• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis

Bitcoin Price Watch: BTC/USD Preparing for Next Upside Wave

Aayush Jindal by Aayush Jindal
2 years ago
in Technical analysis
Reading Time: 2min read
technical analysis bitcoin
Advertisement

Key Points

  • Bitcoin price recently dipped and then rallied above the $6,400 level against the US Dollar.
  • There was a break above two bearish trend lines with resistance at $6,320 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is currently correcting lower, but it remains supported near the $6,320-00 zone.

Bitcoin price is positioned in the positive zone above $6,300 against the US Dollar. BTC/USD could move back higher towards $6,500 in the near term.

Bitcoin Price Analysis

There were a couple of nasty swing moves above $6,100 in bitcoin price against the US Dollar. The BTC/USD pair dipped sharply below the $6,200 support area and tested the $6,100 support. A low was formed at $6,104 and later the price surged higher. There were two back to back large candles were formed above the $6,400 level. The price rallied towards the $6,580 level and a high was formed at $6,573.

During the ride, there was a break above two bearish trend lines with resistance at $6,320 on the hourly chart of the BTC/USD pair. Later, the price corrected lower below the $6,500 level. It even corrected below the 23.6% Fib retracement level of the last rally from the $6,104 low to $6,573 high. At the moment, the price is trading near the $6,400 support and the 100 hourly simple moving average. Below this, the next support is near the $6,338 level. It represents the 50% Fib retracement level of the last rally from the $6,104 low to $6,573 high. Moreover, the broken trend lines near the $6,320 level are also likely to act as supports.

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, bitcoin is placed nicely above the $6,320-30 zone. As long as the price is above $6,300, it could move back higher towards the $6,500 level.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI is presently well above the 60 level.

Major Support Level – $6,320

Major Resistance Level – $6,500

Tags: Bitcoin Analysisbitcoin priceBitcoin price analysisBitcoin price chartbitcoin technical analysisbtcbtcusd
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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 thin ice

Time To Be Careful: Why Traders Are Cautious On Bitcoin Right Now

2 hours ago
Polkadot (DOT)

Charted: Polkadot (DOT) Steadies Above $35, Why Bulls Aim $40 or Higher

15 hours ago
Ethereum

TA: Ethereum Lacks Momentum Above $1,550, Why Dips Likely To Be Limited

17 hours ago
Bitcoin

TA: Bitcoin Holding Gains, Why BTC Could Surge Above $50K

19 hours ago
bitcoin bear trap dollar dxy btc

Bitcoin Shakes Off Dollar Rebound But Beware Of Coming Bear Phase

21 hours ago
ethereum showtime alt season

Alt Season 2.0: Analyst Claims It’s “Showtime” For Ethereum

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

First-Ever Public Tron-based Smart Contract

March 3, 2021

ECOMI to List OMI Tokens with BitMax

March 3, 2021

eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal

March 2, 2021

Newsletter Signup


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

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 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.