in the near term.

Bitcoin Price Analysis

Yesterday, bitcoin price started a downside correction after trading above the $6,450 level against the US Dollar. The BTC/USD pair corrected below the $6,350 level and tested an important support at $6,250. Moreover, there was a test of the 38.2% Fib retracement level of the last leg from the $5,780 low to $6,530 high. The price completed a correction pattern and started a fresh rally above the $6,400 level.

The upside move was strong as the price broke the $6,400 and $6,500 resistance levels. Additionally, yesterday’s discussed bullish flag pattern was breached with resistance at $6,380 on the hourly chart of the BTC/USD pair. The pair even broke the $6,600 level and traded as high as $6,680. At the moment, it is consolidating gains above the $6,500 level. An initial support is around the 23.6% Fib retracement level of the last wave from the $6,238 low to $6,680 high. However, the most important support on the downside is at $6,500, which was a resistance earlier.

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

Bitcoin Price Analysis BTC USD

Looking at the chart, the price is placed nicely in a bullish trend above $6,500. Should there be more gains, the price may perhaps climb above the $6,800 level. The next major hurdle for buyers is near the $7,000 level, which is also a pivot level.

Looking at the technical indicators:

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

Hourly MACD – The MACD for BTC/USD is slightly placed in a bearish zone with consolidation signs.

Hourly RSI (Relative Strength Index) – The RSI is correcting from the overbought levels.

Major Support Level – $6,500

Major Resistance Level – $6,800

Tags: Bitcoin Analysisbitcoin priceBitcoin price analysisBitcoin price chartbitcoin technical analysisbtcbtcusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Bitcoin bear

Holding Back The Bears: Why Bitcoin Must Break $22,500

3 hours ago
Ethereum

TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K

15 hours ago
Bitcoin

TA: Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows

17 hours ago
Ethereum

Ethereum Plugs 11-Week Bleed, why $1,500 May Be On The Horizon

21 hours ago
Ethereum

TA: Ethereum Turns Red, Why ETH Must Hold This Key Support

2 days ago
Bitcoin

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

2 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

Crypto Crash: Bitcoin Falling Helplessly, Find Succour in These Two Coins

June 29, 2022

The Stock Market Crash Has Spurred Investors To Invest In Cryptocurrencies Like Mushe Token (XMU) and Quant (QNT)

June 29, 2022

TRON Breaks the 100 Million Users Mark, Celebrates Mainnet 4th Anniversary, and Announces Huge Hiring Push Amid Market Meltdown

June 29, 2022

LBank Exchange Will List Delio(DSP) on June 30, 2022

June 29, 2022

LBank Weekly Listing Report, 27th June 2022

June 29, 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.